If you plan on borrowing a Private Educational loan, you must reach out to the lender you select and complete their application and credit check. Additionally, you must respond to three unique disclosures from your lender before loan funds can be certified by Regis University. Some lenders have the capability for you to sign these disclosures online, while others will mail you disclosures that require your signature before your loan can continue processing. Title X of the Higher Education Opportunity Act (HEOA) also added a self-certification form that the student must return to the lender before the school will be asked to certify the loan. In order to complete the self-certification form, you must have available the cost of attendance for your academic program. Please see Financial Aid Preparation: Planning for your 2017-18 Educational Expenses (Non-Traditional). If you need further assistance completing the self-certification form, please contact your financial aid counselor at email@example.com or 303.458.4126.
Once your loan application is finalized by the lender, and you have accepted the final disclosure and the loan has been certified by the University, there is a mandatory rescission period that must pass before the first loan disbursement can take place. No Private Educational loan funds can be disbursed to a student’s account during this period, and the borrower may cancel the loan without penalty if they decide that they do not want to accept the terms of the loan. For most lenders, the rescission period is is typically 10-15 business days.
You can view the aid disbursement process and schedule here.