EDI 191 Student Loan Pre-Claims and Claims

What is an EDI 191 Student Loan Pre-Claims and Claims Document?

EDI 191 is an electronic document which contains information necessary for the due diligence process of loans. In case of default reimbursements, it is mandatory for loan owners to request pre-claims assistance in accordance with their due diligence process. It is required by federal regulations. Along with this, loan owners are also obligated to file some specific information for submitting payment requests for claims.

The information exchanged using this EDI document includes, but is not limited to, the following:

Loan detail

• Due diligence history
• Borrower identification
• Payment history

The data elements as well as the format of EDI 191 Student Loan Pre-Claims and Claims are used for the electronic interchange of information. It is divided into various segments and data elements.

Workflow for the Exchange of an EDI 191 Student Loan Pre-Claims and Claims Document

EDI 191 falls under the category of X12F Finance transaction sets. This EDI document is used by student loan servicers, lending institutions, and other secondary markets to facilitate the exchange of information with guarantee agencies to assist pre-claims regarding student loans that are nearing a default status. It also facilitates the request for claim payments for student loans that are defaulted.

Stay EDI Compliant with EDIConnect

EDIConnect is an enterprise-grade EDI solution that simplifies the process of sending and receiving EDI messages. It is designed to handle XX12 and EDIFACT transaction sets through its built-in EDI parser, validator, and transaction builder. It also offers features to help businesses comply with EDI requirements and communicate seamlessly with their trading partners.