ELM Resources, a leading provider of technology products and services to the higher education financial aid industry, announced today that it has officially launched ELMSelect, its highly anticipated new lender selection website that provides schools with a custom page to display their recommended lender lists and their students with the ability to compare and select the loan that best fits their needs. ELMSelect’s intuitive interface allows students to select and view lenders side-by-side for a simple and clear comparison of loan benefits with a few clicks. Additional links enable the borrower to calculate the cost of the loan as well as view additional lenders beyond the school’s lender list, reinforcing ELM’s open and lender neutral reputation. Upon selecting a lender, students have the option of starting the loan application process through ELMSelect. ELMSelect also allows for the disclosure of preferred lender list criteria to help schools increase transparency and meet new federal legislative requirements governing these types of lists.
“We are continually looking for cost effective opportunities to expand our product offerings to meet the needs of the industry through active dialogue with our customers,“ said Jeffrey Connors, CEO and President of ELM Resources. “ELMSelect is a direct result of this process. With the addition of ELMSelect to our product portfolio which includes ELMNet and ELM NDN, we are a one-stop provider to schools for key parts of the student lending process – loan evaluation and selection, lender neutral data exchange and loan disbursement.”
“With ELMSelect, we wanted to offer a quality product that schools, borrowers and lenders can use knowing that it comes from an established, trusted source. In keeping with our reputation for being truly open, we also included a separate neutral list of lenders on ELMSelect to provide additional options for a school’s prospective borrowers,” said Gary Parkhurst, Senior Vice President of Sales, Marketing and Product for ELM Resources. “As with all ELM products, we provide full customer support and training to schools using ELMSelect.”
Additional information regarding ELMSelect is available at www.elmresources.com.
About ELM Resources
ELM Resources began in 1994 and is the only not-for-profit, mutual benefit corporation serving the student loan industry today, including universities, colleges, lenders and guarantors. ELM provides a common, non-proprietary, and open data exchange and disbursement system that seamlessly links the diverse computing platforms of schools, lenders and guarantors while providing real-time loan inquiry to borrowers. Over 2,100 implemented schools use ELM Resources to send and receive loan data from FFELP and alternative loans with the lender or guarantor of their choice. More information about ELM Resources is available at www.elmresources.com.