"SLM Financial Web to OpenNet Flow"
SLM Financial Web to OpenNet Flow 8/17/2010 SLM Financial Web to OpenNet Flow Overview • SLM Financial Web - OpenNet Dual Flow Enter loans on SLM Financial Web (Borrower and Cosigner). No change to this process. Custom Link for borrower and cosigner for each school will be provided OPTIONAL - Create log-in and go to OpenNet to e-sign. Note - If you do create OpenNet log-in, documents will be emailed to you as in current process. On OpenNet, borrower must enter reference #2 and student is borrower section before e-signing. On OpenNet, cosigner must enter reference #1 before e-signing. 8/17/2010 www.slmeducationloans.com Start Flow at slmeducationloans.com – No change from Current procedure 8/17/2010 SLM Financial Web - State Selection Page Enter State 8/17/2010 SLM Financial Web - School Selection Page Select your school from Your School Name drop-down and Enter School Contact name - click next 8/17/2010 SLM Financial Web - Enter Loan Application Screen Search by • SSN or Enter Loan • Name Information – No change from current process 8/17/2010 SLM Financial Web - Enter Student Information Screen Enter Student Information – No change from Current Process 8/17/2010 SLM Financial Web - Enter Borrower Information Screen Enter Borrower Information – No change from Current Process 8/17/2010 SLM Financial Web - Enter Borrower Information Screen (Continued) If desired you can add cosigner here by answering “YES” to Do you want to add a cosigner? 8/17/2010 SLM Financial Web - Completed Application Page After Completing Search by Borrower and • SSN Cosigner (if added) or • Nameinformation you will see this verification screen 8/17/2010 SLM Financial Web - Credit Decision Page Credit Decision Screen - Get Loan Decision and exit SLMF Web. 8/17/2010 SLM Financial Web to OpenNet Flow • At this point the school can choose to do nothing and loan documents will be sent. Borrower can also choose to go into OpenNet to print and/or e-sign your loan documents. • Once the loan is approved (either credit engine approval or underwriter approval) borrower can return to OpenNet to e-sign and print loan documents. Borrower can return to e-sign even if SLMF has already sent loan documents. • If borrower chooses to print loan documents and/or e-sign in OpenNet they will be provided a special secure link with the school information pre loaded. Borrower must use the link, since they will not be brought here from slmfinancial.com 8/17/2010 Optional - E-sign or Print Loan Documents The borrower would register to create an OpenNet log-in if they have not previously registered. If they already have a user ID and password, they can log-in from this screen. 8/17/2010 Create Log-In if Borrower Does not Have one To register, borrower must Create User ID, Create Password, enter SSN, Date of Birth, Telephone Number, Zip Code, Email Address, Challenge Questions and Challenge Answer. Note: Data here must match what was entered on the loan application. 8/17/2010 Verify User Information if Log-In is created It will ask the borrower to verify Borrower can now log-in to start the the data entered. If incorrect, you e-sign process. Please note that there can hit Make Corrections button may be up to a 15 minute delay from to go back. when the loan was entered on SLMF Web until it will be available for e- sign. 8/17/2010 Loans in Process Select “Loans in Progress – Complete Your Private Loan” to Student Name will appear here e-sign. Note: If you do not see Loans In Process, the loan is not yet in OpenNet due to the up to 15 minute delay. Please try again in a few minutes. 8/17/2010 Loans In Process Summary Select loan from list and click on Complete / E- sign 8/17/2010 Read Credit Results Borrower will be brought to OpenNet Read Credit Results Screen – click Continue Application 8/17/2010 Enter Application Information Borrower must enter the following on this screen: Student is Borrower Reference 2 (all fields) If Community College you must also enter Program of Study. Click on Submit Application when all information is entered 8/17/2010 Submit Electronic Signature Option Follow the screens to complete E-sign process. Borrower can Print loan documents from this screen and select “no” if you will not e-sign. Select “yes” if borrower will continue and e- sign. Click next to continue. 8/17/2010 Submit Electronic Signature To Submit Electronic Signature – Type in name and click on Next button 8/17/2010 Print Your Loan Documents Print Loan Documents after E- signing 8/17/2010 Review Final Instructions Process is complete and you may log out at this point. 8/17/2010 Cosigner Flow – SLM Financial Web to OpenNet Flow • Borrower and cosigner loan data would be entered on SLMF Web. • If the cosigner chooses to print loan documents and/or e-sign in OpenNet you will be provided a special secure cosigner link. This link will be the same one for all schools. • The cosigner would register to create an OpenNet log-in if they have not previously registered. If they already have a user ID and password, they can log-in. • Once logged in, they will need to complete the application by entering all reference 1 detail. Once complete, they will follow the same e-sign process as the borrower. • The borrower will then log-in and complete their e-sign. 8/17/2010 Future Enhancements • If you are on the SLM Financial Web to OpenNet Flow you will have School Certification and Inquiry in April 2007: • Perform Inquiry by SSN or Name for “real time” loan status • View Exceptions on Loan • Update certain fields such as disbursement dates and amounts, tuition and other fields • Print e-signed Loan Documents • Certify the Loan Online 8/17/2010