Private loan processing platform enables financial aid offices to certify individual private loans exceeding $99,999, meeting demand driven by changes to federal graduate lending programs

LINCOLN, Neb., May 18, 2026 /PRNewswire/ -- ScholarNet, the private student loan certification and disbursement platform serving hundreds of higher education institutions nationwide, today announced the availability of six-digit private student loan certification, enabling financial aid offices to process individual private loans exceeding $99,999 within a standardized, industry-supported framework. The launch comes ahead of the industry's July 1, 2026, target date, providing schools with critical lead time as federal graduate lending programs undergo significant changes.

CommonLine 4 has been the industry-standard file format for private loan data exchange since the early 2000s, but its $99,999 certification ceiling has become an increasingly burdensome constraint as the cost of graduate and professional education has risen. As Graduate PLUS loan availability phases down, demand for larger private loans in medical, law, dental, and other advanced-degree programs is expected to increase.

ScholarNet addressed this challenge by collaborating with major industry partners and leveraging an existing capability in CommonLine 4, the @2 supplemental record, to support six-digit loan amounts without disrupting the underlying file format that schools and lenders rely on. After extensive internal and external testing, the solution is now in production.

"Financial aid offices have been navigating a real constraint for years. We took a thoughtful, collaborative approach to building a proper solution, one that works within the existing infrastructure and serves the long-term needs of schools, lenders, and ultimately students. Going live reflects the commitment and expertise of our entire team and our industry partners," said Mike Mutziger, vice president of Sales & Marketing at ScholarNet.

The six-digit certification launch marks Phase 1 of a two-phase initiative. Phase 2, covering six-digit disbursements and change transactions, is in development, with full end-to-end capability expected well before year-end.

The timing is especially important for schools with summer-start graduate programs. Medical schools and other professional programs need six-digit private loan certification in place starting July 1, when changes to federal lending programs take effect and demand for larger private loans increases. ScholarNet's early launch ensures those institutions are ready from day one.

Schools currently using ScholarNet will have access to six-digit certification through their existing platform; no new integration or system changes are required. ScholarNet representatives and the Care Team are available to help schools prepare and coordinate with their lending partners.

About ScholarNet

ScholarNet is a lender-neutral private student loan certification and disbursement platform that connects hundreds of higher education institutions with private student loan providers nationwide. ScholarNet automates and simplifies loan certification, disbursement, and return of funds — reducing errors, saving time, and protecting student data. Backed by a dedicated team of financial aid experts and a responsive Care Team, ScholarNet is part of Nelnet, a diversified education services company. For more information, visit myscholarnet.com.

About Nelnet

Nelnet is a diversified company with primary businesses in consumer lending, loan servicing, payments, and technology — all with a strong focus on the education space. Headquartered in Lincoln, Neb., Nelnet has more than 6,700 associates. Learn more at Nelnet.com.

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SOURCE ScholarNet