Student Loans Payment Servicing

Eliminate the frustration of payment collections for your student loan consolidation clients with our nationwide student loan consolidation payment servicing from Payment Automation Network. Our comprehensive service manages all aspects of collecting and disbursing funds for your student loan clients.

We know it is a difficult industry to find a payment processor willing to handle Student Loan Consolidation accounts. At Payment Automation Network, Inc., we specialize in payment processing for our industry. Eliminate the frustration of payment collections and disbursements for your student loan consolidation clients. Our comprehensive servicing manages all aspects of collecting payments and disbursing funds to Student Loan Consolidation Companies.

We collect funds by electronic debit on the payment due dates and we disburse funds to you—Daily.

What you receive with our services:

  • We collect payments directly from your clients bank accounts.
  • We verify payment and bank account information before processing the payment at the bank, saving you thousands on return payment charges.
  • We email your clients payment reminders.
  • We provide you with comprehensive/professional reporting, emailed to you daily.
  • We keep an accurate record of every payment and disbursement made.
  • We offer toll-free customer service to your clients.
  • We do payment adjustments on request, no additional charge including rescheduling payments, updating account information, changing payment dates and amounts, escrow payout adjustments, suspending or closing an account and more.
  • We provide access to your account 24/7 though our secure web portal.
  • We disburse you your funds, daily, directly in your bank account.
  • You receive your funds!

At Payment Automation Network, WE do all the work, YOU receive your funds

Complete Accounting Services

  • Comprehensive collection reports sent with daily disbursements
  • 24/7 access to Payment History reports, Delinquent Payment reports and Projected Cash Flow Reports and more though our secure web portal
  • Payments can be held in escrow until the consolidation is completed so you are compliant with the FTC, CFPB and the Dept of Education
  • Automatic payments directly out of your clients bank accounts
  • Accurate records maintained for every payment and disbursement for every client

Complete Owner/Portfolio Services

  • Portfolio level accounting
  • Reporting for multiple ownership percentages
  • Disbursements by percentage of portfolio ownership
  • Comprehensive monthly and year-end reporting
  • Year-end 1099 reporting
  • 24/7 online access to your portfolio information

Toll-free Customer Support.

Friendly client services representatives are available 9 am – 4 pm Monday thru Friday PST to respond to changes in loan payments or help resolve payment difficulties.

We offer the most comprehensive student loan consolidation company payment servicing in the industry.

How Much Does It Cost?

Our pricing depends on the number of loans and the volume of payments to be processed. A small service fee per transaction is typical. The good news is there are no minimums or maximums to worry about.