PRESENTS THE BORROWER EXPERIENCE
The Borrower Experience Table of Contents ipromise..3-44 Page 2
Campus Partners ipromise is a web-based product, which helps you manage student loans from the beginning of the student loan process. ipromise consists of on-line entrance counseling, Master Prom Note presentation and acceptance, loan interview, e-signature, and Truth-in-Lending Disclosure for first time Perkins borrowers. It was developed with strict attention to Federal Regulations Page 3
guidelines. It offers services for borrowers receiving subsequent awards from schools using single award year and multi award year Prom notes Your college or university s name will appear on entrance counseling and loan interview Web pages so your borrower always understands that you are the lender Campus Partners ipromise service supports customers during the financial aid process. STEPS STUDENTS TAKE TO RECEIVE FINANCIAL AID 1. Student accepted by college for admission. 2. Student files the FAFSA (Free Application for Federal Student Aid). 3. Within 2-6 weeks they will receive a Student Aid Report either through regular mail or email. The timing depends on whether they filed by mail or electronically. 4. If selected for federal verification, they will be sent a request from the college to submit copies of their tax returns, W-2s, and complete a verification form. 5. In April or May they will receive an award notice from the college. 6. They must then complete, sign and return the award notice indicating whether they would like to borrow a student loan. Customers can then provide Campus Partners with a data file containing financial aid awards to existing and incoming students. Customers may elect to have Campus Partners notify their students when their award is ready for viewing. Their borrowers can be notified via letter (a fee is charged to the customer) or by e-mail. The text of the message appears below in a sample letter. Page 4
Date: 09/02/2006 09:32:43 AM EST Subject: Your Perkins Loan Dear Borrower: Campus Partners has been notified of your Federal Perkins Loan award by (university name). Before (university name) can disburse the loan, you must complete Federal Entrance Counseling and a Loan Interview Questionnaire and sign your Master Promissory Note (MPN). Campus Partners is pleased to make this process available to you as a convenient on-line service. To begin your session, please visit us at http://ipromise.campuspartners.com. By following the directions on this Web site, you will be able to become a registered user of our site and complete your Entrance Counseling session, your loan interview, and MPN. You can even e-sign your MPN using your FSA pin. If you have forgotten your FSA pin, you may access the federal student aid Web site at www.pin.ed.gov to obtain a duplicate pin number. If you do not have access to our on-line service, please contact (your university) to set up an appointment to complete the Federal Perkins Entrance Counseling session, your Loan Interview, and your Master Promissory Note (MPN). Congratulations on your Federal Perkins loan award and best of luck in your studies. Sincerely, Campus Partners After notification, students can then access the ipromise Website, complete their Entrance Counseling session and Loan Interview, and electronically sign the Master Promissory Note (MPN) if desired. Students who do not want to sign the MPN electronically can print their MPN from their computer or receive a printed copy of the MPN through the mail. Page 5
Welcome to ipromise The student/borrower enters the Web site by selecting the appropriate Enter here link on the Welcome page. When a student/borrower has entered the ipromise Web site, they will be asked to identify their school. First, they will select the state in which the school is located and then will be provided with a listing of schools within that state that currently participate in the Campus Partners ipromise program. States will only be listed if at least one school within the state currently participates in ipromise. In order to comply with specific requirements of the Electronic Signatures in Global National Commerce Act ( E-SIGN ) (Public Law 106-229), the student will also be provided with the specific hardware and software requirements necessary to access and participate in electronic records. The student must affirm their equipment meets the minimum standards in order to proceed. Page 6
Once the student/borrower has selected the appropriate State and school and affirmed their ability to comply with the hardware and software requirements and selected the Continue button, the Borrower/Student Registration page appears. If the Exit button is selected, the First Time Borrower page reappears. Page 7
When the Continue button is clicked, the Registration page appears. They will be required to provide their Social Security Number, the first three letters of their last name and their date of birth. If the student/borrower has already registered, they can select the login button to go directly to login. Using the information provided, when the request is submitted, the student s award information will be located and the following Web page will be presented to the student. The student/borrower must confirm their identity, select a secret question, and supply the answer. When they have completed each item and click Submit, the registration will be processed and a User ID and Password will be created and provided on the Registration Confirmation page. Page 8
At this point, the student/borrower has become a registered user of ipromise. The student/borrower should Go to Login at this time. After log in, the student/borrower will be presented with a link to their Entrance Counseling and Loan Interview, which must be completed before the MPN or Truth-in Lending Disclosure will be displayed. Alternatively, they may exit at this time, return to the site later to log in, complete the Entrance Counseling session, Loan Interview, and sign their MPN. Page 9
