Managing Guarantors for Private Loans

The Managing Guarantors feature within Private Loans Import allows you to store information about all the guarantors supporting loans your students borrow, saving you time when awarding and processing private loans. A guarantor must be added to this table before it can be assigned to a private loan on a student record.

Tip: Guarantors can be added to this table at any time. For example, each time you receive School Certification Requests, you can review the guarantors and add those you don't yet have saved. If you want to set up those your students use regularly in advance and you use a service provider to help with private loan processing (such as ELM, Sallie Mae, or ScholarNet), reach out to them for a list of the guarantors used most by students at your institution.

To add and manage guarantors within private loans complete the following steps:

  1. Select Import/Export in the top navigation bar to open the Import/Export menu along the left side of the page.
  2. Expand the Private Loans option in the left navigation menu and select Import.
  1. Select Manage in the top right corner of the Import header.

    private loans manage list for guarantors, lenders, programs

  2. Choose Guarantors from the list.
  1. Select the +Add New option at the bottom left corner of the existing Guarantor Information list to add a new guarantor. A new line is displayed below any existing guarantors.

    Manage Guarantors window

  2. Fill in the Name and ID fields and select the Save save icon icon once you've completed filling in the information. Alternatively, if you wish to delete your progress, select the Delete cancel icon icon.
  3. Once you finish saving or deleting your rows, select Close.
  1. To edit an existing guarantor, select the field you want to update in the appropriate row. One the update is complete, select the Save save icon icon. Alternatively, if you wish to cancel your changes, select the Cancel cancel icon icon.
  2. Should you need to delete an existing guarantor, select the Delete cancel icon icon in the row of the guarantor you wish to delete, and then either select the Confirm Delete confirm delete icon icon to continue with the delete or select the Cancel Delete cancel delete icon icon to cancel.
  3. Once you finish editing or deleting your existing guarantor, select Close.