Online System Highlights
Automatic Proration of Payment Amount
As a Campus Partners
customer, you do not have to worry about keeping in compliance
with federal guidelines when dealing with a borrower with multiple
loans or multiple grace or deferment periods. The borrower's minimum
payment amount is always billed. Our system keeps up with these
loans so you do not have to.
Automatic Reprocessing
Any transaction entered
into our system, which would affect other data, automatically
causes that data to be reanalyzed. Since our system is "real-time
live update," the results of any transaction entered are
displayed immediately. If data is entered with a retroactive date
that would normally require other transactions or fields to be
reprocessed, the system reprocesses them automatically. No manual
calculations, which can create errors and are very time-consuming,
are ever necessary. The results of backdated changes are shown
immediately. In addition, the transaction is recorded in the appropriate
sequence in the chronological history file. Current and accurate
data are assured at all times.
Automatic Separation
When a loan is placed
on our system, an expected separation date is requested. The customer
is then asked only to monitor borrower separation dates
to ensure they are still correct. The Campus Partners' system
automatically evolves a borrower from enrolled status to grace
status, without the institution having to contact us.
Due Diligence Contacts
Campus Partners provides
past-due contacts consistent with federal regulations and institutional
requirements which are automatically generated and mailed
by Campus Partners at the given number of days past due.
Past due notices contain a complete statement of the account(s)
with a message reminding borrowers of their obligation and the
possible actions, which may be taken against them in case of default.
The text of the past due contacts can be modified to reflect specific
requirements.
Consolidated Billing
All of a borrower's
loans (up to five) appear on one statement for your borrower's
convenience. Loans can be consolidated within programs or across
programs.
Conversion Image
Campus Partners maintains
the complete record of the loan condition at the time of conversion
to our system. This will support the maintenance of the audit
trail, especially due to automatic reprocessing. The conversion
image of the loan may be updated as a result of transactions prior
to conversion. For more information on conversion, click
here.
Daily Interest Accrual
Only Campus Partners
accrues interest daily instead of on a fifteen or thirty day cycle.
Daily interest accrual rewards borrowers who make their payments
early, and penalizes those who make them late. This daily interest
accrual is the most accurate interest accrual method in the industry.
Daily Payment Posting
Campus Partners posts
borrower payments, new loans, and advances to all accounts on
a daily basis. Borrower files are updated each evening, with the
most recent information being available the following day.
Immediate Update
All transactions are
posted to borrower accounts immediately. Any reprocessing required
as a result of posting is automatic and instantaneous.
Loan Monitoring
Loans may be flagged to appear on the monthly Loan Monitoring Report. This unique feature allows selected loans to be monitored.
Permanent Chronological History File
Campus Partners is
the only servicer that maintains a complete online historical
record of all activity that has occurred on a borrower's account.
Questions concerning payments, correspondence, past-due notices,
changes of address, and other items can be quickly researched
through the history file. History can be reviewed in total, or
by transaction type (i.e., payment history, cancellations, etc.)
This information is available through our online system or through
your Customer Service Representative.
Secondary Address & Telephone Numbers
Campus Partners' system
can store up to three secondary addresses and telephone numbers
for each borrower. This information is automatically utilized
when the borrower's primary address becomes invalid. This approach,
exclusive to our company, has proved to be extremely beneficial
in reducing the number of past due accounts due to bad addresses.
Special Repayment Agreements
We offer a feature
called "Exception/Special Billing," which is the temporary
billing of a reduced or increased amount on a specific loan, as
instructed by the lender. The system automatically reverts to
the original billing plan at the end of the period or if the borrower
fails to meet the obligation. A monthly report helps monitor these
accounts.
Rules-based Processing
Our online system was
aggressively designed with rules that drive the system in its
processing. This allows the institution to select how the service
is delivered. In many cases, this includes the selection of specific
formulas for the processing of collection costs and late charges,
as well as other items such as the ordering of data on reports.
A variety of features are available because of the rule-based
process.
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