Loan Application Process

At TERI, we know that applying for a student loan can seem complicated, especially to new borrowers. That is why we have done our utmost to simplify the process.

Step 1 // Getting a Preliminary Approval.

Get a preliminary decision on your loan application online, by phone or by mail. Click here to be linked to the “How to Apply” section. Once we receive the information we need from you, we will usually notify you of our preliminary decision in just a few minutes by email.

Step 2 // Getting Final Approval.

Once you receive preliminary approval of your loan, TERI will send you your loan application and “credit agreement” to complete and sign. If you are applying as a “credit-worthy” applicant, you and any co-signers must also provide “income verification.” Return the documentation to us by fax to (888) FAX-TERI or by mail to TERI Loan Processing, PO Box 848108, Boston, MA 02284-8108.

Step 3 // Getting my Loan Funds.

We will send your loan funds directly to your school within 5 business days of receiving your completed and signed loan documentation and your enrollment has been confirmed by your school. If you are borrowing a Continuing Education loan, we will send the loan funds directly to you.