Centralized Disbursement System
As part of the iLink file-routing system, CDS transfers money between school and lender/servicer participants.
- Consolidates multiple lender disbursements for schools.
- Disburses funds for lenders at no additional charge.
- Improves school and lender account reconciliation by providing one deposit and one debit for multiple participants.
To benefit users, CDS also:
- Simplifies bank reconciliation by providing one deposit or auto-debit services to participants.
- Expedites delivery and return of loan proceeds.
- Offers schools a choice to receive disbursements on certain days of the week.
- Allows different bank accounts for disbursements and return of funds.
- Provides schools with funds the same day as the CommonLine Disbursement Roster.
- Provides lenders with funds the same day as the CommonLine Change Send File.