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Financial Aid 

 Processing Changes for Non-Federal Loans 



Information About Processing Non-Federal Private Educational Loans

Disclosure Forms
Each lender must provide the required disclosures to the student and cosigner, if applicable, at three different times during the alternative loan original process:

  • Application Disclosure - During the online application process
  • Approval Disclosure - After the loan receives final approval
  • Final Disclosure - After the loan has been accepted by the student and the cosigner, if applicable

Borrower Self-Certification Form
A credit-approved student borrower must submit a completed self-certification form to the lender before school certification will be requested. It is up to the individual lender as to where in the process and by what means this form will be collected from the borrower.

  • Once the student has received the Self-Certification form from the lender, the student can complete the form using information on SRU's "Self Certification Page Instructions."

Timing Requirements
Federal regulations extend the loan processing timeline. For prompt processing of these loans, it is critical that borrowers meet the deadlines for all steps of the process.


  • Upon receiving the Approval Disclosure, a student and cosigner, if applicable, must accept the loan within 30 calendar days.
  • Once Final Disclosure is presented to the student and cosigner, if applicable, the disbursement is locked and changes cannot be made.
  • Upon receiving the Final Disclosure, the student or cosigner, if applicable, may cancel or rescind the loan offer within three business days. This expiration date is denoted on the Final Disclosure. The lender must wait until this three-day period has expired before disbursement of funds can take place. It may take up to six days for the loan to be disbursed due to additional processing time to meet the regulatory requirement of the Final Disclosure.


Contact Information

1 Morrow Way
Slippery Rock PA 16057

107 Maltby Center

724.738.2922 (fax)

M-F: 8:00-4:30
Summer: 8:00-4:00



US Department of Education

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