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Electronic Transfer of Financial Aid Funds and Loan Applications (Using the Commonline Network)
Wednesday, January 1, 1997
East Carolina University has designed, developed, and implemented new applications for the electronic transfer of student financial aid funds and loan applications. This paper describes the CommonLine Network and LineSS sotware, which enable the Financial Aid office to submit electronic loan applications to lenders for processing. The lenders send the University electronic status files which ECU uses to update the student database and LineSS files. Rosters are processed and funds are automatically credited to each student's account receivable. All charges to the University are paid electronically and an excess aid check is printed for each student whose financial aid exceeds their charges.