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Application and Funding Info Questions

Do I need to know what school I'm attending to apply?

Yes, your school information is important. Once you’ve been conditionally approved we'll verify your enrollment information. We will also work with the school to certify the loan and determine how and when the funds will be disbursed.

Do I have to fill out the standard Free Application for Federal Student Aid (FAFSA) form, get federal loans first, or inform my financial aid office?

Completion of the FAFSA form is not part of the Credit Union Student Choice loan application process, but may be required by some schools. We highly encourage all students to complete the FAFSA form and fully exhaust Federal Stafford loans first, and only then use private student loans to help pay for the remaining costs of attending college. Please consult your school's financial aid office for further assistance

How quickly can I get the funds?

With our online application, downloadable credit agreement and fax-back option, the credit union could have the funds ready in as little as seven business days after your conditional approval. However, the exact timeline for disbursing funds will be set by your school in coordination with Credit Union Student Choice.

To apply, do I have to know my enrollment status?

Yes. You must be continually enrolled in a degree-granting program and meet your school’s minimum Satisfactory Academic Progress (SAP) criteria to be eligible. For fall and spring terms, you must be enrolled at least half-time. For summer term, you may be enrolled less than half-time. Should you drop below half-time in the fall or spring, withdraw during any term, or fail to meet SAP requirements, your funding request can be denied, your line of credit may close, and you may enter repayment.

How will I receive my money?

The money will be sent directly to the school. If there are excess funds after your direct school-related costs are paid, the school will distribute the remaining funds to you.

Can I purchase books with my loan?

Yes, you can use your loan to pay for books and other education-related expenses (such as off-campus room and board). Since you may need to buy books before you receive your excess loan funds, you will need to use out-of-pocket funds and then reimburse that source from loan proceeds.

Do I and my co-borrower (if applicable) need to be members of the credit union in order to be eligible?

In order to fund the loan, the borrower must be a primary account holder at the credit union. Co-borrower membership rules vary depending on the credit union from which you borrow. Please review the individual credit union’s Student Choice website for additional details. To expedite funding, visit your credit union’s office or website to open your membership account while we are processing your loan.

I have been conditionally approved. Where do I send the requested documents?

You may submit documents by secure upload, fax or mail.

  • Scan and Upload: You can safely and securely upload your imaged loan documents directly to Loan Processing by clicking Returning Borrower. Once you enter your username and password, choose "Upload Loan Documentation" from the menu and follow the instructions.
  • Fax: If you are unable to utilize the scan and upload feature, you can also print a prefilled Fax Cover sheet from within the Returning Borrower area in order to fax your documents.
  • Mail: To mail via USPS, please send documents to:

CU Student Choice Loan Processing
PO Box 51-482
Ontario, California 91761