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Customer Quote
"ScholarPoint is a great online lender that beats all the other rates I have seen!"

S.H.,
USC Graduate Student

Loan Process

ScholarPoint is the ideal online student online student loan site. We designed our technology platform to provide you with the most complete, and instant, online student loan experience. For the ScholarPoint federal Consolidation loan, every step of the process is quick, easy, and hassle-free. As a national direct education lender we handle every step involved with funding your loan in-house, so you never have to deal with anyone else from application to disbursement.

On ScholarPoint.com you can research loan information and pick the best options. Then, our rapid application includes our Sign Online™ e-signature feature – making the entire process paper free. Finally, our innovative system allows you to the track up-to-the-minute status of your loan…all in a private and secure online environment.

Your online application will take about 15 minutes to complete. Once you sign electronically (E-sign) you are finished and we start the steps to get your loan ready for funding.. It’s that easy! Other student loan lenders may say they’re fast, however they only collect your personal information in order to send you a long paper application - which can add weeks or sometimes months to the time it takes to get your student loan funded.

ScholarPoint's mission is to make the process of financing a college education easier and more enjoyable. Our form is incredibly easy and fast to use. We will post the status of your application to your online account and send you regular emails to keep you informed. Once your loan is funded, we will post a discloser statement on the "My Account" page that provides you with official loan terms.

Consolidating with ScholarPoint will save you time and money. Get Started Now! >

What We Are Doing Behind the Scenes

Once we receive a completed and E-Signed application, ScholarPoint will request payoff information from your current lenders. We are working to automate this process, but are currently required to physically send a form to your current loan holder and request that they fill it out and send it back. The process usually takes four to six weeks to complete. Occasionally, your current loan holder will delay completing the form we send them and even contact you to request that you stay with them. This is a choice you will have to make. We want to serve you and hope that you do choose to work with us. We will contact you if we need additional information during the process.

ScholarPoint is very proactive when it comes to keeping you informed. We accomplish this by sending you regular emails and maintaining your online account with the current status of your loan. At any time, our Online Loan Specialists are available via email, chat or phone.

If you have any questions, comments or concerns about ScholarPoint or our processes please feel free to call us at: (877) 561-8042 or email us at: support@ScholarPoint.com

If We Hold Your Application:

There are occasions where due to your graduation date and/or your Grace Period, you will request that we hold your application. The reason for this is either (A) while your loans are in an "in school" status you are not able to perform a consolidation. We will hold your application until after you graduate or have placed your loans in repayment and then process it or (B) if you are in your Grace Period on Stafford loans, you are receiving an interest rate that is 6/10th less than what it will be when in repayment. Also, if you have Subsidized loans, the government is paying your interest. We want to capture the best of both worlds for you by consolidating at the end of your Grace Period. This way you receive the lowest rate possible and still have the government pay your interest rate for the longest possible time. We will hold your application for up to six months.

Our Partners

ScholarPoint has built a strategic partnership with Indiana Secondary Market (ISM), a non-profit holder of education loans, and together we have secured the services of American Education Services (AES) to service your loan. AES is one of the largest 3rd party servicers in the country. Most lenders strive to have a relationship with AES for servicing. We are pleased to offer you these top services.

Our Partnership with ISM combined with our automated process allows us to offer you our industry-leading discounts. We are proud of the relationships we have built with ISM, AES and our clients.