Processing Loans

Tailor our loan processing solutions to meet your school’s needs.

Alec’s award and certification features can be bundled or stand-alone for a customized solution.

  • Process applications online with any guarantor or lender
  • Control your processing preferences and notifications online
  • Link entrance counseling to application processing
  • Receive support for set-up and processing issues

Features

Loan Guaranty
  • Combine long-standing guaranty experience with online tools for simplified loan processing

Real-time Aid Processing
  • Deliver loan certifications and loan changes for FFELP and alternative loans in real time for AES loans

Online Aid Processing with any Partner
  • View loan status, certify and change loans with any guarantor or lender
  • Integrate with your financial aid management system or update information online
  • Transmit your files to any FFELP partner via your financial aid management system or school-based software package
  • Uses CommonLine 4 and 5 technology

Instant Credit Check for PLUS Loans
  • Deliver instant online credit decisions for PLUS loans
  • Customize the Parent/Graduate PLUS MPN online process with lender lists and online loan wraps
Reports
  • Receive daily guaranty reports
  • Automated and customized reports
  • Export reports to your financial aid management system or Excel spreadsheet

Student Services

eSignature
  • Provide electronic signature options for your student and parents for FFELP and alternative loans
Online Entrance/Exit Counseling

Customize the online counseling experience for your students:

  • Provide Financial Aid Office contact information at the end of the session
  • Choose from multiple notification methods, including by email or file
  • Couple online counseling with MPN completion
  • Offer counseling in Spanish

Account Access for Students

Students receive real-time access to aid information, including:

  • Loan award data
  • Loan disbursement data
  • Loan repayment data including payment history
  • Default and claim data
  • Details of outstanding fees
  • Cancellation information
  • Deferment and forbearance history
  • Location of their loans for non-participating organizations

 

More Information

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