Autumn release provides new OpenNet functionality
Sallie Mae's most recent loan delivery release provides enhanced functionality for both student and university administrative users of OpenNet.
You may have noticed that OpenNet now employs an enhanced security feature for user sign-ons requiring verification of the user's email address and the answering of challenge questions. Several enhancements have also been made to the Application/Loan Summary page in OpenNet to add functionality for institutional users to view Multi-Loan Details and Counseling Loan Summary information.
While you familiarize yourself with enhanced views of the system, please remember that a full summary of new enhancements is available by logging on to OpenNet and clicking on "What's New" at the bottom of the main menu page. You can read the guide to the autumn release in PDF format: OpenNet Web Loan Delivery Enhancements (PDF, 396KB). Technical support for OpenNet users is also available by phoning Sallie Mae International.
Online PLUS process increases approvals
Sallie Mae is pleased to inform you that we have been able to help increase the number of Federal PLUS loan approvals for our U.S. borrower customers, thereby making it easier for students and parents to obtain the education funds they need. We have also streamlined the PLUS online process for our PLUS borrower and endorser customers.
A new PLUS pre-approval form is available for non-U.S. schools profiled on OpenNet to use when requesting a credit decision on behalf of the PLUS applicant. A new form is also available for institutions profiled to request a credit decision on behalf of the PLUS loan endorser. Please contact your Sallie Mae International representative for more details.
Sallie Mae's borrower and lender choice policy
We would like to advise our non-U.S. institutions about Sallie Mae’s operational policy in circumstances in which the lender on the borrower’s promissory note differed from the lender listed on your certification of that borrower’s loan.
When Sallie Mae is the disbursing agent, we intend to contact the borrower directly to resolve any lender discrepancies. If you would like for us to notify you when the borrower selects a lender other than the one provided on your certification form, please let us know. Alternatively, if you prefer that we fund loans according to the lender listed on the promissory note without contacting you or the borrower, even when there is a lender discrepancy, let us know.
We value your feedback greatly, and appreciate you sharing your concerns with us. Should you have any questions about this issue, or need to discuss a process needed specifically for your institution, we encourage you to contact your Sallie Mae International representative.