Supporting Gap Funding with Clarity, Compliance, and Care

As private education loan activity increases, financial aid offices across the country are reassessing their approach. For many campuses, private loans are once again requiring focused attention.

With that renewed focus comes a familiar challenge: how do you provide structured, compliant guidance without increasing administrative burden?

For more than 30 years, ELM Resources has supported financial aid offices. ELMSelect, our private loan comparison tool, was specifically built to help institutions meet today’s compliance expectations while keeping borrower choice front and center.

Grounded in NASFAA’s Private Education Loans: Administrator Reference & Best Practices (2026–27), ELMSelect supports transparent, documented, and neutral private loan processes.

Compliance Needs

If your institution recommends private loan providers to incoming students, federal regulations require that your office provide:

• Clear disclosure of how lenders were selected

• Transparent presentation of terms and benefits

• At least two unaffiliated lenders

• A borrower-choice statement

• Annual review and documentation

• A Code of Conduct prohibiting revenue sharing or compensation

• Support for required self-certification information

These safeguards protect transparency, neutrality, and borrower choice.

ELMSelect is structured to support each of these requirements, helping you meet regulatory expectations without reinventing internal systems.

What Strong Practice Looks Like

Financial aid offices typically evaluate lenders using criteria such as:

• Total borrower cost (APR, fees)

• Repayment flexibility

• Customer service and complaint trends

• Co-signer release policies

• Data security and servicing history

ELMSelect presents lenders in standardized, side-by-side comparisons that align with these standardized practices.

This is governance, supported by structure.

Keeping It Practical

Maintaining open communication with lenders and professional peers remains essential. If your campus needs an RFI or RFP, it should align with NASFAA’s Suggested PLA Selection Criteria and stay focused.

Just as important, avoid directing families to general internet searches or paid-placement comparison sites. Marketplace models often prioritize lender participation over institutional neutrality.

ELMSelect provides a neutral alternative — built for higher education, not lead generation.

Why Financial Aid Offices Choose ELMSelect

ELMSelect offers:

• Standardized lender comparisons

• Reinforced borrower-choice language

• Streamlined certification and disbursement support

• Customizable sections for school-specific disclosures

• A platform that does not monetize student inquiries

For campuses seeking a structured, free, and compliant way to support students in need of gap funding, ELMSelect remains the trusted private loan comparison solution designed specifically for higher education.

Contact Us today to learn more about ELMSelect.