(LINCOLN, NE) – To meet increased student demand, many financial aid offices have enlisted technologies to streamline processes and enhance communication with larger numbers of students and parents. To assist schools in developing these efficiencies, Nelnet (National Education Loan Network) announced an enhancement to its Ntrust technology, creating a single source for loan information transmission, disbursements, and funds management for both FFELP and private loans.
Ntrust is a Centralized Disbursing Agent (CDA) that provides a flexible and comprehensive solution to schools for the receipt of student loan funds, reports, and CommonLine data files on behalf of Nelnet’s lender partners. Ntrust’s recent enhancement allows Nelnet to transmit data directly to Ntrust participating lenders, giving schools and lenders the choice of lender or guarantor flow used.
Included in the lender routing is a blanket guarantee service. This functionality streamlines the guarantee process for schools by providing information directly to the appropriate lender. In addition, through Nelnet’s Nteract product, schools can view consolidated guarantee results for all lenders, including full-service, Ntrust participating, and route-only lenders, regardless of the guarantee process used.
“The continued commitment to enhancing our products demonstrates Nelnet’s goal of providing the latest in technology resources, while expediting the loan process for schools,” said Don Bouc, President of Nelnet and the company’s chief spokesperson.
Since the first of this year, 188 schools have transitioned their offices to the Nelnet suite of products and services with overwhelmingly positive results.
Nelnet is a vertically integrated educational finance company focused on providing quality products and services to participants in the education finance process. Nelnet offices are located in Albany, NY; Boise, ID; Denver, CO; Fredricksburg, VA; Indianapolis, IN; Jacksonville, FL; Lincoln, NE; Phoenix, AZ; Portland, ME; Tulsa, OK; and Washington, DC.
Nelnet is a registered service mark of Nelnet, Inc. All rights reserved.