Frequently Asked Questions
Q: Why is the Borrower Self Cert code not populated for all borrowers?
A: Reports display information that the lender provides. If the lender does not provide the Borrower Self Cert code, the value will be blank.
Q: I received funds from the lender; why is a disbursement listed as canceled in iLinkSBS?
A: When a change is processed in iLinkSBS, the change automatically updates the view of the loan and sends a CommonLine Change Send file to the lender for processing. If the lender does not process the request before disbursement, you may receive and need to return the funds.
Q: Why is a borrower listed on a Disbursement Roster report when I receive funds via paper check?
A: When disbursements are sent via paper check, some lenders send an electronic Disbursement Roster for notification of the disbursement. On the Disbursement Roster report, "Check Number" will be displayed if the disbursement is made via paper check. If you don't want to receive electronic files/reports for paper check disbursements, contact the iLink Service Center. iLink will then remove those files from your reports.
Q: What do the different Loan Phase Codes mean?
A: All codes are found in the Appendix section of the User Manual. To access the User Manual, log in to iLinkSBS and select the link in at the bottom of the screen.
School Certification and Increases
Q: Why are private student loans sent for certification at different stages in the process?
A: Due to disclosure requirement changes in the Truth in Lending Act on Feb. 14, 2010, lenders have options for implementing new rules. Some lenders send guarantee files once underwriting is complete, while other lenders send guarantee files after all disclosure requirements are complete.
Q: I currently receive paper certifications from a lender. Can I receive those electronically through iLink?
A: iLink can contact the lender to determine if they will complete the setup and testing process to route their loans through iLink. Call (800) 833-4876 or submit a request on the Contact Us page.
Q: Why are some private student loan increases denied?
A: Due to Feb. 14, 2010, Truth in Lending Act changes, lenders have the option to either accept a loan amount increase request and send a new disclosure to the borrower or deny the increase and request that borrowers complete a new application for the loan amount difference.
Q: Why do I get so many email notifications each day?
A: If you have signed up for e-mail notifications, you will receive a notification each time a file is sent to your institution and/or is loaded into the Web-based systems. Email notices can be managed by:
- Bundling files to receive an email once each day. You may also select different bundle options for disbursement rosters and response files.
- Turning off email notifications.
Q: Can I receive email notices for disbursement rosters but not response files?
A: Yes. You may choose to receive different types of email notices to fit your processing needs.