What makes ELM different from other student loan delivery systems?Our student loan data exchange platform is designed to be open, lender-neutral and non-proprietary. This means you, as a school, can choose to work with any lender, guarantor or servicer, and we will provide the necessary connections for the exchange of loan data without additional programming on your part. Your user experience with ELM will be the same regardless of the lender, guarantor or servicer you choose. ELM supports over 2,100 lender codes and 160 alternative loans. We currently have over 2,800 schools using ELM products. We can be your one-stop provider for loan evaluation and selection, neutral data exchange and loan disbursements and returns. Are ELM's services available to those who don't have access to technical support?Yes, this is an area where ELM is especially helpful. For example, ELM can map to your system, eliminating the need for special programming. All you need is an extract file, a tool that's built into most systems. Our Training Specialists are available to provide training for your staff on how to derive the greatest benefit from ELMNet. Will my Student Information System be compatible with ELM?Yes, ELMNet works with most large commercial systems available today. ELM also maps easily to new systems and requires minimal effort on the part of the school. Can ELM help a Direct Lending School like mine?Absolutely! Even if you choose to process all Stafford loans through Direct Lending, you can still use ELMNet for PLUS or alternative loans. ELM allows you to streamline both processes. Considering going back to FFELP from Direct Loans? ELM makes the transition easy and painless. ELM's single point of data exchange helps streamline your new loan process, resulting in a simpler and more efficient transition. How do I find out more about ELM Resources?If you are interested in our services, select the Products link in the left navigation bar on our web site to find out more about ELMNet, ELM NDN and ELMSelect. If you are interested in adding ELM products to your school, view our map here and contact the Business Development Manager for your area. You can also reach us by calling toll-free 866-629-4681, Option #4 or fill out our online contact us form. Is it necessary to install software to use ELM products?No, ELM products are web based applications, so there’s no software to install. All you need is access to the Internet. Can ELMNet be integrated into my current FAM system?Yes, ELMNet is compatible with any Financial Aid Management (FAMS) or Student Information System (SIS) that supports CommonLine 4 and 5 and CommonLine Common Record (coming soon). No additional programming is required. However, we do provide additional options for processing loan applications that my require some level of programming for systems that do not support CommonLine 4 and 5 or CommonLine Common Record. Our knowledgeable Customer Service staff can assist you in making that determination. ELM has partnered with Datatel Colleague to provide a streamlined interface for sending and receiving files. This process allows a school to easily upload/send or download/receive files from ELM once the file is created. What if my loan provider or guarantor doesn't belong to ELM?ELM membership is open to all higher education student loan providers. If you have a loan provider who is not currently a member or affiliate of ELM, we will contact your loan provider and request participation on your behalf. Is my loan information secure?Yes, confidential student information is protected by ELM's strict security standards. SSL (Secure Sockets Layer) encrypts data that is exchanged between your browser and our web server, and supports most browsers (Microsoft Internet Explorer and Netscape). File transfers to and from ELM's web site are also encrypted with SSL. Data files transmitted via POP3 are exchanged using Secret Agent encryption, and ELM supports PGP encryption of files transferred via FTP. Is there a Glossary of Terms?Yes, click here to access the Glossary. |
