Loan-Maintenance Enhancements Benefit Schools and Lenders

Recent enhancements to the loan-delivery systems that support the USA Funds^® guarantee allow schools more flexibility in maintaining their loan records, and provide lenders with a new delivery option for the Loan Transaction Statement. USA Funds has outlined the following enhancements in prior issues of the USA Funds Education Access Report.

Social Security-number search field
A new Social Security-number-search option displays at the top of two existing OpenNet screens — Application Loan Summary and Application Loan Detail — giving users easier access to the search option. The SSN-search box also continues to display at the bottom of the screen. In addition, the SSN-search field displays on the new Multi-Loan Detail screen for USA Funds school-customers.

Multi-loan-view screens
USA Funds offers a new “Multi-Loan Detail” screen exclusively to its school-customers and all lender-customers that use OpenNet Web Loan Delivery. The Multi-Loan Detail screen displays both loan-summary and loan-detail information on one screen for each borrower. Both Federal Family Education Loan Program- and private-loan data display, providing a more-complete picture of a borrower’s loan history on a single screen.

Mass changes available for pre-guarantee corrections
USA Funds school-customers have more flexibility in OpenNet when submitting corrections for pre-guarantee loans. OpenNet’s new Pre-Guarantee Disbursements screen permits users to search and submit mass changes for multiple pre-guarantee records.

Loan Transaction Statement available via FTP
USA Funds lender-customers have the option of receiving their Loan Transaction Statements via File Transfer Protocol, rather than by tape cartridge.

For more information about the fall-2006 enhancements, or to find out more about the technical products supported by USA Funds, contact your USA Funds Services account executive.