Press Releases
PHEAA Launches New Financial Aid Delivery Product
Schools provided with one central location for loan certification
Harrisburg, PA (June 5, 2008) - The Pennsylvania Higher Education Assistance Agency (PHEAA) launched today Alec 1.0, the first component of a new financial aid delivery product that will allow schools to manage their loan certification process online.
As the first release of a new aid delivery product, Alec 1.0 improves the delivery of loan information to schools. This flexible management tool helps schools organize and control their workflow, enabling them to better manage the student loan process. Alec 1.0 provides customized folders and views which can also be configured at the institution and user level.
“Alec 1.0 provides schools with flexibility in managing student loan applications that they have never known before,” said Jim Preston, PHEAA President and CEO. “We are committed to providing schools with a product that allows them to more quickly and efficiently process FFELP and Alternative loans. This benefits both the schools, and the students and their families and it sets PHEAA apart from others in the industry.”
The tailored and customizable Alec 1.0 provides schools with an interactive reporting tool, allowing them to identify, manage, and report on certification work. An automated refresh of the list of loans needing certification and the ability to actively create and move folders while also creating and saving custom views, puts schools in the driver's seat. Alec 1.0 also allows daily tracking of certifications received and updated.
Further information on the capabilities of Alec 1.0 can be obtained by contacting PHEAA's Educational Services Group (ESG) at 800.443.0646, Option 4, Option 1.