Schools

Does prioritySBS allow the school to work with any lender or guarantor?

Yes. With prioritySBS, the application and change data from your schools will automatically be routed to the appropriate destination. You can determine the lenders and guarantors you communicate with by setting up profiles for them with our administration tools.

Will schools be able to see each other’s data?

No. Schools are restricted so that they can only view, add, or change information pertinent to their own school ID. If a particular financial aid office supports multiple school ID’s, then priority SBS will be configured to allow access to the data for all of their school ID’s.

How many individual user ID’s will be available for each school?

Once a school is set up in the prioritySBS service, as many user ID’s as are needed can be set up for that school. There is no limit.

What control can I give the school to manage their own use of prioritySBS?

In prioritySBS, schools have a great deal of flexibility to set up their own loan management environment. This includes, but is not limited to:

• Creating and managing users at their school. A school administrator can create a new user ID, and give them only the level of access appropriate for that user. They can also easily disable a particular school user account.
• Setting up lender lists. A school can use the master lender list that the guarantor sets up for them, or they can add lenders to a list of their own.
• Application templates. Schools can create customized template overlays for pre-filling loan application fields.

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Loan Management Operations

What types of loans does prioritySBS handle?

FFELP Stafford subsidized, unsubsidized, and PLUS loans. prioritySBS can also be customized to handle your particular alternative loans.

Are there features that allow the school to save entry time and key strokes?

Yes. An individual loan application can be pre-populated in any of three ways, including:

• Pre-filling demographic information from the ISIR data
• Pre-filling loan preferences from previously certified loans
• Applying application templates-a powerful and easy way for schools to setup pre-fills for any of the loan data field.

Is the loan data checked or verified before being transmitted to the lender or guarantor?

The loan data in prioritySBS is both verified, and processed through rigorous edits before being transmitted. The verification checks to see if the data in the fields have the right format (i.e., numbers in the zip code field, and a valid state code in the state field).

The edits process runs the data through the standard CommonLine© and/or CRC checks to make sure the application as a whole is valid (i.e., appropriate number and timing of disbursements, grade level loan limits, etc.).

If either a validation or edit check fails, the user is immediately notified, and allowed to correct the information.

What reports are offered withprioritySBS?

prioritySBS includes the following standard reports that can be executed on demand:

• Application Status
• Disbursement Roster
• Disbursements
• Disbursements Summary
• Loan Status

prioritySBS also supports a robust and flexible ad-hoc reporting tool that lets schools build and save their own custom reports from an easy-to-use wizard.

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Loan Providers

How do I get started?

Getting started is easy! PTI has created an implementation approach that begins with a questionnaire and checklist that will help define your needs and preferences. A basic implementation can be ready in a matter of days! Contact PTI to get started.

How secure is my data?

Data security is extremely important at PTI. Before a user logs into prioritySBS, a secure session is established that ensures the protection and integrity of all data being processed. This includes data that is keyed in or exchanged with the system in file format.  All of your data is stored on secure servers at our hardened data facility. Regular backups and transaction journaling allow us to restore data in the unlikely event of data loss.

Will my data be shared with anyone else?

Each of our clients’ data repositories are kept separate and distinct. The data for all your schools will be in one data repository, but the visibility is restricted by the user’s account settings.

PTI puts great emphasis on the trust placed in us to host your data. We will not share your data with anyone, or for any purpose.

How many of our own employees can have login access to the system?

You may have as many employee user accounts as you would like. You will be given access to create and set up your own user accounts.

Can I allow my lenders or other loan channel partners to access the data?

Yes. You may create accounts for lenders or other loan channel partners to access the system. They will be restricted to see only loan data that pertains to them.

Can I brand this system to our own corporate look-and-feel?

Yes. Part of the implementation package for prioritySBS is a branding of the system to match your corporate look-and-feel.

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Technology

Can I back up my data to my own system?

You will have complete access to the data through the prioritySBS web site. You may run reports on the data, and get copies of all send and response files. If you would like a direct interface to the database for backup purposes, that can be done through a customized link.

Can prioritySBS integrate with my existing system?

prioritySBS has the ability to interface with many different types of legacy systems, including mainframe, client-server, and web-based systems. The standard interface from prioritySBS to any other system is through the exchange of files.
The standard implementation package does not include the creation of a direct system link, but this can be accomplished with customizations.

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Implementation

How fast can I get started?

Your prioritySBS can be implemented in a matter of days with a basic setup.

What support staff will I need for this service?

prioritySBS is intended to empower you with your customers, and we expect that your clients will call you first with questions. PTI will have business and technical support staff available to assist you during regular business hours.

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Cost

How much does it cost?

There is a one-time setup fee of $10,000. Then, you can add any number of schools for a cost of $500 a month per school. The price per school will decrease as more schools are added. For further details contact Priority Technologies.

Will I have to add staff to support this tool?

prioritySBS offers you the ability to streamline the loan application process. You will be able to handle more volume with your current staff, as well as offer better service to your customers. prioritySBS is very user friendly, and your staff can be easily trained to use it.

Is there a minimum number of schools I need to get started?

You can use prioritySBS with only one school.

How will this tool save me money?

prioritySBS allows you to process more applications with less errors than other school based software proivders. You will be able to efficiently resolve exceptions, track results, and provide feedback to customers.

How much training will be required to get started?

There will be some intial setup time needed, but PTI will guide and monitor you through the process. We want to ensure that you and your clients are comfortable with our product.

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Support

What happens when I have a problem?

Your problem is our problem, and we will do what it takes to solve it. You can contact prioritySBS support via the following channels:

Phone:402-445-4741
email: pSBSsupport@prioritytech.com

Will there be scheduled downtime?

Yes. This will typically occur during off-hours and with enough advance notice to be able to work around any conflicts you may have.

When is support available?

You can contact us by voice or email during regular business hours.  If you leave a voice mail or send an email during off-hours, you can expect a reply during the next business day.

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