Great Lakes' ScholarNet for Private Loans More Widely Used Than Ever Before
Private loan processing network has grown to over 1,000 schools
Madison, Wis., November 13, 2017—Steady growth in the use of ScholarNet® for Private Loans was marked by over 100 schools joining the network in the past year. There are now over 1,000 schools streamlining the processing of private education loans via ScholarNet for Private Loans and FASTChoice™, a private loan counseling and lender selection tool.
Schools have reported as much as a 60% reduction in time spent processing private loans while using the ScholarNet for Private Loans solution offered by Great Lakes Educational Loan Services, Inc. (Great Lakes). As a lender-neutral tool, ScholarNet connects schools with hundreds of lenders to automate the online exchange of private student loan data and funds.
The high number of schools using ScholarNet for Private Loans not only reflects the efficiencies and time savings gained by using the tool, but also the high level of support Great Lakes has to offer. "We thank the schools who trust Great Lakes and have partnered with us to make ScholarNet for Private Loans successful," says Brett Lindquist, Chief Marketing and Sales Officer at Great Lakes. "The 1,000 school milestone and the ongoing launch of ScholarNet® for Scholarships signify that together we are making a difference for schools, funds providers, and ultimately the students we all serve."
Great Lakes recently leveraged our expertise and capabilities to launch ScholarNet for Scholarships to further simplify financial aid. ScholarNet for Scholarships connects schools and scholarship providers to modernize an outdated process through the electronic delivery of scholarship funds.
Great Lakes invites schools and scholarship providers interested in streamlining and simplifying the delivery of funds to visit ScholarshipMovement.org to learn more about the Scholarship Movement and how it benefits the many students who rely on vital scholarship funds.