ScholarNet for Lenders
Automate Private Loan and Disbursement Data
Not using ScholarNet to automate the online exchange of private student loan application and disbursement data with schools? You’re missing out on a secure, low-cost solution with proven high-quality support services! As always, we’re committed to providing lender-neutral operations to best serve you, students, and schools.
How ScholarNet Helps You
Exchanges Loan Data Securely
Easily connect with hundreds of CommonLine-compliant schools, service providers, and FAMS to exchange loan data. Double encryption protects school and borrower data.
Fast, Easy Electronic Processing
Full electronic processing, including change transactions for hundreds of schools, is easy and cost-effective. A smooth process for schools helps you achieve your goals.
Manages Disbursement Issues
You can manage school preferences, send loan disbursement funds to schools the same day they’re withdrawn, and receive alerts to simply manage changes and refunds.
What ScholarNet Does
Quickly and securely exchanging loan data, ScholarNet connects you with hundreds of CommonLine-compliant schools, service providers, and FAMS for full electronic processing.
Displays System Data
At a glance, you can see what’s going on with certification requests, application statuses, disbursements, and change responses with a user-friendly, web-based application.
Offers Search and Report Flexibility
From one convenient place, you can view your recent SmartSearches and reports. You can use our common searches, create your own customized SmartSearches, and subscribe to reports and receive on-demand reports.
Provides an Easy Audit Trail
With an easy-to-read audit trail (including date, time, and user stamp for each activity) you save time and have data at your fingertips.
Disburses Funds Seamlessly
ScholarNet sends one combined disbursement roster and funds for multiple schools on the day schools prefer to receive disbursements. A simplified process for schools to return funds to you helps your efficiency, too.