Do I need to re-apply for a new loan every quarter / semester / year?

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Last Updated: June 30, 2022

You'll need to apply for a new loan to cover any upcoming academic period (i.e. Fall, Summer), a single semester, or a full academic year. 

Borrowing for the full academic year saves you time, only requires one credit inquiry, and simplifies the process. You'll lock in your rate. Plus, interest won't be charged on any money until it's sent to the school.

There are 2 ways to apply for your next loan:

- Submit an online application

- Download our free mobile app from the Apple® App Store® or Google Play™ Store, go to the Menu, and Apply Now. This will pre-fill some of the application fields with info such as your name and address. 

 

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