“Agencies just getting started on artificial intelligence and predictive analytics can face internal inertia. In that case, starting small may be helpful.
That’s according to Michael Collins, a statistician in the Federal Student Aid Office at the Education Department. Speaking during the Agency Readiness for Predictive Analytics panel Tuesday, presented by the Advanced Technology Academic Research Center, Collins described how his office, which administers the FAFSA form, uses predictive analytics to forecast loan default.
Now that federal student loan payment forgiveness, collection halts and waived interest – due to COVID-19 – is set to end Dec. 31, FSA has begun targeting its communications at borrowers they think are most vulnerable to defaulting on their loans. But the agency does this predictive modeling at multiple stages of the loan lifecycle as well…” Read the full article here.
Source: Predictive analytics being used to spot missing, suspicious payments for agencies – By Amelia Brust, November 18, 2020. Federal News Network.