For financial aid professionals or lenders with questions about ScholarNet and FastChoice, refer to the team’s FAQ page or contact the team.
Financial aid professionals and lenders are continually navigating changing regulations and programs. We understand how much of your time that takes. That’s why, at ScholarNet®, we provide consistent support from your rep and our Care Team, as well as useful resources for our private loan processing solutions. We want to make sure the processing of private student loans is one of the easiest, least time-consuming parts of your job and day.
To help you more efficiently and effectively use ScholarNet and FastChoice™, we created a list of Frequently Asked Questions so you can easily find what you need – and then move on to other, more challenging tasks in your day. Here, we provide just a sampling of the types of questions covered in this handy resource.
Amy Gerber, regional vice president with ScholarNet, says one of the most common questions she receives is about how to add new users to the institution’s ScholarNet account. Another frequent request is for help with resetting a password or when someone has trouble logging in. These instances are all covered in our FAQ. And – to save you looking up the answers – the best, quickest way to resolve these issues is to contact our knowledgeable and friendly Care Team. They can easily get you – and any new users – up and running. Email them at CareTeam@myscholarnet.com or give them a call at 888.686.6919.
Import/Export of Files
Another question we commonly receive from customers is whether private student loan data files can be imported and exported. Yes, ScholarNet is able to accept CommonLine files – and it provides response files that can be loaded directly back into the school Financial Aid Management System (FAMS). For help with this, contact your ScholarNet representative.
Return of Funds
Questions about the options available for returning private student loan funds also arise, and that’s another topic that’s covered in our FAQ. Here’s the response: “Schools can request refunds electronically with a single roster. CDS will compile information and accurately disburse refunds to appropriate private loan providers. Refunds are issued via electronic funds transfer (EFT), automated clearing house (ACH), or a check – whichever meets the needs of your business office.”
Always Here For You
We always enjoy speaking with you, helping to address your needs, and hearing how things are going. We know that you’re busy and that, when you have questions, you need answers quickly. Making it easy for you to self-help at any time of day or night was the goal of adding common questions and answers to create our FAQ page.