Student Choice Connect allows Direct Connect but shows loan paid off
I'm using Quicken Classic Deluxe for Windows, I have a studentchoiceconnect.com account and Quicken will Direct Connect to it without errors. But it doesn't download any information and when I click on details it says "Loan is paid off". I have 2 loans with this organization, one is paid off but the other isn't. I've contacted Student Choice but they act like they have never heard of Quicken. Any suggestions? TIA!
Best Answer
-
This looks to be the organization you're connected to:
55458 55458 55458 University Accounting Service https://www.uaservice.com 1-800-999-6227 https://www.uasconnect.com/auth/login ACTIVE BANKING,CREDIT,ACCOUNTINFO&EXP-WEB-CONNECT NOT_QBP NA
They don't use Direct Connect as the downloading service. Maybe they used to but don't anymore?
Downloading loan information using EWC has always been somewhat fraught, it seems to me.
First, all you're actually downloading appears to be nothing more than the loan balance itself, not a comprehensive accounting of any actual loan payments you're making, i.e., interest payment, principal payment, fees paid, etc.
And the whole "EWC" downloading process itself strikes me as somewhat Loosey-goosey (technical term😁) in that the institution is supposed to alert the "aggregator" (Intuit) if they make any changes to their data base that might affect what gets downloaded and not infrequently don't do that, making the downloaded information incorrect. There's plenty of posts in here that I've seen where people have said that the download tells them the loan is paid off, when it isn't.
So the better approach to monitoring loans, in my opinion, is to make sure that loan payments out of the checking Account are accurate, make the loan Account a "manual" Account, and periodically check with the loan servicer via "statements" or logging into your account with the servicer that the balance you have in Quicken agrees with the servicer.
I'd guess that if you do have (or had) multiple student loans that you'd probably need multiple Quicken Accounts to handle them with each Quicken Account set up for downloading via EWC, if you want to continue to download loan balances.
0
Answers
-
This looks to be the organization you're connected to:
55458 55458 55458 University Accounting Service https://www.uaservice.com 1-800-999-6227 https://www.uasconnect.com/auth/login ACTIVE BANKING,CREDIT,ACCOUNTINFO&EXP-WEB-CONNECT NOT_QBP NA
They don't use Direct Connect as the downloading service. Maybe they used to but don't anymore?
Downloading loan information using EWC has always been somewhat fraught, it seems to me.
First, all you're actually downloading appears to be nothing more than the loan balance itself, not a comprehensive accounting of any actual loan payments you're making, i.e., interest payment, principal payment, fees paid, etc.
And the whole "EWC" downloading process itself strikes me as somewhat Loosey-goosey (technical term😁) in that the institution is supposed to alert the "aggregator" (Intuit) if they make any changes to their data base that might affect what gets downloaded and not infrequently don't do that, making the downloaded information incorrect. There's plenty of posts in here that I've seen where people have said that the download tells them the loan is paid off, when it isn't.
So the better approach to monitoring loans, in my opinion, is to make sure that loan payments out of the checking Account are accurate, make the loan Account a "manual" Account, and periodically check with the loan servicer via "statements" or logging into your account with the servicer that the balance you have in Quicken agrees with the servicer.
I'd guess that if you do have (or had) multiple student loans that you'd probably need multiple Quicken Accounts to handle them with each Quicken Account set up for downloading via EWC, if you want to continue to download loan balances.
0 -
Thanks for the info Tom. I like your idea of the manual account with periodic balancing to keep track of this. Not the Direct Connect solution I was hoping for but probably the best option I have available to me. Thanks for the assist!
0
Categories
- All Categories
- 49 Product Ideas
- 35 Announcements
- 225 Alerts, Online Banking & Known Product Issues
- 18 Product Alerts
- 505 Welcome to the Community!
- 673 Before you Buy
- 1.4K Product Ideas
- 54.9K Quicken Classic for Windows
- 16.6K Quicken Classic for Mac
- 1K Quicken Mobile
- 824 Quicken on the Web
- 120 Quicken LifeHub