Application Process
If the borrower is wanting to change the school on their application, can we complete that request?
No, the borrower will need to apply under the correct school and cancel any other applications that are listed under the incorrect school.
What is a requirement on every general inquiry call in regards to a new application?
Check School Eligibility and offer to take an application (when applicable).
You may also offer to send a shopping form.
Customer: "I need a loan for my freshman and sophomore year. How do I apply for both?"
Response: "Great Question! The enrollment period can not exceed 12 months. So with that in mind, you can apply by semester or by year. Would you like to start an application today for your first year?"
How long can they request the Disaster Relief Program for?
2 months, currently.
How can you nominate a peer for their hard work?
Dlife>Bravo!
Teams (Hero)
Through TL/TC
Excellence (PRISM)
When can the loan period dates not be changes on an active application?
When the school does not allow custom loan period dates. (check to see- check box is empty in School Maintenance)
What is the processing time for an application once the application has been submitted?
The entire process may take up to 2 weeks or more to be completed, depending on processing of any additional documents that may be required. (We recommend they apply 1-2 months in advance.)
Customer: "I want to cancel my application. I don't have a cosigner."
How do you respond to the student?
Response: "I understand the difficulty finding a cosigner can present. Keep in mind, a cosigner can be anyone 18 years or older, US Citizen or Perm Resident and has some established credit or credit history. It also doesn't have to be a relative! Did you have anyone in mind?"
When should you request additional details regarding their financial situation and inability to make their payments?
When the question is unclear if the customer is impacted directly by COVID-19.
Examples: Past due, they advise they cannot make a payment, etc.
Where do we find our Yammer page?
Dlife>See More Conversations>Open DianaSaurs
If School Certification is sent electronically and it has been 14 business days, can it be re-sent?
No, advise the customer to contact FAO. SchoolTeam can reach out to the FAO if it has been 14 business days or more since the initial send date. (FAO can also contact us.)
What should be advised if we do not have a lending relationship with the customer's school?
We can offer to check another school, mention DSL.com (PFC) and/or speaking with their FAO.
Customer: "My grandma is my cosigner and she's 95. What happens if she passes away in a few years and she can't pay my loan?"
How would you respond to this customer?
Response: "In the unfortunate event that the cosigner passes away, you will then be responsible for repayment of the loan by yourself."
How do you determine the start date of their Disaster Relief Plan?
If the monthly minimum has been made and not between the due date and the bill generation date, select the day after the due date. If no, select date consent received.
How do view your past Month End Evaluations?
PRISM
How do you check if the customer enrolled in the Automatic Payment Program during the application process?
Notes in AOD. (If they are in ATLAS, it should show up once their loan disburses.)
What are the qualifications for a student loan type Undergraduate, Graduate, MBA, or Health Professions?
Note: Not Parent Loan
Be enrolled at least half-time in a Bachelor's or Associate's degree program at an eligible school and seeking a degree. Be making satisfactory academic progress as defined by your school. Be a US citizen, permanent resident or international student (International students require a cosigner who is a US Citizen or permanent resident). Be 16 years or older at the time you apply. Have your credit checked.
Customer: "My cosigner is self employed so they don't receive paychecks and they don't have an employer, how can I proceed?"
How would you respond to the customer regarding income verification (VOI) needed by their cosigner?
Response: "We definitely understand they may not receive paychecks and I'm happy to provide you with a list of documents they can provide to complete this step! Your cosigner can provide Pages 1 & 2 of the Form 1040, including Schedule C and application tax forms such as Form 1099 and W-2."
When you receive a 'backdating' error, what are your next steps?
Reference the Link'd article. (submit a GSR to Payment Programs to process DRP)
What is the attendance policy?
6 days (2+ hours) in a 4 month rolling period and 6 tardy's in a 2 month rolling period
What steps are taking in AOD for FB67/FCSZ, verification of address after confirmation?
Remove flag by right clicking error code and selecting 'override'. Select 'Re-edit' on the application. Remove account flag by erasing and clicking update.
How many credits are considered half-time and when can a customer qualify for a loan being less than half-time?
The number of credits for half-time status can vary between each school, although it is typically at least 6 credit hours. The customer is going to need to contact their FAO regarding their enrollment status. The customer may qualify for a loan if they attended at least half-time during the calendar year or are in their final year of school.
Customer: "I got denied and you won't let me add a cosigner. This should not be on my credit report and I should of been approved."
How would you respond to the customer?
Response: "I definitely understand how important it is to receive funding for your schooling. Keep in mind, credit criteria is propriety. You did apply for a student loan online. During that process, you consented to us pulling your credit so we are unable to remove that information from your credit report. You will receive a letter in the mail indicating the next steps if you feel you should of been approved."
Response from customer:
I have been laid off from my job as of March 20th, 2020, with no available return date of when I will be able to go back to work. I'm looking for some help as to my payments, as of the 20th I have no income. Any information you can give to help me in this situation would be greatly appreciated.
Ask probing question to determine if the customer is directly affected by COVID-19.
If yes, confirm if the customer is 15+ days past due.
Transfer to no pay or process DRP if applicable.
How do you submit feedback on Link'd/Chalkboard?
Link'd>Tools>Web Tools>DSL Chalkboard Feedback Form