If you’re approved for a private student loan, the lender will send the loan to your school for certification. During this process, your school will confirm several details, including your: Requested loan amount. Enrollment status. Grades. Anticipated graduation date. Your school can then opt to certify the loan you requested as-is, certify it with changes, or not certify it. Afterward, the lender will send your loan funds directly to your school. Your school will use the funds to cover your required tuition and fees before refunding any remaining amount to you. Note that the certification process typically takes seven to 10 days, but it could take longer depending on the time of year and your school’s procedures. For example, January and August tend to be particularly busy months for schools, so certification could be delayed. Because of this, it’s generally a good idea to apply for a private student loan as soon as you know you’ll need one. This way, you can avoid any potential delays.