The Future of Student Loan CRMs
Get Ahead and Automate your Student Loan Business
Here at Onsite CRM we have created a Student Loan CRM that not only enables growth through a streamlined process, automation, reporting, etc. our CRM also has full performance model compliance configured into the platform.
Through diligent research we have found that the performance model states that fees cannot be charged to the client prior to services. Funds can be suspended from the client into a savings or escrow account of which are still the client’s monies. Therefore, this suspending of funds secures payment for our customers and thus justifies rendering services. Once services are rendered, the proof of the completed consolidation is visible within the CRM. The escrow account currently holding the customers funds is now triggered by the CRM to release the funds to the student loan consolidation company. The customer is notified that services have been rendered and payment received. The industry now stays profitable, the customer is protected from fraudulent servicing companies, and we capture tremendous market share.
An added value with the Onsite CRM Student Loan Platform is we have financing built into the platform. We are the one and only CRM with built in financing. This presents incredible value to the student loan company using our solution since now rather than charging high fee’s to the customer looking to reduce their student loans of which are already in financial hardship. They now can offer their customer a low monthly payment (2 year term) of which the first payment is not due until after their student loans are consolidated. Therefore, the customer is never out of pocket for more than what they are paying for their student loans for any given month and the student loan company received their payout within 48hrs of the customer signing the agreements. This financing model is also compliant since the customer is never out of pocket before the services are rendered and yet, the student loan company gets paid immediately.
Onsite CRM is NOT an attorney or governing agency. The issues discussed on our blog post are for educational purposes only.
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