Student Debt Solutions is happy to announce a few new feature enhancements that will provide a better analysis and user experience for both your business and student loan clients.
Our last major release was early May and since then we have been on a journey of continuous development to meet both the needs of you and your clients. Please note: If you have clients who have already gone through the SDS Analysis, you may want to have them to go through their SDS analysis session again to explore the advances in analysis and calculators. One major release was enhanced analysis toward the payment revisions and IDR recount that impact a borrowers forgiveness term for their Income Driven Repayment as well as Public Service Loan Forgiveness. To go through again, they should log in to application and from their dashboard select “make changes” at the top of the page where they will need to select to edit their questionnaire. What is even better is that your business can now make changes for the borrower in your agency portal.
Borrower Portal:
Payment Revision and IDR Recount Calculation: We have expanded the capability of our calculators to parse the NSLDS and understand past repayment history to facilitate the impact of that on the borrower’s future repayment options. We expanded this to now include non-eligible repayment plans to be included in the calculation of Public Service Loan Forgiveness.
Automatic Email of Completed Action Plans for non-expert mode users: When a borrower is finished building their plan, they will now receive an emailed version of their action plan.
Feature and Benefit Statement added to consumer facing paywall to reinforce the tools that the borrower may have available to use if they proceed with payment.
Enhanced Calculator Details: If the borrower is eligible for forgiveness, they can now see components of that forgiveness plan like how much, when on a loan-by-loan detail in a new easy to understand module. Also, the calculators now include the ability to make additional payments to see how that may affect the overall long-term payoff of their loans.
Agency Portal:
API Access for borrower creation and events through webhooks. This will help integrate seamlessly for business who want to operate at an enterprise level. • Reports are now viewable in the agency portal and will give insight to effective product pricing and any promotions that are being used. We also now have a filtered “Order” report that can be used to understand when borrowers are making payments. SDS will continue to develop more reports, and as always contact us if there are additional reports that can help serve your business.
Make Changes: A new feature that will now allow any agency user to in real time change the borrower’s plan or entered data. The agency user can now edit income, filing status, family size, questionnaire or make new plan selections which in real time can be seen by the borrower in their borrower portal.
Automated Invoicing: We now have a robust invoicing module that will help generate invoicing on demand. We are currently developing a “Billing” module for agency portal that will give you access to your monthly invoices, with plans to develop electronic payment and payout services for our business customers.
Bug Fixes:
Change to the database model for Document Preparation services to allow for easier use by borrower and agency partners.
Channel Session Id changes to decrease the ability of a borrower to utilize incorrect links and avoid potential redirect issues.
Streamline navigation of the borrower intake steps when utilizing next and previous buttons