Student Loan Servicing Software
LA Pro’s student loan servicing software enables various sized education lenders to track student loans during interest-only or deferred interest periods, later converting the loans to permanent financing terms without creating a new loan. Student lenders can track additional information such as demographic data, resident status, degree, education level, and stop/start dates. Users can add custom fields to track interest start and stop dates as well as view documents tied to a loan.
Lenders who offer student loans find LA Pro’s loan accounting software to be an effective way to keep current with the demands of this unique loan type. Our robust loan accounting software handles a range of servicing options and can be configured to meet your needs. With our uncomplicated approach, users can easily increase or decrease product offerings within the system. LA Pro’s loan accounting system seamlessly interfaces with loan origination, documentation systems, core finance, and accounting solutions.
Student Lending Loan Management Features:
- Interest deferral during school and after graduation
- Flexible late fee grace periods following graduation
- Create reminders that appear when you start LA Pro
- Collection of credit bureau reporting data
- Ability to create custom fields to track additional student loan information
- Extensive help system with powerful help index search capabilities
- Flexible menu-driven format
- Audit trail for system security and access levels
Reports Specific to Student Loan Accounting Needs
LA Pro’s loan servicing system has the reports you need for servicing student loans. More than 100 standard reports are available in a variety of formats and you can create ad-hoc reports. You can also create and custom data extracts; for example, you can collect data for reporting to credit bureaus. Our dedicated support team is available to assist you with custom reporting or any other questions you may have regarding servicing your student loans.
Flexible, Powerful Student Loan Solution
Everything you need to service student loans is included and there are no additional modules to purchase. If you are ready to improve your student loan servicing with proven software, we are ready to assist. Learn about our industry-leading standard servicing features or watch our online tour of our loan servicing software today.