Products and Services
Get the flexibility you and your customers need in a guarantor
American Student Assistance® offers a wide range of products and services to support the administration of Federal Family Education Loans in either a guarantor or lender workflow.
ASA understands that many lenders have an established process with their school customers for FFELP origination. That’s why we provide a behind-the-scenes guarantee process that keeps things simple for your customers. We’ll provide you and your clients with smooth processing and simplified procedures, while keeping a low profile so you can remain the one point of contact. The Lender Flow/Guarantee Only process is best suited for those lenders that already have origination and disbursement services in place. A lender can use both a Lender Flow and Guarantor Flow depending on their clients’ needs. ASA products associated with this workflow include:
- – Blanket Certificate of Guarantee
- – ELM Partnership
- – Lender Repurchase Agreement
- – Research Tools: ASA Direct
Lender Flow—Guarantee Only
Blanket Certificate of Guarantee
The blanket certificate of loan guarantee (blanket guarantee) permits a lender to make Stafford and PLUS loans to eligible borrowers without receiving prior approval from a guarantor. This reversal of steps in the traditional loan origination process speeds loan approvals and disbursements for schools and borrowers.
ELM Partnership
ELM automates the exchange of and updates to FFELP and alternative loan data via the Internet. As a full ELM member, American Student Assistance has instituted a team of internal ELM experts who work closely with our ELM school, lender and servicer partners to ensure smooth processing. The ELM team allows schools a central point of contact for origination and disbursement.
Lender Repurchase Agreement (PLUS e-Signature)
For those lenders that use our PLUS on the Web product to enter credit decisions, it is now possible to indicate online that you hold an electronically signed MPN obtained through your own website. This allows ASA to originate and disburse on the PLUS loan that was indicated as electronically signed.
Research Tools: ASA Direct®
ASA Direct is a Web-based FFELP administration tool that offers you and your borrowers a single point of contact for managing all aspects of the student loan, including:
- – loan origination
- – e-Signature
- – real-time statuses
- – electronic updates
- – disbursement approvals, cancellations and reductions
- – customized reports
Guarantor Flow—Full Service
ASA’s Guarantor Flow or Full Service product handles many of the day-to-day activities associated with student loan origination, all at very little cost to the lender. Our premier Full Service product enables ASA to perform all origination functions on a lender’s behalf. Choosing a Full Service relationship with ASA removes the daily administration of the FFELP program from your organization and puts it in ASA’s hands. ASA products associated with this workflow include:
Application Processing
ASA handles all aspects of application processing for both Stafford and PLUS on behalf of the lender. Under application processing:
- – Schools submit applications directly to ASA.
- – ASA processes all completed applications for guarantee.
- – ASA works on the lender’s behalf to ensure that the appropriate data is collected and that loans are approved. ASA will provide personal follow-up to borrowers and schools on all incomplete applications.
- – Credit checks are completed on PLUS and Endorser applications. ASA sends approval and denial letters for all PLUS loans on behalf of the lender. ASA also handles all appeals.
ASA Direct®
ASA Direct is a Web-based FFELP administration tool that offers you, your schools and your borrowers a single point of contact for managing all aspects of the student loan, including:
- – loan origination
- – e-Signature
- – real-time statuses
- – electronic updates
- – disbursement approvals, cancellations and reductions
- – customized reports
Common Account Maintenance
ASA fully supports CAM, an event-driven, transaction-based, reporting process for lenders, servicers, and guarantors. CAM facilitates the exchange of loan, disbursement, MPN, person records and default aversion assistance in a standard electronic format.
Electronic Signature (PLUS & Stafford)
Electronic signature (e-Sign) is a process that allows a student and parent borrower to electronically “sign” a legal document, such as a Stafford/PLUS MPN. e-Signature enables a borrower to sign his/her education loan online. ASA’s e-Signature process offers a completely paperless, efficient, and secure way for borrowers to electronically sign their loans.
Flexible Disbursements
Funds can be delivered any business day of the week and the disbursement schedule can be customized by month.
Hold and Release
Loan funds are disbursed at the school’s discretion. A “hold and release” feature lets school officials verify that students are enrolled and eligible for loan funds prior to disbursement, decreasing the need for cancellations and reinstatements.
PLUS by Web or Phone
Parents can jumpstart the PLUS application process online or over the phone, and request a real-time credit decision, by visiting ASA Direct, or calling American Student Assistance customer service at 800.999.9080.
Servicer Transfer
Ensure your loan portfolio’s smooth transition into repayment easily and efficiently with ASA’s Servicer Transfer. Three days following the lender funding date, ASA will transfer the application and associated documentation to the lender or servicer handling repayment.
