How far in advance can I apply for a PLUS or Alternative Loan?
Most loans can be applied for well in advance of the start of the semester. It is important to note that each lender has its own set of eligibility criteria that may include an expiration date as it relates to their credit check. Most credit checks are good for as little as 90 days and as long as 180 days, so you will need to time your application to coincide with your lenders credit expiration criteria. Because most educational loans are approved and processed quickly, borrowers can begin the process a few weeks before their bill is due, with the exception of the CT FELP loan which normally takes 4-6 weeks for processing.
