Online Education Finance
Collier, Shawn, Independent Banker
Web site's three-step process helps banks play in the student loan game
BrainScratch.com, a simple, referralbased program developed and operated by Student Loan Finance Corp. in cooperation with ICBA, lets community banks add a student loan option to their portfolios without resource or capital investment.
Divided into two distinct areas-a service area for banks and schools, and an information, application and loan tracking area for students-the site equips banks with everything they need to join and promote the student loan program. BrainScratch.com lets your bank review program details, become a member bank and track its referrals all online.
"Brain Scratch gives community banks the tools and support they need to provide their customers education credit instead of losing that customer to a larger lender," says Norg Sanderson, Student Loan Finance president and CEO. "We're handling all of the up-front marketing needs as well as the back office processing. All banks need to do is sign up for BrainScratch, then target the appropriate customers and direct them to the site."
The student-loan site also gives students information and support to complete the application process and secure an education loan, while using interactive technologies to ensure students are entertained as well as informed. This encourages greater site traffic, a fast, enjoyable online experience and a higher success rate.
Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information: Article title: Online Education Finance. Contributors: Collier, Shawn - Author. Magazine title: Independent Banker. Volume: 51. Issue: 2 Publication date: February 2001. Page number: 99. © 2002 Independent Banker. Provided by ProQuest LLC. All Rights Reserved.
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