ipromise Login The student/borrower will use the User ID and Password created at registration to: Log in to ipromise, Complete their Loan Interview, Sign the MPN, and View/print the Truth-in-Lending/Total Loan Indebtedness Disclosures and MPN. Page 10
Invalid Login Message If the User ID or Password entered is invalid, the following message will be displayed. The user should re-enter the User ID and/or password and try again. If the student/borrower has forgotten either the User ID or Password they should click the Get My User ID/Password link. The Get My User ID/Password option allows the student/borrower who has forgotten either data element to obtain both the ID and Password by providing the same identifier information as was supplied when they first registered on ipromise. Based on the information entered, the database will be searched, and if a matching record is found, the following Web page will be returned. The secret question chosen by the student during registration will be presented. The student must respond correctly to the question to receive their ID and Password. The answer field is not case sensitive. Page 11
If the correct response is provided, the User ID and Password will be presented. Page 12
Welcome Page The borrower/student will be required to complete each section of the loan counseling session in the order shown on the Welcome page (referred to as the Home Page from this point on.) We will cover each session of the Home Page on the following pages. The student will begin by clicking the Requires Completion link under the Entrance Counseling heading. Page 13
The student will then begin the Entrance Counseling session by clicking the Start button. The Entrance counseling session will consist of seven (7) sections of informational text followed immediately by a multiple-choice question/answer. The student must correctly respond to each question in order to proceed to the next question and ultimately complete the Entrance Counseling session. The answer to each question is the letter D. Page 14
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NOTE: If the student selects the Exit button at any time, the following warning will appear. If they select OK, NONE of the previously selected information will be saved. Incorrect Responses An incorrect response to a question will result in an error as shown below. The user will have an opportunity to correct their response and continue. Error message for incorrect responses. Page 22
When the student has correctly responded to all questions, the Entrance Counseling session is completed. The student sees a Congratulations page. Selecting the Exit button will return the borrower to the Home Page Selecting the Continue button will display the first page of the Entrance Interview Page. Please refer to the document ipromise Entrance Counseling Questions for Other Loan Types to see the questions for INST, HPSL/LDS/PCL and NSL. Page 23
The Loan Interview From the home page, the borrower should select the Requires Completion link located under the Loan Interview heading. Selecting the Cancel button will return the borrower to the Home Page Selecting the Continue button will display the first page of the Loan Interview Page. Page 24
The Loan Interview This page will be presented with some data pre-populated using information provided by the school on the Award file. Some of the data will allow updates by the student, such as the local address, permanent address, email address and driver s license number and state. Other data elements prevent update by the user such as the name, SSN, DOB, and Expected Graduation Date. One data element that is not pre-populated and requires input by the student is Major.. There are no edits on the field; therefore, a major of Unknown, Undecided, etc. is acceptable. This page and those that followed will be presented as blank. Fields identified with an asterisk require input by the student. All other fields are optional since they may not apply to everyone. Page 25
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If the student clicks Continue or Complete and all information is complete, the Loan Interview Thank You page appears. If the information is incomplete, a warning dialogue box appears, and the student is prompted to enter the missing information. Page 27
Loan Interview Thank You Page When the student has successfully completed the Loan Interview, the following page will be displayed. If the Logout button is selected, the borrower will be returned to the Home page. If Return to Home is selected, the borrower will be returned to the Home page and the loan interview will be marked as Completed. Page 28
The Loan Interview Completed Page From this page, the borrower can log out and complete the session at a later time or select the Requires Completion link under MPN. The following page will be displayed. Page 29
The MPN Introduction Page This page provides information to the student regarding the options for signing the MPN. From this page the student can view their Truth-in-Lending statement, cancel the MPN session, or continue by viewing the Electronic Signing Disclosure Statement. If the borrower chooses the View Electronic Signature Disclosure Statement button the Terms and Conditions page appears. Page 30
The MPN Terms and Conditions This page contains specific information about borrower s rights under the E-sign act and the consequences of e-signing a document. It also states what hardware and software are recommended before proceeding with e-sign. Click the Proceed to Master Prom Note Button Page 31
On this page, the student can again: The MPN Terms and Conditions Choose to sign electronically, View the Truth-in-Lending disclosure, Return to the previous page, Cancel the MPN session, or Choose to Sign by Mail. Page 32
