Getting A Quick Student Loan: 5 Things to Remember and Places to Look





The idea of a quick student loan appeals to you, right? Me, too. Getting a loan fast can really take the pain out of college tuition and other school expenses.

You probably have heard about quick student loans, but let’s look at a few things you need to remember as you look at the loans with this name on them, and you’ll have fewer surprises.



5 Things to Remember

1. Snags
When you apply, you need to make sure you understand the requirements for the loan. What do you need to provide to the bank or the school?

This isn’t a FAFSA loan I am talking about, but you will need to provide the same kind of information. If you have to provide tax information from past years, for example, it may take you some time to get that info.

2. Extra Requirements
When you apply for your loan, and you know what the bank needs, guess what? In the application process, don’t be surprised if you have an extra requirement along the way.

What kind of extra? Maybe it will be a co-signer, or a tax return. You can often prevent this kind of surprise by asking good questions at the start of the process.

For example, when you turn in your application or other items, you can ask if you have everything necessary for the application.

3. Disbursement
Let’s say you have your application in, and your quick student loan is really moving fast. Great!

Now would be a good time to ask about disbursement. I remember one bank that disbursed my loan in 2 days – very quick.

This may happen for you, too. But don’t be surprised if your bank has a disbursement policy of a week.

4. Your Money
If you are receiving the loan directly, great! You are done by now!

But if not, you have one more step. Okay, you have your loan approved, and it’s being disbursed or already sent to your college or university. Now you need to know how fast your school will process it.

The place to call is the financial aid office. They can tell you when you can pick up a check.



5. Holidays
What happens if your loan is disbursed on a bank holiday? You may have to wait a day. That’s just the luck of the draw, and it won’t happen often.

As you can see, a quick student loan may still take a couple of weeks. Much of it depends on you providing the correct and complete information for your loan.

Use the list for reference. You might have a shorter or longer time to get your loan, and many banks have improved their processes. It may only take you a week, but be prepared for it to take longer.

Places to Look

If you need a loan, here are a few places to look for a quick student loan:

Sallie MaeCitibank Student LoansBank of America Student Loans

Here's one that isn't as well known: CU Student loans

Finding funding for your tuition can be a difficult process. Keep working at it, and apply for as many scholarships and grants as you can. You’ll be glad you finished.

Click here for a free ebook full of grants!




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