development and marketing of a new student loan origination system that would incorporate the latest technologies and architectural concepts. Today, that system, called AppWorks™, is installed at ACS Corporation and Bank of America. The system is also being used in an ASP configuration by Key Educational Resources and Access to Loans for Learning Management Corporation (ALLMC). AppWorks meets all of the business needs for processing FFELP and alternative (privately guaranteed and funded) student loans. The two primary business objectives of the system are:

To provide superior operating efficiencies; and
To offer its processing users a strategic marketing advantage by
incorporating unique and flexible functionality desired by schools.

AppWorks™ meets the following high level requirements:

It provides comprehensive operational controls and processing
efficiencies in an internal user environment that is easy-to-learn and
easy-to-use;
It leverages modern data base, electronic data interchange and user
interface design to offer maximum flexibility in meeting the changing
needs of the FFEL and private education loan programs and the
diverse demands of its participants;
It offers external users (e.g. schools) core processing functionality
and additional value-added capabilities as determined by market
requirements and individual desires.
It expands upon today's self-service Web model while taking into
consideration workflow processes and security issues.

The AppWorks™ FFELP processing component is available on a license basis or in a remote ASP configuration.