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| Single Source Partners (SSP) |
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Single Sources Partners is the signature Federal Family Education Loan Program (FFELP) origination and disbursement service available through GHEAC. SSP offers a partnership between GHEAC, participating lenders and postsecondary institutions. This partnership gives schools and students a simplified process and single point of contact from application processing through fund disbursement. |
SSP features include:
- A single point of contact for borrower FFELP information;
- Most loans process and guarantee in real time when using Scholarnet™, web-enabled school-based software. Scholarnet™ is an open platform and can be used for any lender-guarantor combination;
- Allows institutions to give their borrowers the ability to sign the PLUS, GRAD PLUS and Stafford Master Promissory Note (MPN) in real time;
- Stafford and PLUS MPN processing options let a school tailor processing to meet its needs;
- Schools control the days of the week and method of disbursement at the loan level;
- There are 20+ participating lenders utilizing the SSP process.
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| Single Source Partners + |
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SSP+ offers all the features of the SSP process, however with SSP+ all loan disbursements are sent via the National Disbursement Network (NDN).
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| Lender Flow/Guaranty Only |
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Lender Flow/Guaranty Only is a process where the lender is responsible for coordinating all aspects of originating and disbursing a new loan.
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| Blanket Certificate of Guaranty (BCG) |
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The BCG is an agreement between a lender and GHEAC which permits the lender to disburse Stafford and PLUS loans prior to the lender submitting data to GHEAC. Once the lender submits the data, GHEAC will review the loan data submitted by the lender, including confirming the school’s eligibility, checking the borrower’s aggregate limits and determining if the borrower has a previous default.
Both the lender and school most recent cohort default rate must be equal or less than 10%.
Schools interested in finding out more information about the loan processing options available should contact their Client Services Representative or email clientservices@gsfc.org.
Lenders interested in finding out more information about the loan processing options available should contact Caylee French, Associate Vice President, Financial Aid Operations at cayleef@gsfc.org or by calling 770-724-9244.
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