Central Disbursement Service

Simplifies your day-to-day processes to efficiently manage private loan disbursements

Get Started by contacting your Great Lakes representative.

Highlights

If you're still processing private loans manually, or using multiple originators and ACH accounts for your disbursements, maybe it's time to consider a more efficient solution that can end your disbursement headaches. Central Disbursement Service (CDS) works seamlessly with ScholarNet® for Private Loans to provide a single point of access for disbursing funds from all your private loan lenders.

How It Helps You

Connects your school to hundreds of private loan providers across the country.

Eliminates data collection, manipulation, and aggregation tasks to free up your staff's valuable time.

Accessible from any Internet-connected computer and doesn't require IT staff support from your school.

Supporting Students

If you enjoy your job, but often find yourself pressed for time, CDS can help. By centralizing your disbursement services you'll free up much-needed time that you can then use to work one-on-one with students who need your assistance, or to focus on other pressing matters within your office.

Ready to Go

The CDS move-in process is quick and easy. Your dedicated Great Lakes representative will manage all the details, including ongoing, personalized support once you're up and running.

Your ResponsibilityComplete a Simple Form »

Complete a Simple Form:

You confirm your plans to use CDS with your Great Lakes representative and complete a simple form describing your preferences (no contract needed)...

Our ResponsibilityConfigure »

Configure:

...Your rep works with our operational team to quickly configure the details and options you've chosen.

Our ResponsibilityReach Out »

Reach Out:

Then, we reach out to lenders to make your connection seamless and ensure proper routing...

Lender ResponsibilityConfirm »

Confirm:

...and lenders confirm their systems are ready to go.

Our ResponsibilityPenny Deposit »

Penny Deposit:

With the lenders on board, we send a test—a penny deposit to your account—to verify everything's good to go...

Your ResponsibilityConfirm »

Confirm:

...and you send us a simple email reply, letting us know you received the deposit.

Our ResponsibilityWelcome »

Welcome:

We acknowledge your participation with a welcome email and offer training so you're ready to go from Day One.

Your ResponsibilityReady to Go »

Ready to Go!

You decide whether training is needed, and then you're good to go. It's as easy as that!