Frequently Asked Questions
No. ScholarNet is free to all schools and borrowers.
ScholarNet is lender neutral and works with all CommonLine participants.
ScholarNet activation can be completed in as little as two days.
Yes. Your dedicated representative will work with you to schedule training and will continue to provide ongoing support. Our representatives have an average of 13 years working extensively with ScholarNet products. Each of them has financial aid office experience as well, so they understand the questions you’ll have. We also offer two webinars, Getting Started with ScholarNet and Getting Started with FastChoice, several times a month.
Once you decide you’d like to use ScholarNet, you’ll send an email notice to your representative. We’ll set up a brief call with you to verify several details we need to get started. Then, we’ll handle all aspects of setup, including notifications to lenders and training.
Our ScholarNet team handles all aspects of setup, including notifying lenders. They’re used to receiving these notifications from us – and they know that working with ScholarNet creates efficiencies for them, too.
Yes. ScholarNet is able to accept CommonLine files to save you from manually entering data – and it provides response files that can be loaded directly back into the school Financial Aid Management System (FAMS). Please contact your ScholarNet representative for help with this.
ScholarNet can provide email notifications letting you know when there are certifications waiting to be completed. If you don’t receive an email, there are no certifications to be completed.
Yes, you’re able to subscribe to various reports that help you track certain types of activity.
With Central Disbursement Service, you receive all disbursements from participating lenders electronically.
Yes. Information is compiled from hundreds of private loan providers into a single roster for simple electronic disbursement.
Schools can request refunds electronically in the same way 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.
You can set your preferences for disbursements, indicating a set day (or days) of the week for disbursements to be made, based on what’s convenient for you.
Yes, you can easily pause, suspend, or modify your disbursement day(s) for holidays or other office closures or absences so that disbursements can be fit conveniently into your workflow.
For password resets, to register a credential, or for assistance logging in, please contact Client Services.
To request access for an additional ScholarNet, FastChoice, or CDS user, please have the school administrator notify Client Services of the product type and level of access (e.g., edit, view only, etc.) needed. Please provide the user name, email address, title, and phone number to complete the request.