A month or more
This application takes at least a month to process. Get your SAR (Student Aid Report). Check this over for mistakes and send to your school. Your school uses the EFC (Estimated Family Contribution) on your SAR to determine how much aid, including student loans, you will need to attend classes. For security reasons, your lender is unlikely to send a check or money order. These days, most schools prefer to receive loan funds directly. If your lender agrees to disburse your loan in this manner, you can expect to receive its full balance within 30 days of the official start of the semester. Depending upon the cost of your tuition and the size of your individual student loans, you may need to apply for several student loans per semester. If you attend school at an expensive private institution, you may be on the hook for a dozen or more loans. I, myself, have had good credit for a solid two years now. I am 20 years old. I am waiting to see what else the university can do for me and am also looking into other options, but in the even that I do have to get a student loan, 1. Unfortunately, even perfectly-placed student loan applications that encounter no unexpected delays or problems can take months to bear fruit. In order to ensure that you receive student aid for your first year of college, you'll need to begin applying for aid in January of that year. · just now. Report Abuse. It depends on the kind of loan. Federal student loans can take anywhere from 2 weeks to 6 months, depending on the speed of the financial aid office. Assuming all your paperwork is in order, chances are it'll be around the 4th week of school, give or take. The same is true of school-based private student loans. This step can take a month or more. Receive notice from your school about your aid package. Fill out paperwork for student loans. Get money. Usually, student loan funds are disbursed during the first week of classes.
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how long does it take to receive student loan