For Universities

What is CreditOnline University?

One of the main loan providers that is often overlooked are Universities. Universities are some of the largest loan providers in the world with most modern day students taking the option of financing their studies through some loan provider, finance institution or university loans, grants and scholarships. Seeing that every year university applicant numbers are growing, it puts more pressure on universities to manage their credits, instalments and repayment schedules, let alone interest rates and repayment dates. As these numbers grow, universities are forced to expand their financial departments and spend more to adapt to these ever increasing numbers.

Why CreditOnline University?
We are offering a service where you acquire an already existing and running loan management business which you can simply take over.

We will take care of the legalities and the set up of your business using our experts in the field who have each had at least 10 years of experience in the lending business field.
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Seamless integration

Our software integrates seamlessly into any system or work / technological environment providing an all-round solution to manage any type of loan including student loans. Furthermore, we have hundreds of possible modules to chose from that have already been integrated to CreditOnline in the past or are available for integration.

Improve efficiency

CreditOnline can replace an entire finance department with a single trained super administrator who can approve, decline, manage and/ or change anything from interest rates, to repayment dates, contractual obligations and many more allowing the possibility to dedicate valuable resources in other areas that are lacking in resources.

Fully customizeable

Our software can be customised to adapt to variable repayment dates and repayment rates. Legal obligations, dates, rates and interests, and more are fully customisable by the administrator to group large amounts of people into categories that speed up the process of granting loans and receiving repayments. The grouping and loan granting process can be anything from fully automatic to semi- manual.

Why CreditOnline University?

We offer a solution to universities looking to save resources and manage student loans in a more effective and time-saving manner. This means that instead of needing a finance department, a university is able to rely on our software to complete the work for them. This decreases the chances of man-made errors, lost documents and contracts, countless hours spent categorising students and sending updates and following up and chasing repayments.

CreditOnline University can automate the loan issuing process to, for example, be a portal on the university website that students can submit documents to, enter personal information and apply for loans. The loan applicants can be automatically cross-referenced against extensive databases for their suitability for the loan they are applying for and approved manually, semi-automatically or fully automatically if certain client pre-defined criteria is met.

How does CreditOnline University Work?

A possibility for CreditOnline University is a dedicated page in the university application cycle. Similar to a Loan Origination Process, the applicant would fill in their details and verify their identity (their identity could already be verified through a previous step of the university application). Once the applicant is verified, they could fill in something as simple as an online form or use a slider to determine their financial situation for their data to be processed by our software and either a decision taken automatically as to whether they meet the criteria for the loan in minutes or sent to a directory for the approval of an administrator manually. If the loan is approved the student would be sent all relevant contractual documentation to their email address that they used to sign up.

The software also allows for client “zones” where the student is able to view the amount that they are indebted and or make payments towards that amount.

The above is a very rough and simple process that may be suitable for some universities. This by no means is an exhaustive list of the systems capabilities. With countless integrations with banks, payment modules, contractual modules and many more, the software is ready to integrate and adapt to any university’s needs.

Frequently Asked Creditonline University Questions

Who is the ideal customer for CreditOnline University?

The ideal CreditOnline University client is a university looking to speed up their application process and automate the student loan decision making process.

What is CreditOnline University Capable of?

CreditOnline University is capable of literally what the client may imagine and / or need integrating. Some integrations are easier than others and most integrations are already existing in our existing client’s systems making their installations effortless and time-efficient. Please contact one of our tech-wizards or schedule a free demo to enquire further about our integrations.

How is CreditOnline University different?

CreditOnline University is one of the first publicly available fully automized and fully customisable software able to integrate into any working environment.