What is Loan Certification?

Loan certification is a process in which the college you are attending reviews the amount you have requested to borrow in an education loan and ensures your eligibility to borrow. The school will confirm that you are enrolled as a student and that the amount you have requested does not exceed the school's Cost of Attendance minus your financial aid. The school may also need to confirm other details in order to certify the loan, such as that you are enrolled at least half time and that you are making Satisfactory Academic Progress. The college will also select a loan disbursement date for each semester.

Your school can certify the loan as is, or they can certify it with changes, such as lowering the loan amount if it exceeds the Cost of Attendance minus your financial aid (note that a school cannot increase the loan amount). The school also has the option to not certify a loan, which they may do if they cannot verify that you are enrolled. A lender is unable to send the requested funds to the college until the college certifies the loan.

While loan certification is generally a quick process, it may sometimes take longer because of the volume of loans a financial aid office may have to certify. If you are wondering when your college will certify your loan, reach out to your school's financial aid office.

Why does this matter to you?

Loan certification is intended to protect families from borrowing more money than is needed to pay for college. MEFA Loan borrowers will need their college to certify their loan before MEFA is able to send loan funds to the student's college account.

For more information on MEFA loans, and to apply, visit our MEFA Loans page.

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