Three Ways to Leverage Social Media In Your Financial Aid Office

Three Ways to Leverage Social Media In Your Financial Aid Office

Eighty-eight percent of 18 – 29 year olds are on Facebook. Of that 88 percent, 77 percent are college graduates and 76 percent are checking Facebook on a daily basis. We get it - that’s a lot of numbers at once. But what it means is, your former and current students are on Facebook, making social media the perfect platform to communicate with them. Here are a few tips to leverage social media in your financial aid office.

Celebrate With Them: We’ve all seen the posts on Facebook, a colleague, a friend or someone you haven’t talked to in five years has finally paid off their student loan debt, and they’re ready to shout it from the rooftops. They take a screenshot of the email or document saying they’ve paid it off and wait for the comments to roll in.

Instead of a screenshot, provide them with a graphic to post, and encourage them to use a hashtag branded for your university or college. Give them a shout-out on Twitter and engage with their posts if they’ve tagged you. Nothing gives your brand more personality than engaging with your followers and fans.

Educate Them: You can leverage the power of social media to educate your borrowers. Present factual situations about how interest on loans work. Provide applicable tips to help pay their debt. Start campaigns like “Financial Freedom Fridays” featuring borrowers who have paid their loans off.

Social media is a great platform to post about any legislation changes that may affect borrowers or even announcements for financial aid deadlines. You can also distribute blogs about topics like myths and mistakes borrowers make with their student loans.

Know What Not To Do: Social media should not be used to contact or harass borrowers regarding their loans. There have been several situations where others have tried to trick borrowers with fake friend requests. Learn from this mistake and maintain a good level of customer service and transparency with your social media audience.

Social media provides a great opportunity to reach and engage your borrowers, especially while they’re still in school. What are some ways your office is using social media to engage and educate borrowers when it comes to their student loans and repayment?