Company Acquires BridgeSpan Financial to Expand Services
Highlands Ranch, CO – April 27, 2011 – ESM, a provider of student lifecycle solutions to help schools enroll, graduate and place students, has expanded its services to include loan counseling support to help students repay their loans, as well as analytics services to help schools understand, forecast, and manage their Cohort Default Rates (CDRs). These services are becoming increasingly important as post-secondary schools focus on helping students graduate and repay loans incurred in financing their education.
ESM acquired BridgeSpan Financial, a company that has been creating unique solutions to forecast and manage student loan borrower delinquency and default since 2008. ESM will offer the Student Loan Chaperone service to schools, delivering personalized counseling and coaching for students to explore repayment options that fit their needs and lifestyles. These new services also include analytics and predictive modeling so schools can better forecast students’ abilities to repay loans, while identifying at-risk populations in need of counseling services prior to enrollment.
“This acquisition ideally fits with our strategy to develop and expand our services throughout the student lifecycle,” said Rick Fort, Founder and Entrepreneur-in-Chief of ESM. “Our two organizations share a common vision to help students realize their education goals, and these added services complement our current student retention and placement solutions. In talking to our clients, this is important to them as they look for new and better ways to help students succeed.”
“Additionally, as schools take on greater accountability in a more regulated environment, these services help them by focusing on their students’ needs. Our clients clearly support the return on investment in financing education,” said Fort.
According to BridgeSpan’s data, students who stay in school repay their loans at three times the rate of those who drop out. Those who get jobs following graduation also repay their loans at a much higher rate. By coupling the new counseling and analytics services with ESM’s student retention and career placement services, ESM is now delivering a comprehensive solution unmatched in the industry, giving schools more ways to get students on the right path toward a successful education, career and life.
“Each student’s situation is unique, which is why individualized counseling is so effective in helping students overcome obstacles and navigate the repayment process,” said Jeff Harris, CEO of BridgeSpan, who joins ESM as Vice President of Chaperone Operations. “Our Student Loan Chaperone debt counseling service extends ESM’s mission of helping students achieve success, and our industry leading analytical capabilities will help schools optimize outcomes across the student lifecycle. We’re incredibly excited to join the ESM team in realizing this mission.”
ESM provides student lifecycle solutions to help institutions enroll, graduate and place students. Leveraging its highly trained people, performance-driven processes and advanced technology, the company complements an institution’s in-house teams. As a premier Business Process Outsourcer, ESM operates the largest education-only contact center in the country with approximately 800 people, delivering rapid, cost-effective lead processing, high contact rates and strong conversion rates. Additionally, ESM provides student retention solutions to improve graduation rates, as well as career placement services to help students succeed professionally. To learn more, please visit http://www.esm-sls.com.
BridgeSpan Financial LLC is an education finance company established in 2008 with the mission of creating better solutions for forecasting and managing student loan borrower delinquency and default. Founded by two former senior members of the higher education division at the Government Accountability Office with expertise in higher education finance and federal financial aid policy, BridgeSpan provides unique data-driven forecast tools and solutions at the intersection of the private and public sectors. To learn more, please visit http://www.bridge-span.com.
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