Borrowing Process

The Borrowing Process Consists of 6 phases:

  • 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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