Education Loan Source (ELS), the nation’s leader in education financing administration and services, is proud to announce the launch of the TuitionFlex PLUS SM financing program at Connecticut School of Broadcasting (CSB) campuses nationwide.
“We are pleased to be able to offer our students a new and viable loan program that meets their needs in the current environment,” said Jim Robinson, President of CSB. “After months of research, we finally met ELS who provided us with the opportunity to customize a ‘one stop’ solution for all of our twelve campuses. Through TuitionFlex PLUSSM , we now strike a perfect balance between offering an affordable and accessible payment plan to students while realizing improved cash flow to the school . We have used other loan programs in the past and have found that the ELS program fulfills our needs.”
Jim continued, “Another high priority for CSB was maintaining compliance with federal and state Truth-in-Lending disclosure requirements. As program administrator, ELS facilitates this as they customized the program to follow our school’s preferred internal process. In addition to delivering a great program, the customer service provided by ELS has been exceptional. I wholeheartedly recommend ELS to any school looking for an affordable financing solution. ”
Payment plans allow a student the option to make payments over a specified term rather than paying cash up front for an academic program. Traditional payment plans require the school to hold the note as a debt on their books, while receiving funds as the student makes payments. The challenge with these plans is balancing the need to keep costs low for student enrollment with the need to infuse operating capital into the school.
With TuitionFlex PLUS , schools establish unique rates and terms and can elect to implement a credit check to mitigate risk. As an additional option, they can sell a portion of their portfolio.
While other companies might provide partial support, ELS offers total support as program administrator from application through servicing. The program offers a branded online application process, electronic signature, customizable reporting, automated payment processing and flexible servicing repayment terms. ELS’ program is of particular assistance to schools concerned with 90/10 compliance.
According to Jennifer Wallace, VP Sales for ELS, “ CSB is a well known entity in the world of broadcast media. Partnering with ELS gives them the opportunity to keep their focus on the very important business of educating students while leaving the financing to ELS. It’s been a pleasure to work alongside CSB to customize a program that meets the needs of their students and staff.”
For more information on the TuitionFlex PLUS program, call ELS at (888) 335-6261.