The document can be opened to full size by clicking the maximize icon located in the upper right-hand corner of this screen. The document can be closed by clicking the X. When the document is closed, the borrower will return to the screen from which he or she first opened the document. Page 33
The student can indicate a different address than the one displayed by un-checking Mail to above address box. The address lines will be enabled for the student to enter the address. Page 34
The MPN Sign by Mail Using the Sign by Mail feature, the student can request a copy of the MPN and Truth-in- Lending be mailed to them at their address. They can also specify a different mailing address if the address on the Award file is not the best address to receive the documents. The Return to Home button will take the student to the Home Page. The MPN column of the home page will still indicate Requires Completion. If the student logs back in and selects the MPN link (from the home page) and chooses to view the MPN again, the following message will display on the View PDF page. You have previously selected to receive a copy of this document in the mail. You may still electronically sign or decline this document. The student can choose to electronically sign the document by clicking the Sign Electronically button or decline the document. Page 35
If the borrower chooses the Sign Electronically option, this page will be displayed. Sign Electronically If the student clicks the I Decline the Award button, they will be returned to the Home page and the MPN status will remain Requires Completion. If the student clicks the I Accept the Award As Shown button, they will progress to STAN Authentication process. Page 36
STAN Authentication STAN, the Student Authentication Network, is a Web site operated by NCS Pearson that is used to authenticate an individual using their FSA-Pin number that was assigned to the student when they applied for federal financial aid. If the student clicks the Submit button, they will be directed to the STAN Web site. Page 37
STAN Student Authentication Network On this page, the student enters his or her SSN, first two characters of his or last name, date of birth, and his or her PIN numbers. Reset will clear the page so that the information can be re-entered. Clicking the Submit button will display a security warning. Page 38
The following Web page is returned when the student s identity is successfully validated. The student now has the option to apply the electronic signature to the MPN by clicking the Confirm Signature button. The Back button will return the student to the beginning of Section 4 where they accept or decline the award. If the student clicks the Confirm Signature button, the electronic signature is applied and the status of the MPN on the Home page changes to SIGNED. Successful STAN Authentication Page 39
Signed MPN Display Once the MPN is electronically signed, the MPN status becomes a link that will allow the user to view and print the e-signed MPN. Once the MPN is electronically signed, the MPN status becomes a link that will allow the user to view and print the e-signed MPN. Page 40
E-Signature Authentication Borrower SANDERS, SALLY SUE Date 2004-08-10.23.12.000000 STAN Authentication Code 5566000022MA`97123456789 The signed MPN will open in a separate window and will reflect the E- Signature Authentication in the lower left-hand corner of the document as displayed above. Sign Electronically-Decline the Award If the student declines the award from the Master Promissory Note-Sign Electronically page, the home page will be displayed with the MPN showing a Declined status. At this point, the student can no longer view the MPN or TIL/TLID. Page 41
View Truth-in-Lending Disclosure If the borrower chooses the View Truth-In-Lending Statement button from either MPN Section 1 or 2, the statement will be presented in another screen (pdf ). Page 42
The Truth-In-Lending Disclosure is a statement that represents the amount of the current award for first time borrowers and will only be displayed in the MPN link on the Home Page. Data included on this statement is as follows: School Name * Award Year* Student/Maker * Student Address* Student Email Address* Creditor/Lender*SSN* Student ID Estimated Separation Date* Campus Address Annual Percentage Rate* Cumulative Amount Financed* Current Loan Balance* *Pre-filled from the Award File Also included within this statement is information regarding the terms and obligations of a student loan and the possible consequences of default. **Prior to signing the MPN, the borrower should print a copy of the Truth-In-Lending Statement and keep a copy for his records. Once the MPN is signed the borrower will be unable to view this statement. Page 43
About the Total Loan Indebtedness Disclosure The Total Loan Indebtedness Disclosure is a statement that represents the amount of the current award, as well as previous awards for the same school. This disclosure will be displayed in either the MPN link or the TLID link on the home page, depending on if the Master Promissory Note for the borrower is signed and if the borrower has previous awards that are loans on System III at the time the current award is received. MPN information is contained within the award file submitted by the school. This document s title will be Truth In Lending /Total Loan Indebtedness Disclosure and will be formatted and viewed the same way. Data included on this statement is the same as on the Truth In Lending Disclosure as well as the: Previous Loan Amount Previous Loan Balance The previous loan information is populated by loan information obtained from System III. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Summary ipromise is a perfect solution to help you manage the complete student loan process. It s more convenient for your borrowers and will help alleviate some of the time consuming details associated with the award of Federal Perkins loans. Coupled with E-Exit, our Web exit counseling product, ipromise helps cover the full spectrum of loan administration. Page 44