How Long Does it Take to Get a Student Loan in the USA – (And Why)?

Exact Answer: 1-3 weeks

Many students depend on loans for their studies, not only in the United States of America but also worldwide.



Test your knowledge about topics related to Education

1 / 10

Who invented the light bulb?

2 / 10

GPA is considered important as it is required for taking admission into the Bachelor's and Master's degree programme. State true or false.

3 / 10

What is the study of languages called?

4 / 10

What is the capital of the country Greece?

5 / 10

What is the study of plants called?

6 / 10

What is the study of history called?

7 / 10

Who wrote the novel "Great Expectations"?

8 / 10

What word, taken from German, names the traditional first formal year of U.S. schooling?

9 / 10

We've all heard of a pandemic, but what is an 'infodemic'?

10 / 10

What is the study of light and color called?

Your score is


Loans have helped a lot of people, especially the less fortunate in society, to acquire their studies and become successful people in the community as well as in society.

How Long Does it Take to Get a Student Loan in the USA

How long does it take to get students loan?

Loan TypeTime
Federal Student Loan1 to 3 weeks 
Private Student Loan2 to 10 weeks 

You need to note that there are two types of loans, federal student loan money as well as private student loan money.

Additionally, both have a waiting duration before you get the money.

Therefore, private student loan takes a span of 2 to 10 weeks to be processed and for you to acquire while the federal student takes absolutely 1 to 3 weeks for you to get.

There are several steps you should follow to obtain a federal loan, such as:

Filling the free application for federal student aid (FAFSA)

The first major step you should consider while applying for your loan.

You can either apply digitally or in an analog way; therefore, it is upon you to choose your preference.

However, if you use the online application, it might be appropriate for you, especially if you have a valid email address.

Furthermore, you can finish the process of application in a very few minutes as opposed to other ways.

Wait for the procession of your FAFSA

After your application, all you have to do is to wait so that your FAFSA is processed.

Usually, the process never takes that long, and it takes a span of 3 – 5 days, depending on the method of application you might have used.

The report summarizes your family contribution expectations as well as you’re your free application for federal student aid.

Moreover, after it is processed, you will receive a student aid report. This is very vital as it determines how long it might take you to acquire your loan.

Receiving your award package

The financial office at your college will receive a FAFSA report to determine if you qualify to get the loan.

It will therefore prepare and issue a financial aid award letter at the end of March or early April.

Additionally, the letter will contain information on non-based loans as well as need-based federal student loans.

Signing your master promissory note (MPN)

You will be required to sign a master promissory note, and this covers a continuous process for ten years.

You might receive these 10 days from the beginning of your classes. However, a first-year might wait for as long as 30 days.

Steps for getting a private student loan

Usually, the steps for getting loans vary from time to time.

It is, therefore, necessary for you to follow the following steps to acquire a private loan, such as; researching your decision, make your applications, submit them to the right office as well as decide if Cosigner is necessary.

It is recommendable that private student loans should be your last option. This is mainly because private student loans are usually unforgiving, unlike federal loans.

Furthermore, they have higher interest rates.


How fast or slow you get your loan depends on you on your steps of application. This also explains why it might take you long or short to get your loan. Therefore, you need always to be smart to make a wise decision on matters about a student loan.


One request?

I’ve put so much effort writing this blog post to provide value to you. It’ll be very helpful for me, if you consider sharing it on social media or with your friends/family. SHARING IS ♥️