EDFUND Launches gps — The EDFUND Student Loan Navigator

Choice in financial aid partners and process flows is key to a successful financial aid operation. EDFUND is committed to enabling you to work with any partners you choose, and putting the right loan application process to work for your institution and your borrowers.

Simple to implement and easy to use, gps is completely open and compatible with all other systems, allowing you to certify loans and exchange files with any lender or guarantor – without restriction. Created as a replacement for EDFUND's two preceding loan management systems, gps offers all of the features of the former products plus much more!

Schools who sign-up for gps can expect nothing less than EDFUND's premier customer service, including free custom training and technical support at any time.

For more information about gps, contact your EDFUND client relations manager today.

The Choice is Yours.... the Commitment is Ours!™

NASFAA Receives Guidance from the Department of Education on “Unaffiliated” Lenders

On April 1, 2008, NASFAA posted guidance they received from the Department of Education on the issue of unaffiliated lenders on preferred lender lists.

According to the article:

“NASFAA recently received guidance from the Department of Education clarifying the meaning of "three lenders that are not affiliated with each other;" specifically if this requirement applied to only the first three lenders on a preferred lender list or if it applied to all preferred lenders. The Department is interpreting this provision to apply to all lenders that an institution places on its preferred list.”

“Unaffiliated" Status of Lenders on a Preferred Lender List —NASFAA

Getting the Most From Your Training 

EDFUND offers a vast array of training topics to choose from in both webinar and national in-person workshops through the EDFUND INSTITUTE. See what's new and available now!

March 20 marked the first day of spring. Now that it's here, the days are warm and sunny. People are beginning to shake off the coats of winter and embrace the vitality of the season – getting out, walking and enjoying the outdoors.

Many of us, however, work indoors, and working at a computer can take its toll on your body. You may suffer from muscle strain, eyestrain or stiffness. There are countless resources available to help you avoid these types of problems. During Web training, you spend an hour or more at your computer, so you'll want to be physically comfortable to remain alert and focused.

WebMD offers these stretching exercises to ease back pain and boost energy:

Shrug your shoulders to release the neck and shoulders  

Inhale deeply and shrug your shoulders, lifting them high up to your ears. Hold. Release and drop. Repeat three times.

Stretch your back with a “big hug”

1. Hug your body, placing the right hand on your left shoulder and the left hand on your right shoulder.
2. Breathe in and out, releasing the area between your shoulder blades.

Loosen the hands with air circles 

1. Clench both fists, stretching both hands out in front of you.
2. Make circles in the air, first in one direction, to the count of ten.
3. Then reverse the circles.
4. Shake out the hands.

Stretching helps to improve your circulation and flexibility and release tension. As you prepare for your next EDFUND webinar, consider performing these simple stretches to be good to your body and improve your focus.

Private Loans — Helping Students Find the Best Deal

How do you guide students to the best deal on private education loans?
If a student has reached the maximum borrowing amount for federally guaranteed student loans, they may need to consider a private loan to continue their education.

First, start with what we all know: Whether it's a loan for a home, a car, or credit cards, people with the best credit get the lowest interest rates and people with the worst credit get the higher rates. Private student loans are the same. A lender isn't going to give a student a low rate if that student has less-than-perfect credit. This is true for all types of loans.

Here's how to help your students find the best deal that fits their credit situation:

1. List all private loans available. (Search the Web for “Private Education Loans” to find Web sites that aggregate all available private loans)
2. Separate private loans by term. Does the borrower want a 10-, 15- or 25-year term?
3. After separating by term, sort by the interest rate. Borrowers with good credit can focus on loans with the lower rates. Borrowers with poor credit may need to consider those loans with slightly higher rates.

More information from EDFUND:

Credit 100 - Understanding Credit — This Building Futures financial literacy session defines credit, reviews the fine print and educates students on how to read a credit offer.

Borrowing for College - Private Loans
Thinking About a Private Loan? –— Borrowers should ask prospective lenders these questions to help ensure they make the best choice.

NewSource Hits the Newsstands

To celebrate Financial Literacy month, the April issue of NewSource introduces the new, comprehensive Building Futures Financial Literacy program. It's packed with tools to help you enhance students' money management skills, and it's available to you now! The financial literacy issue of NewSource also gives a rundown of the new College Access Challenge Grant Program for states. Read it today!

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