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On Thursday, April 5, 2007, the Michigan Guaranty Agency (MGA) hosted the third installment of its Default Aversion Symposium Series entitled, A Holistic Approach to Default Aversion, at Kellogg Center in East Lansing.

John Pierson, U.S. Department of Education, Federal Student Aid, began the morning with a presentation on the holistic approach to default aversion. He noted there are two broad approaches to successful default prevention, financial aid solutions and campus wide solutions. The key is to understand the intersection between student and institutional success, and loan default and how to do something about it.

John Pierson, PowerPoint Presentation
John Pierson, Video Presentation (Microsoft Producer File, 23 minutes, 46MB)
Video Clip Transcript: John Pierson Presentation

Justin Draeger, Assistant Director of Communications, National Association of Student Financial Aid Administrators (NASFAA), presented The Power of Dynamic Thinking, Reaching Across Boundaries in Default Aversion. His focus was to have participants keep dynamics in mind before instituting new default aversion policies and plans.

Justin Draeger, PowerPoint Presentation
Justin Draeger Video Presentation (Microsoft Producer File, 55 minutes, 46MB)
Video Clip Transcript: Justin Draeger Presentation

Andrew (Drew) Koch, Director of Student Access, Transition and Success Programs Department at Purdue University, was the keynote speaker. His presentation Seeking Excellence and Promoting Success in the First Year of College and Beyond provided insight on problems to overcome to achieve student success. Drew mentioned that the major focus for a vast number of American colleges and universities are concerns about success and retention. He feels that a continuous commitment to quality will increase both the number of students who are retained and who persist - somewhere - in higher education.

Drew Koch, PowerPoint Presentation
Drew Koch Video Presentation (Microsoft Producer File, 1 hour 12 minutes, 46MB)
Video Clip Transcript: Drew Koch Presentation

Three breakout sessions were conducted in the afternoon. One for four-year public/private sectors facilitated by Rick Shipman, Michigan State University, a two-year public sector group facilitated by Jo Cassar, St. Clair County Community College, and a proprietary sector group facilitated by Susan Vert, Irene's Myomassollogy Institute. Their discussions included coming up with policies and plans to meet four goals:

• Successful student loan repayment
• Increase year-to-year retention
• Increase degree completion
• Increase completion rates on-time

Symposium III breakout session notes
Symposium III breakout session instructions and summaries (Microsoft Producer File, 32 minutes, 35MB)
Symposium III breakout session transcripts

The first installment of the Default Aversion Symposium Series, Understanding and Treating the Underlying Causes of Default, was held on March 29, 2005, in Livonia, and was highlighted by two nationally renowned authorities on financial literacy: Laura Levine, Executive Director of the Jump$tart Coalition, and Carl George, chair of the National CPA Financial Literacy Commission.