Learning the Loan Process

Before you dive into the details of student loans or start completing loan applications, it may be helpful to get an overview of the loan process.

This section describes the players in the process, how the process works, the implications of signing a promissory note (i.e., your "contract" to borrow money and repay), and how you will receive your money (the loan proceeds).

• The players
• Loan life cycle
• Borrower's contract, promissory notes
• Loan proceeds