It

1
Its Really Not a Puzzle
Loan Origination Tracy Ireland, Senior Manager
Originations Daniel Trammell, School Client
Relations Specialist 2004
GSFC Annual Conference March 3 4, 2004
2
GSFC Advantages

• Benefits from using GSFC as your
• source for loan processing
• Advantages of a Bundled Agency - One source for
  all state aid
• In-House lender and guarantor
• Resources remain in Georgia
• Focus on customer service
• Georgia centered programs

3
GSFC Services Overview

4
GSFC Processing Overview

• Loan Processing Options
• Electronic Loan Processing Services
• Other Services
• Service Cancelable Options
• Coming Soon
• Loan Servicing

5
Loan Processing Options

• In response to requests from our school and
  lender partners, GSFC now offers the following
  loan processing options
• SSP
• SSP
• Lender Flow Guarantee Only
• Blanket Certificate of Guarantee

6
SSP

• Started in 1995
• Consensus model between
• Schools, GSFC, lenders
• 2 billion originated since 1995
• 15 participating lenders
• 60 participating schools

7
SSP

• Single Source Partners
• One source for
• File transfers responses
• E-sign process or note printing, collection
  validation
• Customer service personal service from
  designated school relations specialist
• Disbursement and refunds multiple options

8
SSP

• Same features as SSP
• Allows school to receive single disbursement and
  disbursement roster through NDN (national
  disbursement network)

9
Electronic Loan Processing Services

• ScholarNet
• FASTLoans
• Auto Debit/Auto Credit Refund Options
• PLUS Pre-Credit Approval

10
ScholarNet

• Web-Based Tool to transmit loan certifications,
  guarantees and changes
• Used by more than 800 schools nationwide, more
  than 60 in Georgia
• Open system, communicates using industry standard
  CommonLine to any CL compliant service provider
• Interfaces with most financial aid management
  systems

11
ScholarNet

• Real-time ASAP application processing and change
  transactions
• Interfaces with GSFCs FASTLoans product
• Customized reporting features
• Used for both FFELP and alternative Loans

12
FASTLoans

• E-sign MPN
• MPNs Load in real time to GSFC System
• MPNs match to certifications in real time
• Access through the schools website
• Options for placing FASTLoans in the schools
  process
• Flexibility in notifying the school when student
  completes FASTLoans process

13
Other Services

• ELM Resources member
• Single point of data exchange
• Not single point of contact
• GSFC hosting ELM client meeting April 20
• Technical assistance for FAMS setup
• Customized reporting
• Reconciliation assistance
• 24/7 IVR for all customers

14
Refund Options

• Change transactions
• Auto debit
• Auto credit
• Paper checks

15
PLUS Pre-Credit Approval

• Electronic CommonLine app send initiated
• GSFC website
• Lender/Servicer options
• Fax requests

16
FFELP Service Cancelable Processing

• Same options as the Stafford Loans
• SSP Services
• ScholarNet, ELM or any CommonLine compliant
  product
• Differences
• School set allocation requires that the loans do
  not automatically serialize
• Not included in the FASTLoans process

17
Coming Soon

• FASTPLUS
• E-sign PLUS note processing
• Works like FASTLoans-real time
• PLUS pre-approval improvements
• Real time credit approval
• Automated credit processing (applications)
• Automated FFEL service loan processing
• Application standardization initiatives
• Expanded use of web for state service loans
• Image workflow

18
GSFC Loan Servicing

• Life of the loan servicing in Georgia
• Provides borrower statements on website
• Use technology to enhance collection efforts
• Experienced loan counselors
• Offers automatic payment options
• Work closely with GSFCs default prevention task
  force

19
What to Consider when Choosing SSP?
20
Questions