Refinance Application Timeline


Important Application and Funding Information:

Refinancing your student loans can often require a long processing time, due in large part to submitting and reviewing the necessary documentation and verifying the correct loan amount. Please review the timeline carefully so you know what to expect!

(NOTE: You will receive timely e-mail updates throughout the process.)



  • Normal Timeline: From as little as 20 minutes up to 3 business days [depending if you can provide all the necessary information for your original student loans at the time of application] and whether or not you have a cosigner.
  • Information You’ll Need to Successfully Complete the Application:
    • Personal info (such as name, date of birth, drivers license, and social security number)
    • Personal info for your reference (reference cannot be cosigner)
    • Employment information and income documentation for either the borrower or cosigner (if applicable)
    • Graduation verification documentation (borrower only)
    • Loan account number, loan balance or payoff amount, curent interest rate, remaining term, and servicer information for each loan being refinanced
    • If applying with a co-borrower, you’ll want to have them present. The co-borrower will also need to provide the same type of personal information as the student borrower. If they cannot be present, you should have their primary email address on hand - we'll send them a notification to input their information.
  • Credit Union Membership Information: You do not need to be a member to start the application, but the borrower must be a member of the credit union before you can receive funding. Visit the Service Federal Credit Union website for membership information.
  • Questions: For more questions and answers about our line of credit, check out our Frequently Asked Questions. If you need assistance completing your application, feel free to give us a call at 844-621-2516 24 hours a day, 7 days a week.


  • Normal Timeline: From 5 to 15 business days. The most common delays in this process involve the need to submit additional documentation that is needed for the verification process. To streamline the process, use the document submission option through “My Account” and submit only the required items.
  • Documents Needed: Once your loan been conditionally approved, your “My Account” page will update with all required documentation for you and your cosigner (if applicable). The required documentation can vary from one application to another, so please review this page. 
  • Document Submission: The most efficient way to submit all documentation will be through your “My Account” portal. Next to each requested document, you simply click submit and attach the requested file. If you don’t have the requested document, please call a student lending representative 24/7 at 844-621-2516. We will ask you a few questions to understand your situation and provide you with an alternative if available.


  • Normal Timeline: From 3 to 15 business days. Once you reach this point, your loan has been approved and we are waiting for any additional documents or payoff information, which are the most common delays at this stage. You can reduce this wait time by providing detailed information during your application and while submitting documents.


  • Normal Timeline: 8-11 business days. Once the payoff has been verified by your original lender, we will complete a few final checks and then remit payment on your behalf per the details of your new refinance loan.
  • Fund Transmission: We always send loan funds via electronic payment methods if available. If the original lender does not accept these options, we will mail them a physical check.