About the Client
Founded in 1993, the client offers students, employees, and their families the ability to manage and monitor their federal and private student loans, providing all the information needed to effectively handle their higher education finances. The client’s suite of software products includes school search, government and private student loan management, as well as tax management for employees who have student loans to repay.
The Client wanted to develop a new web based solution to manage student/employee loan payments, i.e. to help them repay the loan amount through direct payroll deductions. They also helped to provide repayment assistance to the employees by contributing additional funds towards employee’s loan repayments.
Silicus developed a Web Portal using ASP.NET MVC Framework to enable the loan repayment process for employees on a student loan who have just joined the workforce. This portal could also be accessed by the employers.
The new web portal would be fed data and reports from an existing application - Employee Base Data for processing payroll, and payroll specific data fetched from a 3rd Party Payroll System. The data was first validated in the new application based on business rules, and further processed for Payroll.
The employee’s loan details are sent to Automated Clearing House (ACH) through the portal via file transfer. Email Notifications were sent to the Clients support team indicating payroll status for a specific employee.
NatPay Payroll Services was used for third-party processing of Direct Deposit for employee payroll.
The main modules of the portal included:
Employers can review the date of transactions, the deductions to be made from the employee payroll towards loan repayment, the employer match, pay periods, process a new payroll run, view the recent roster (which contains the employee’s details) downloads etc.
View new employee enrollments with their Name, Employee ID, Total deductions, Total Match, Status details.
Review / check the history of the transactions taken place
C#, ASP.NET MVC, Jquery
3rd Party Integration
NatPay Payroll Service
Automated Loan Distribution
The web portal automated the loan distribution process by helping employers easily decide how much of the loan burden needs to be paid for each employee.