Guarantor Process Flow Chart

In a guarantor flow, the school submits CommonLine application send files to the guarantor via web loan delivery products like MODEL Direct or using data service providers such as ELM. Schools may also send paper school certification forms to the lender for data entry to guarantors who offer that service to its clients. In a guarantor flow scenario, the promissory note is usually printed by the guarantor. In cases where the lender is printing the note or for an e-sign note, the school submits their records as "guarantee-only" to prevent duplicate promissory note printing. Upon approval, the guarantor will then return an application response file to the school and an application response file to the lender. For the school, the file is returned via the method it was sent (school-based software, FTP, or POP3 email). For the lender, it is sent using the method for data exchange set up between the lender and the guarantor. Schools that send paper certifications to the guarantor for processing usually do not require a response file.