What is an EDI 139 Student Loan Guarantee Result?
An EDI 139 is used by the guarantors of a loan to inform the lending party about the status of a student loan guarantee. This EDI transaction set falls under the X12F category and may include the following information:
- The conditions behind an approval or a denial of a loan guarantee
- Loan disclosure terms
- Notice of guarantee
- Information regarding previously guaranteed loans, if any
Workflow of an EDI 139 Student Loan Guarantee Result
An EDI 139 Student Loan Guarantee Result is issued in response to the loan application filed using an EDI 135 Student Aid Origination Record. Guarantee agencies use it to inform the lender, school or both regarding the status of a student loan guarantee.
Typically, an EDI 139 transaction set represents the second phase of the student loan application process. Important information about loan particulars is interchanged using an EDI 139 document such as the guarantor reviews of a lender-approved student loan application, after which the agency issues a guarantee result. Once the loan guarantee approval has been received, the loan disclosure is generated and the funds are released. In case of a loan guarantee rejection, the application can be corrected and resubmitted.
Stay EDI Compliant with EDIConnect
EDIConnect is designed to handle EDI X12, HL7, and EDIFACT transaction sets. EDIConnect, bundled with its built-in parser, validator, and transaction builder, makes the process of sending and receiving EDI messages quick and easy. It also enables businesses and trade partners to communicate seamlessly and achieve EDI compliance.