The initial application process consists of two steps:
- A brief “Eligibility” page to confirm your eligibility in the cuStudentLoans program
- An easy one-page “Application” that takes approximately 5-10 minutes to complete
If you’re credit approved, the remainder of the application process consists of:
- Submitting the required documents for you, and the loan is cosigned, your cosigner
- Proof of Identity – Government issued ID which includes: passport, drivers license, or state issued ID card. (Not required for participating credit union members who pass identity verification)
- Proof of Enrollment – Unofficial transcript from most recent semester (Not required for first-semester freshmen)
- Proof of Income – Two recent pay-stubs from within the past 60 days. (Not required for applicants with cosigners, required or cosigners)
- After your documents have been submitted and you have received lender approval, you will be asked to sign the loan agreement.
- A loan request for certification is sent to the school.
- After the school returned the certification, you must accept the final disclosures.
- Your loan is ready for disbursement on the date specified by your financial aid office.
You will progress through the application in a series of statuses until your loan has been completed. Below is a list of statuses and what they represent:
APPLYING – your application has not yet been submitted by either you or your cosigner and no credit pull has taken place to evaluate your creditworthiness.
REVIEWING – your application has been submitted and a credit pull has taken place but no formal decision has been made yet on your pre-approval status.
GATHERING – your application has been pre-approved and needs documents and repayment method selected before we can fully evaluate your application.
APPROVING – your application has been sent to the participating credit union for a final approval.
SIGNING – your application is ready for your signature and review before it is sent to your school for a certification of the funds you requested.
DISBURSING – your loan is now complete and your requested funds are being disbursed to your school on the date that they specified.
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