2/10/2005
Product Corner

We’re pleased to add this new segment to our newsletter by highlighting our lender clients’ products. We believe this will be of great value to schools – getting a chance to learn more about the products as well as knowing when updates are available.

Lenders who would like to highlight announcements about their products may contact Pam Hicks at 405.234.4452 or phicks@ogslp.org.

Nelnet’s Nteract Product
Nteract^SM is an open, Web-based student loan origination system designed to integrate the entire student loan process and improve coordination and communication between financial aid offices and lenders. The software seamlessly unites financial aid offices, guarantors, lenders, secondary markets, and servicing companies. It provides the financial aid administrator with a complete solution for processing application certifications, initiating change transactions, and can serve as a comprehensive loan delivery tool. Additionally, Nelnet works with Oklahoma schools to provide products and services to make the student loan process as easy and efficient as possible. Nelnet’s open platform works with OGSLP and can be used with any lender a school chooses to work with. Benefits of using Nteract are:

Web-based software design

• Schools never have to worry about software upgrades or system changes.

Automated application processing

• Applications can be handled electronically, saving valuable time and avoiding manual processing mistakes.

• Instant PLUS pre-approval credit checks.

• Pre-filled application fields with the ISIR upload feature, helping to eliminate duplicate entry of data.

Online loan inquiry/tracking

• Real-time access to disbursements and loan record details.

Change transactions

• Real-time changes online.

Customized reporting

• Allows schools to create user-defined reports on demand. Reports can be viewed online or routed to a printer.

Down/uploadable file transfers

• Allows schools to seamlessly transfer CommonLine files between Nteract and their school-based software.

• ISIR upload allows schools to upload fields from the ISIR record to store on Nelnet’s database.

Title IV Calculator

• Provides an interface for schools to calculate the return of Title IV funds.

Online help

• Easy-to-navigate, comprehensive online help system.

Secure system (VeriSign Secure Site)

• Sophisticated encryption techniques designed to prevent compromise of data and file transfers.

Nteract^SM offers highly flexible solutions for educational finance professionals, providing simple, powerful integration according to needs.

For more information on Nteract or any of Nelnet’s products and services, please contact Jeremy Cooper (jeremy.cooper@nelnet.net) or Ron Hancock (rhancock@bokf.com).