OpenNet Enhancement Allows Borrower ‘Requested Loan Amount’

Effective April 24, 2006, OpenNet Web Loan Delivery will permit its school-users to include the borrower “Requested Loan Amount” in the borrower-initiated Stafford-loan online application process.

Currently the requested loan amount is not an option in OpenNet because it is not a required field on the Master Promissory Note.

School-customers that use OpenNet Web Loan Delivery can set up this option on behalf of their students in the “School Administration” section of OpenNet.

The change in OpenNet eliminates the requirement for school-users to collect the requested loan amount by paper. In addition, schools can use the information collected as a tool to counsel individual students about their student-loan debt.

If you have questions concerning this OpenNet enhancement, please contact technical support or your USA Funds^® Services representative.