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Centralized Disbursement System

As part of the iLink file-routing system, CDS transfers money between school and lender/servicer participants.

The system:

  • 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.

iLink Flow with CDS Disbursements

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