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PTI's priority School Certification Service (pSCS) allows lenders who originate private student loans to request certification from schools via CommonLine, the industry standard for financial aid communications. pSCS converts loan data into CommonLine protocol, allowing lenders to request verification of a student's enrollment status and funding needs.
pSCS allows lenders to lower the risk associated with student loans by working with the school to:
• Verify student eligibility.
• Obtain an additional layer of information regarding the borrower's credit worthiness.
• Understand the "real" funding needs as determined by the school certification amounts.
Lenders submit student information from their system to pSCS, which then converts it to CommonLine and routes it to the school for processing. The school's system will send the information through its verification process, after which it is routed back through the pSCS for conversion back to the lender's preferred format.
If a school does not support CommonLine, pSCS will contact the school via email with instructions to log in to the pSCS and create an online account. Once an account has been created, the school will be able to go to a secured website to view student data and confirm the information is accurate and verify the certification request, or make adjustments to the data.
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pSCS converts loan data to/from CommmonLine, facilitating communication with higher education institutions. This service allows lenders to accurately gauge loan risk by verifying enrollment status and school certified loan amounts. |
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