It’s Really Not a Puzzle Financial Aid Parents Loan Origination Tracy Ireland, Senior Manager Originations Daniel Trammell, School Client Relations Specialist 2004 GSFC Annual Conference March 3 & 4, 2004

GSFC Advantages  Benefits from using GSFC as your source for loan processing source for loan processing  Advantages of a Bundled Agency - One source for all state aid  In-House lender and guarantor  Resources remain in Georgia  Focus on customer service  Georgia centered programs Students

GSFC Services Overview Students

GSFC Processing Overview  Loan Processing Options  Electronic Loan Processing Services  Other Services  Service Cancelable Options  Coming Soon  Loan Servicing Colleges

Loan Processing Options In response to requests from our school and lender partners, GSFC now offers the following loan processing options:  SSP  SSP+  Lender Flow – Guarantee Only  Blanket Certificate of Guarantee Colleges

SSP Started in 1995 Started in 1995 Consensus model between: Consensus model between: –Schools, GSFC, lenders $2 billion originated since 1995 $2 billion originated since participating lenders 15 participating lenders 60+ participating schools 60+ participating schools Financial Aid

SSP Single Source Partners  One source for: File transfers & responsesFile transfers & responses E-sign process or note printing, collection & validationE-sign process or note printing, collection & validation Customer service – personal service from designated school relations specialistCustomer service – personal service from designated school relations specialist Disbursement and refunds – multiple optionsDisbursement and refunds – multiple options College

SSP+  Same features as SSP  Allows school to receive single disbursement and disbursement roster through NDN (national disbursement network) Students

Electronic Loan Processing Services  ScholarNet  FASTLoans  Auto Debit/Auto Credit Refund Options  PLUS Pre-Credit Approval Financial Aid

ScholarNet  Web-Based Tool to transmit loan certifications, guarantees and changes  Used by more than 800 schools nationwide, more than 60 in Georgia  Open system, communicates using industry standard CommonLine to any CL compliant service provider  Interfaces with most financial aid management systems Students

ScholarNet  Real-time ASAP application processing and change transactions  Interfaces with GSFC’s FASTLoans product  Customized reporting features  Used for both FFELP and alternative Loans Students

FASTLoans  E-sign MPN  MPN’s Load in real time to GSFC System  MPN’s match to certifications in real time  Access through the school’s website  Options for placing FASTLoans in the school’s process  Flexibility in notifying the school when student completes FASTLoans process College

Other Services ELM Resources member ELM Resources member –Single point of data exchange –Not single point of contact –GSFC hosting ELM client meeting April 20 Technical assistance for FAMS setup Technical assistance for FAMS setup Customized reporting Customized reporting Reconciliation assistance Reconciliation assistance 24/7 IVR for all customers 24/7 IVR for all customers Financial Aid

Refund Options  Change transactions  Auto debit  Auto credit  Paper checks College

PLUS Pre-Credit Approval  Electronic CommonLine app send initiated  GSFC website  Lender/Servicer options  Fax requests Parents

FFELP Service Cancelable Processing Same options as the Stafford Loans SSP ServicesSSP Services ScholarNet, ELM or any CommonLine compliant productScholarNet, ELM or any CommonLine compliant productDifferences School set allocation requires that the loans do not automatically serializeSchool set allocation requires that the loans do not automatically serialize Not included in the FASTLoans processNot included in the FASTLoans process

Coming Soon FASTPLUS FASTPLUS –E-sign PLUS note processing –Works like FASTLoans-real time PLUS pre-approval improvements PLUS pre-approval improvements –Real time credit approval –Automated credit processing (applications) Automated FFEL service loan processing Automated FFEL service loan processing Application standardization initiatives Application standardization initiatives Expanded use of web for state service loans Expanded use of web for state service loans Image workflow Image workflow

GSFC Loan Servicing  Life of the loan servicing in Georgia  Provides borrower statements on website  Use technology to enhance collection efforts  Experienced loan counselors  Offers automatic payment options  Work closely with GSFC’s default prevention task force

What to Consider when Choosing SSP?

Questions Financial Aid College Students Parents