National Education Servicing, LLC (“NES”) is pleased to announce the expansion of its loan servicing relationship with Education Loan Source, Inc. (“ELS”), a wholly-owned subsidiary of National Lending Associates, Inc.
NES began servicing loans for ELS in 2012, and earlier this month completed a conversion of virtually all ELS managed student loans from its previous servicer. NES and ELS look to advance this relationship by providing education financing for students at more schools and increasing volume with existing clients.
“We are excited to expand our relationship with ELS,” said Matt Scotty, President of NES. He added, “Since we began working with ELS and some of its client schools last year, all parties have grown comfortable with the relationship. The time was right to expand this relationship.”
ELS selected NES as its primary servicer for its Tuition Flex products after an extensive vetting process. “In the end it boiled down to people, process, and technology” said John T. Weir, ELS’s Chief Operating Officer. “We felt confident that the NES team would make all the difference in providing a high level of customer service.” Weir continued, “NES’s sole focus is education finance, which gave us the additional comfort we needed to expand our Tuition Flex business with them. Student loan origination and servicing have unique requirements and demand flexibility. Our need to ensure compliance with evolving regulations solidified our decision to select NES as the right servicing partner for us.”