Lender's pre-approval process
We strongly encourage parents and students to use the lender’s
pre-approval process. Borrowers may apply over the phone or via the
lender’s web site. Pre-approved loans must be followed up with
completion of the paper or on-line application form. To be
considered as a financing option to cover the college bill, actual
loan approvals, not pre-approvals, are required by mid-August for
fall term registration and by mid-January for spring term
registration. A loan in process is not acceptable after these times.
Student borrowers are usually required to provide the following
information if applying over the phone or internet:
· social security number;
· date of birth;
· driver’s license number and state;
· loan period and amount;
· name, address, and phone number of reference (other than
co-signer).
Co-signers will be asked the following information:
· student’s social security number and PIN if applying on the
internet;
· driver’s license and state;
· date of birth;
· gross monthly income;
· monthly housing cost;
· home telephone, with area code;
· employment information;
· other income information, if applicable.
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