OpenNet is an online student-loan-delivery platform that
helps you manage and transmit your loan data in a way that works with your
internal loan process. USA Funds® supports OpenNet as part of USA
Funds’ commitment to providing postsecondary institutions with a choice of the
leading loan-delivery tools. USA Funds customers also have access to OpenNet
features not available to others.
OpenNet offers several modules and incorporates features that
enable your institution to work more efficiently and communicate more effectively
within your office, with your students and with your student-loan
providers.
File Management
File Management makes the entire loan-processing cycle easier to monitor so you can track
your electronic files during the entire loan-delivery and transmission cycle.
The system proactively monitors the transmission of files and ensures that
any delays are resolved smoothly, so files are delivered to their appropriate
end destinations. The file-transfer functionality equips you with unprecedented
efficiency for data transmission and retrieval.
Application Processing
OpenNet’s Application Processing Module expedites the entire loan-application and
disbursement process. Incorporating features like real-time updates and
E-signature capabilities, OpenNet seamlessly integrates with your institution’s
loan process. Application Processing also provides students and parents with an
intuitive process that follows the school’s loan process.
Inquiry and Change Transactions
OpenNet offers a simplified process for viewing loan information and
making changes to both individual and groups of loans. Receive real-time results
and assurance that your changes have been applied within the system. In
addition, loan-history information is available for loan-level, demographic information
and disbursement-level changes.
Query & Reporting
OpenNet’s
Query & Reporting Module offers industry-leading searching and reporting
capabilities, including the ability to retrieve and print disbursement rosters
and other reports that can be customized to meet your needs. Queries and export
features can be customized to retrieve data that you need, the way you need to
see it. Users also can export query results into either a Microsoft Excel file
or a Comma Separated Value file.
To find out if OpenNet is the right solution for your
institution, contact your USA Funds Services
representative.