EnrollmentVerify for Financial Institutions
EnrollmentVerify allows Credila Financial Services to verify current enrollment before disbursing a student loan and provides instant access to enrollment data from a reliable primary source. The service has improved our timeliness and accuracy when helping students.
Credila Financial Services
The EnrollmentVerify service allows you to verify student status but, why should you care? As a bank or financial services organization, your relationship with customers is truly personal. Ideally, you want to engage customers early on enabling you to forge relationships that can remain strong through life’s major milestones – graduation, marriage, kids, new homes, etc. This is the essence of brand loyalty.
Building this type of customer loyalty often begins during the college years, when many students are “underbanked,” meaning they’re in the market for various financial services yet are still learning what it means to be financially responsible and have little to no credit history. By providing special offers or programs unique to college students, you’re providing them with the financial tools they need to be successful at this stage in their lives.
But, how can you be confident that each consumer who applies for a special offer or promotion is actually a current student? In order to successfully protect your student offers from abuse, you need to properly and fully verify students’ enrollment status to make sure you’re effectively reaching your student customers. With the National Student Clearinghouse’s EnrollmentVerify service we help you confirm eligibility, giving you confidence that your student promotional efforts are on target so you can initiate relationships during your customers’ college careers and continue to cultivate them well into their adult working years.
The EnrollmentVerify Solution
EnrollmentVerify represents 95 percent of currently enrolled U.S. students. By making use of the Clearinghouse’s unique relationship with thousands of colleges and universities, customers like you can immediately and accurately confirm student status. EnrollmentVerify eliminates wasted time and costs incurred by contacting schools or applicants directly, consequently preventing unqualified customers from taking advantage of your special offers targeted towards students. That way you can focus on building your customer base with little hassle.
Why .edu Isn’t Enough
A few years ago, it was enough to use .edu email addresses to verify students’ enrollment. No more. Today, nearly half of all students retain their college email addresses long after graduating or leaving school. So relying on just an email may result in your company devoting money and resources to individuals not eligible for your discounts or promotions.
Then there’s the threat of .edu fraud. Online hackers and other criminals have become more brazen about stealing legitimate .edu addresses or creating fake ones. If .edu addresses are all your company requires to prove enrollment, your promotions are vulnerable to abuse.
Get in the Know
The Clearinghouse is the nation’s trusted source for education verification, relied on by thousands of businesses and organizations for one reason: Our data comes directly from the schools themselves.