If you’re planning to take out student loans to help pay for college, you’re probably wondering: How long does it take to get student loans, and when should I submit my application?
Understanding the time involved can be critical, especially if your tuition will soon be due.
Keep reading to learn more on how long it takes to get both federal and private student loans.
Key Points
• The time it takes to secure student loans varies based on whether the loans are federal or private, with processes typically taking weeks or longer.
• Federal student loans are usually disbursed once per term after completing the FAFSA®, which can take from five days to over two weeks to process.
• Submitting the FAFSA is essential for determining eligibility for various types of federal aid, and colleges may have their own deadlines for submission.
• Private student loans have varying timelines depending on the lender, with funds often disbursed between two to ten weeks after loan approval.
• Understanding the differences in repayment terms and interest rates between federal and private loans is crucial for managing future financial obligations.
Getting a Student Loan: How Long Does It Take?
Student loan timing can vary depending on whether you’re taking out private or federal loans. In total — from application to disbursement — it can take a few weeks to a few months.
Federal student loans are generally disbursed once per term. The process for private student loans may depend on the lender.
Recommended: Private Student Loans vs Federal Student Loans
Does the Length of Time Vary Between Loan Types?
The length of time it takes to get a student loan can vary significantly between loan types — especially between federal and private loans.
How Long It Takes to Get a Federal Student Loan
Applying for federal student loans is generally a straightforward process. You start by filling out a Free Application for Federal Student Aid (FAFSA®). The FAFSA may qualify you for federal loans, grants, and work-study.
Once submitted, it can take a few weeks to a couple of months for schools to process the application and issue a financial aid package.
Disbursements for federal loans typically occur at the beginning of each academic term, and students usually receive their funds about 7–10 days before classes begin. Because this process is closely tied to the school’s academic calendar, the timeline is more predictable.
Recommended: Important FAFSA Deadlines to Know
How Long It Takes to Get a Private Student Loan
Private loans come from private (aka nongovernment) lenders who don’t have the same set of standards as federal loans. No private lender functions exactly the same as the next when it comes to interest rates, payment plans, and disbursements.
Because each lender will have different application requirements and payment processes, there is no specific timeline for receiving your funds. However, you can generally expect that your private lender will send your loan funds to you or your college anywhere from two to 10 weeks from the date your loan application is approved. Factors like credit checks, missing documentation, or school delays can impact the private student loan timeline.
Private lenders may offer school-certified loans or direct-to-consumer loans. When borrowing a school-certified loan, the loan amount is disbursed directly to the school. Direct-to-consumer loans are disbursed directly to the borrower.
Recommended: A Complete Guide to Private Student Loans
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Tips to Avoid Delays in the Loan Process
Delays in processing or disbursement can add unnecessary stress at the start of a school term. By planning ahead and being thorough during the application process, you can avoid common setbacks. Here are some practical tips to help ensure your loan is processed smoothly and on time:
• Submit your FAFSA or loan application early: The earlier you apply, the more time you allow for processing, corrections, and any required documentation.
• Double-check all personal and financial information: Mistakes on your application—like a wrong Social Security number, incorrect income figures, or mismatched names—can cause delays.
• Respond promptly to requests for additional documents: Lenders and schools may request tax documents, proof of identity, or enrollment verification. Delayed responses can stall your application.
• Work closely with your school’s financial aid office: Your school must certify your loan before it can be disbursed. Stay in contact with the financial aid office to make sure they have everything they need and that they’re aware of your loan status.
• Maintain good credit: If you’re applying for private loans without a cosigner, your credit history plays a key role. A strong credit score and stable income can speed up approval and reduce the need for additional verification.
Avoiding delays in the student loan process comes down to preparation, accuracy, and communication. By submitting applications early, checking details, and staying proactive, you can help ensure that your financial aid is ready when you need it.
The Takeaway
When applying for a federal loan using the FAFSA, it may take anywhere from a few days to two weeks to find out what types of loans you’re eligible for. The loans will then be disbursed directly to your school, at least once per term. If you have questions, contact the financial aid office at the school.
The application process for private student loans varies from lender to lender. It can take anywhere from two to 10 weeks for the loan to be disbursed once the loan application has been processed.
If you’ve exhausted all federal student aid options, no-fee private student loans from SoFi can help you pay for school. The online application process is easy, and you can see rates and terms in just minutes. Repayment plans are flexible, so you can find an option that works for your financial plan and budget.
FAQ
How long does it take to get a federal student loan?
Federal student loans typically take a few weeks to a couple of months from the time you submit the FAFSA to when the funds are disbursed. Disbursement usually happens 7–10 days before the academic term starts.
How long does it take to get a private student loan?
Private student loans can be approved quickly — sometimes within minutes — but final disbursement may take anywhere from two to 10 weeks, depending on the lender, school certification, and whether any additional documentation is needed.
What factors affect how long it takes to get a student loan?
Factors include the type of loan (federal or private), accuracy of your application, school processing time, and how quickly you respond to any requests for documentation. Private loans may also depend on your creditworthiness or cosigner.
SoFi Private Student Loans
Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. SoFi Private Student loans are subject to program terms and restrictions, such as completion of a loan application and self-certification form, verification of application information, the student's at least half-time enrollment in a degree program at a SoFi-participating school, and, if applicable, a co-signer. In addition, borrowers must be U.S. citizens or other eligible status, be residing in the U.S., Puerto Rico, U.S. Virgin Islands, or American Samoa, and must meet SoFi’s underwriting requirements, including verification of sufficient income to support your ability to repay. Minimum loan amount is $1,000. See SoFi.com/eligibility for more information. Lowest rates reserved for the most creditworthy borrowers. SoFi reserves the right to modify eligibility criteria at any time. This information is subject to change. This information is current as of 4/22/2025 and is subject to change. SoFi Private Student loans are originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org).
Please borrow responsibly. SoFi Private Student loans are not a substitute for federal loans, grants, and work-study programs. We encourage you to evaluate all your federal student aid options before you consider any private loans, including ours. Read our FAQs.
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