Internal training presentation for new call-center hires; learning-style emphasis is on fun. Unfortunately, the accompanying sound files don't seem to be allowed on this site. :-(
8. Lender Flow (School Initiated) School sends certification file to the Lender 1 2 Lender receives the certification and then contacts borrower with requests to complete an MPN 3 Borrower completes. signs & returns the MPN to the Lender 6 Lender disburses funds to school Lender requests guarantee from ASA 4 5 Lender receives guarantee back from ASA
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10. Lender Flow (Borrower Initiated) 1 2 Lender receives application from the borrower and then sends request to school for certification 3 School receives Lender’s request and sends back certification Lender requests guarantee from ASA 6 4 Lender disburses funds to the school Borrower applies for college loan thru Lender 5 Lender receives guarantee back from ASA
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12. Guarantor Flow (School Initiated) School sends certification file to Guarantor (ASA) 1 2 ASA receives the certification and then contacts borrower with requests to complete an MPN 3 Borrower completes. signs & returns the MPN to ASA ASA obtains the funds from the lender 5 4 ASA disburses funds to school
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14. Guarantor Flow (Borrower Initiated) 1 2 ASA receives application from the borrower and then sends request to school for certification 3 School receives ASA’s request and sends in certification ASA obtains the funds from the lender 5 4 ASA disburses funds to the school Borrower applies for college loan thru ASA
18. Guarantor Flow (School Initiated) School sends certification file to Guarantor (ASA) 1 2 ASA receives the certification and then contacts borrower with request to complete an MPN 3 Borrower completes. signs & returns the MPN to ASA ASA obtains the funds from the lender 5 4 ASA disburses funds to school
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20. Lender Flow -School Initiated 1 2 Lender receives certification from the school and then contacts borrower with request to complete an MPN 3 Lender requests guarantee from ASA 6 4 Lender disburses funds to the school 5 ASA receives guarantee-request file and responds back to the lender with guarantee affirmed School sends certification file to Lender Borrower completes. signs & returns the MPN to Lender
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22. TRUE or FALSE: In a Guarantor-flow process , loan data (a.k.a ‘certification file’) from the school is first sent to the lender. In a Guarantor-flow process , loan data from the school is first sent to the guarantor. F A L S E
25. American Student Assistance ® 100 Cambridge Street, Suite 1600 Boston, MA 02114 (800) 999-9080 (617) 728-4265 F A X (800) 999-0923 T D D www.amsa.com