January 14, 2009

Do You Know the Answer?

Q. Can lenders receive, review, approve or decline adverse credit decisions online?

A. Yes! Lenders who are profiled to participate in OGSLP’s PLUS Credit Check service option can now perform all of these actions online. A new enhancement available to our lender partners was recently implemented to make reviewing adverse credit decisions for PLUS loans a much easier process that uses less paper.

Until recently, lenders subscribed to OGSLP’s PLUS credit check services received paper credit denial packets through standard mail. This process can take several days to complete and requires the production of paper reports sent through U.S. mail.

A lender now has the option to be notified via e-mail that an adverse credit report has been electronically generated and is ready for review. This process is completed online and reduces mail time, postage costs, the production of paper and the need for personal data to travel through the mail. Sign up today for this excellent service to streamline handling adverse credit decisions on PLUS loan requests!

To subscribe or for more information, contact Kelli Kelnar, School/Lender Support Services Specialist, at 405.234.4313 or kkelnar@ogslp.org.