Sallie Mae – Automating Your Payment Processing

Sallie Mae’s Electronic Payment Gateway (EPG) allows individual departments or colleges on campus to electronically collect one-time payments, such as for tuition, application or event registration, parking, and more. Each gateway is integrated with your school’s website, and can be customized to adopt the look and feel of your brand.

By providing standard personal and financial information, the payer can select to pay by Automated Clearing House (ACH) debit, credit, or debit card. The EPG transmits the card settlement information to the designated merchant processor for clearing and deposit to your school’s bank. The EPG will also transmit an ACH file to a designated financial institution for clearing and settlement.

Benefits of Sallie Mae Electronic Payment Gateway

• Flexible Payment Options: Your school can choose which payment options to offer to your customers, as well as whether you will charge convenience fees
• Single Sign-On: EPG allows for real-time transfer of demographic data, dollar amount, payment event, and payment options. This eliminates the need to re-verify the student and enter transaction data on the payment pages
• Convenience Fee Revenue: Within the confines of your specific state law, you can reduce or eliminate processing costs by charging a convenience fee
• Real-Time Verification: The system provides real-time credit card verification such as card number, sufficient credit on the account, and the address. For ACH transactions, the system verifies the routing transit number and can be configured to query a negative database to restrict payers who have written bad checks to the school
• Real-Time Data Transfer: The EPG can be configured to post transaction data to the administrative systems in real time at the completion of a transaction
• Remittance Filing: You receive a remittance file providing details on each transaction by department. Therefore, if a unique identifier (e.g., general ledger account number) is needed to track each transaction, we are able to provide this level of detail in a remittance file
• Transaction Tracking: Your staff is able to verify whether or not a student initiated a transaction in real time
• Customized Reporting: Each department using the EPG can obtain its own customized reports
• Archiving: Payment and transaction history is available online for 24 months. The system archives transaction data for seven years

Sallie Mae – Giving Payment Choices to Your Students, Parents, and Alumni

Sallie Mae’s Interactive Voice Response (IVR) service allows for an automated agent to provide account information and accept payments based on prompts given to the caller. Using our secure web-based reporting tool, administrators have the ability to access real-time reports of transactions by student account, payment, or confirmation number

Benefits of Sallie Mae Interactive Voice Response

• Toll-Free Number: We can set up multiple toll-free numbers per campus
• Constant Availability: Assistance is available 24 hours a day, seven days a week
• Script Customization: Our telephone script can be customized for your institution
• Verified Credit Card Payments: Instant verification of the credit card is available every time a student, parent, or alumnus makes a payment
• Unique Identification: Your institution is assigned a unique merchant ID and origination ID for ACH payments
• Convenience Fees Revenue: Within the confines of your specific state law, you can reduce or eliminate processing costs by charging a convenience fee
• Payment Confirmation: Email confirmations can be sent to students paying by phone
• Customized Reporting: IVR service includes our web-based reporting tool
• Daily Remittance File: You receive a daily file of all transactions, providing your institution with details on each transaction initiated through the IVR

Sallie Mae – Offering Shopping Cart Convenience
and Security

Sallie Mae's Shopping Cart system can be seamlessly integrated into your website. Purchasing and paying for school-branded items, events, and bookstore merchandise will be a mouse-click away for your busy customer base.

Benefits of Sallie Mae Shopping Cart

• Increased Cash Flow: Inventory turns over faster
• Integrated Functionality: Cataloging, product fulfillment, maintenance, category management, and shopping basket are fully integrated in one system
• Reduced Waiting Time: Your customers are happier not waiting in lines at campus stores and in front of cashiers
• Unlimited Scalability: System supports categories, sub-categories, and products
• Efficient Inventory Tracking: You can track inventory in real-time. System includes notifications to support fulfillment functions
• Funds Received Quickly: Payments settle directly into your school's bank account
• Availability: The system is available 24 hours a day, seven days a week

Sallie Mae – Presenting Electronic Bills

Sallie Mae's Electronic Bill Presentment lets you electronically post multiple bills for items such as tuition, housing, meal plans, financial aid, such as Perkins loans…even library fines and parking tickets. You'll save the cost of postage and expedite payment, while improving service to your students and their families.

Benefits of Sallie Mae Electronic Bill Presentment

• Multiple Payment Options: You can offer your customers options to pay with credit card, ACH, or check
• Bills Customized by Type: You determine whether bills should be delivered as PDF or HTML, as multiple bills or separate bills combined into one
• Save Paper and Postage: No need to create and mail paper bills
• Speed Up Payment: Provides immediate payment at check-out
• Real-Time Information: Once payments are made and authorized, payers receive receipts at once and you immediately receive data verification and ERP systems data transfer information
• Availability: Assistance is available 24 hours a day, seven days a week