For Schools

Streamline Private Loan Processing with SFTP

Articles | September 17, 2019

Streamline Your Day-to-Day Private Loan Processing Tasks

Whether you’re new to ScholarNet, or you’ve been using the tool for years, we hope you’ll take a few minutes to learn about Secure File Transfer Protocol (SFTP) and how it can help streamline your private loan processing tasks.

What is SFTP?

SFTP allows you to electronically transfer multiple files at the same time between your financial aid system and ScholarNet. However, unlike regular File Transfer Protocol (FTP), SFTP is considerably more secure. It protects file transfers through data-in-motion encryption and secure authentication methods.

Using SFTP to Securely Transfer Private Loan Files

If your Financial Aid Management System (FAMS) such as PeopleSoft, Banner, etc. is set up to communicate with ScholarNet, you will be able to process loan certifications, changes, and disbursements within your FAMS. Now you’re ready to use SFTP to further automate and create efficiencies.

Automated Export File Flow

At your request, a member of our knowledgeable team will set up automated delivery of the export files from ScholarNet. The export files are safely sent using SFTP to a secure electronic mailbox. The financial aid professional will send loan information to ScholarNet using the same SFTP process. So rather than logging into ScholarNet to import and export loan files, a file created from your financial aid system will be sent directly to the SFTP mailbox, increasing both accuracy and efficiency for the financial aid professionals who are responsible for performing private loan functions on a regular basis.

Learn More

Interested in learning more about setting up SFTP and streamlining private loans at your school? Contact your ScholarNet representative or use our Request More Information form.