Standard Application and Funding Timeline:
Private student loans often require a long processing time, due in large part to submitting and reviewing the necessary documentation and waiting for the school to certify the requested loan amount. Please review the timeline carefully so you know what to expect!
(NOTE: You will receive timely e-mail updates throughout the process.)
The information below is presented in a tabbed format. Use the tab and enter keys to move between tabs and any links presented below.
INITIAL CREDIT APPLICATION STARTED - DAY 1
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Normal Timeline: From as little as 20 minutes up to 3 business days [depending if you can provide all the necessary information for the student borrower and co-borrower (if applicable) at the time of application]
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Information You’ll Need to Successfully Complete the Application:
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Personal Info (such as name, date of birth, social security number)
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Personal info for your reference (reference cannot be co-borrower)
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Sufficient income information for either the borrower or co-borrower (if applicable)
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School enrollment information
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Amount needed for your current school term
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If applying with a co-borrower, you’ll want to have them present. The co-borrower will also need to provide the same type of personal information as the student borrower. If they cannot be present, you should have their primary email address on hand - we'll send them a notification to input their information.
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Credit Union Membership Information: You do not need to be a member to start the application, but the borrower must be a member of the credit union before you can receive funding. Visit the Shell Federal Credit Union website for membership information.
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Questions: For more questions and answers about our funding solution, check out our Frequently Asked Questions. If you need assistance completing your application, feel free to give us a call at 877-230-7661 24 hours a day, 7 days a week.
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DOCUMENT SUBMISSION AND VERIFICATION - DAYS 2-16
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Normal Timeline: From 5 to 15 business days. The most common delays in this process involve the need to submit additional documentation that is needed for the verification process. To streamline the process, use the document submission option through “My Account” and submit only the required items.
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Documents Needed: Once your application has been conditionally approved, your “My Account” page will update with all required documentation for you and your co-borrower (if applicable). The required documentation can vary from one application to another, so please review this page.
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Document Submission: The most efficient way to submit all documentation will be through your “My Account” portal. Next to each requested document, you simply click submit and attach the requested file. If you don’t have the requested document, please call a student lending representative 24/7 at 877-230-7661. We will ask you a few questions to understand your situation and provide you with an alternative if available.
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LOAN CERTIFICATION BY YOUR SCHOOL - DAYS 17-31
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Normal Timeline: From 3 to 15 business days. Once you reach this point, your application has been fully approved and we are waiting for your school’s financial aid office to approve the loan amount you requested. The most common delays at this stage are related to the time of year and the processing time at your school’s financial aid office. During the start of each semester, financial aid offices are inundated with these requests and may require extra time to return them.
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Certification: Certification is the process whereby we send your loan request to your school’s financial aid office to verify your enrollment and requested loan amount. Once certified, the school will also provide us with a date for when the loan funds should be disbursed to the school.
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LOAN DISBURSEMENT TO YOUR SCHOOL - DAYS 32-42
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Normal Timeline: 8-11 business days. Once the certification has been returned by your school, we will complete a few final checks and then remit payment directly to your school.
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Fund Transmission: We always send loan funds via electronic payment methods if available through your school. If the school does not accept these options, we will mail them a physical check.
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