I applied for a student loan for the first time ever. I got approved for private loan from credit union, the website says the next step is for them to send all the information to my college to approve and certify the loan and to determine the dates and amount of disbursement. Then I called my school to ask them how long it takes for them to certify private loans, they said they ONLY certify federal student loans, NOT private loans.
I really need to know if I can get this loan before I start nursing school next week. So what happens now? Do I automatically get the money sent to my bank account from the credit union lender? How does this work?