Nation's largest guarantor announces online, CCI-compliant feature

Web Claim Enhances Claim-Filing Process for Lenders

INDIANAPOLIS—USA Funds®, the nation's leading education-loan guarantor, announces the availability of Web Claim—a Web-based process that helps education lenders meet new standards in claim filing without the programming necessary for other electronic claim-filing processes.

Web Claim meets the specifications of the new Common Claim Initiative (CCI). The CCI calls for the nation's student-loan guarantors to share standardized forms and file formats for claims, preclaim assistance requests and supplemental claims. Lenders may submit paper or electronic claim forms through the CCI.

"Lenders using Web Claim can enjoy the benefits of an online claim-filing process and, at the same time, meet CCI requirements," said Carl C. Dalstrom, USA Funds president and CEO.

To use Web Claim, lenders simply visit a special claim-filing Web site; enter their username and password; complete and submit an online form; and mail the standard supporting documentation. Within 24 hours of submitting the claim online, lenders receive notification that their claim was received. Within days, if there are any potential problems with the claim, they are notified about the problem and any additional documentation that might be required.

Dalstrom cited several advantages to lenders using USA Funds Web Claim, including the following:

  • No programming costs—a computer with Web access is the only equipment needed.
  • Faster review of claims.
  • Fewer returned claims, because lenders learn of potential problems earlier in the claim-filing process.
  • Less paperwork.
  • Reduced mailing costs.
  • Assurances of data protection, including a secure server with password protection.

Indianapolis-based EFS Services piloted Web Claim in summer 2001 and now is phasing in the service for its loan volume. "Web Claim offers us quicker turnaround and enhanced efficiency," said Jacque Mickel, EFS Services manager of Claims Processing. "We are excited to have this opportunity to take full advantage of the latest technology."

Other lenders interested in using Web Claim should contact Teresa Perry at (317) 578-6059.