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SFCA Basic Training

Basic
by

Matthew Faulk

on 20 February 2015

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Transcript of SFCA Basic Training

Matrix Partners preso!
Harvard Business Review
How to lower the cost of enterprise sales?
S.F.C.A
40%
Student Funding Corp of America
Matthew Faulk
SFCA.pipeline@fullsail.com
matthew.faulk@studentfundingcorp.com
Training for
May
Time for Practice
The Basics
DETAILS??
Types of SFCA Loans
Platinum Dreams
Scholarship
?
Application Process
Supplemental Docs
How to check Loan Status
APP ROSTER
Mandatory Docs
-Income Verification
How
Send
Directly to the Lender
Phone: (407) 679-6966
Lenders Info:
What we need from you
First:
-SFCA is a private student lending company that currently provides business to Full Sail and it's sister schools, L.A. Film and RMCAD
Student Access
T
H
N
A
K
Y
O
U
P
R
E
Z
I
Requirements
Need
Why
What
How
Third Party Institutional Loan
Students and parents that have run out of resources to pay their tuition gaps. (Federal & Private loans)
Who is this Loan For??
Max Loan amount:
Gap must be below
NOT
be used for Living Expenses
Fixed Interest: 9%
11%
Origination Fee: 4%
5%
No Co-signer
With Co-signer
No Co-signer
With Co-signer
Parent Access
Parents/Grandparents/Guardians
Fixed Interest: 7%
Origination Fee: 4%
8 year Repayment
3 Payment Options
Co-signers
STRONGLY
Recommended
TWO
Private loan denials
Parent Plus denial
if dependent
No
DEFAULTED
Loans
Agg Limit issues
C-Codes
Reject codes
Check the ISIR!
Use COD & NSLDS
(SFCA Agreement Form)
-Application
-Self Cert
-Awareness Doc
(Borrowers & Co-signers)
Can be two recent paystubs, bank statement,
-Two most current Tax returns
-Photo ID
Docs
ALL
(407) 551-1091
Fax:
Email: applications@studentfundingcorp.com
If they don't it's against compliance
90 DAYS
Credit check/App only good for
from date docs are received
REMINDER
APPLICATION
Self Certification
Awareness Doc
Fill out gap calc to verify student is applicable
Second:
Complete Checklist
Third:
Will receive missing doc's email
APPROVED
scholarships & PELL
40%
Things to Remember:
-Gap is below
-Check for CPT 's
-Only book
-Make sure it's on correct program
Things to Remember:
-Fill out accordingly
Parent Plus refusals
Students dedication or situations
Agg limit and default issues
Scholarships
-Use comment section for any information I may need including but not limited to:
MASTER TRACKING
Used to check what the lender is still needing from the borrower/co-signer/you
Used to see student's loan status of approval
Don't project PELL
Scholarships
APPROVED
MUST
be below 40%
Gap
Total Scholarships
CPT 's
Right program
the student will be reviewed
to cover the rest in PD
$12,000
-If the gap is over
-Reduced if student receives future funding
?
SFCA Project Manager
NEXT
NEXT
Unless credit change
(30 + Days)
Lender
1st AY
Cost of Attendance
NOTES
APPLICATION
Self Certification
Awareness Doc
Lauren Smith, Matthew Faulk, Holly Perreault
Student Funding Corporation of America
STUDENTS
$12,000
Check this on the App Roster
*
*
When sending via email switch to zip or compressed files. Break up large emails
INK SIGNATURES
INK SIGNATURES
INK SIGNATURES
Max 10 mb
box on Gap Calc
Refer to reminder
Incoming CAMPUS ONLY
Active Online/Campus & Incoming Online
60%
Only used while ENROLLED
*If resolved state in comments on checklist
(407) 677-2171
(Primary)
(Backup)
or
60%
No Military ID's
STEPS
Await Approval or Denial
Complete Gap Calc/Checklist to determine eligibility
Contact student to inquire if they are interested
If so, have them fill out necessary docs and send them all to the lender via fax or email
Send the pipeline the gap calc and checklist
You will receive an email from Matt on what is missing
Contact students on what missing documents need to be sent to the lender according to Matt's email or the app roster
Continuously check the App Roster to see what is missing
Once everything is received Matt will add the student to the Master for review
EMAIL: APPLICATIONS@STUDENTFUNDINGCORP.COM
If approved, inform the student they will be receiving an MPN via email to print,sign physically, and mail back before or around their AY start.
FAX: (407) 551-1091
ONE
private loan with a
Can be
or Benefits Award Letter
*Loan can only be put towards tuition and PTRs. Rarely it can be used towards replacement laptops. Before informing student of this option, email SFCA team the situation and they will let you know if this could be possible.
A. Immediate Repayment 2 months after graduation

B. Interest only payments while in school proceeded by principal & interest payments 2 months after they graduate

C. Fully deferred until 2 months after graduating
Full transcript