All private loan applications are processed by the SFS Boston team. SAC does not have access to application details. All private loan applicants must monitor their status updates via their online portals.

Private loan applications can take approximately eight to twelve-plus weeks for processing. Once the application status has been updated to reflect funding eligibility, a disbursement date will be made available. Please note that finalized/processed private loan applications will not have funding disbursements released until at least two weeks after the start of the term. It should also be noted that funding disbursement dates from the lender are not the same date that funds are received by NU. Generally speaking, NU receives funds approximately 1-2 weeks after the lender’s disbursement date.

Current students can fill out the SAC Private Loan form, which is monitored regularly for any funding that is disbursed.  Once the form has been filled out, there is no need to send update requests as all students who submit the form will be sent a notification by SAC once funding has been received by Northeastern University’s SFS Boston team.

If all fees are paid in full by the private loan funding at the time of the transfer, any credit balance remaining (if applicable) will be sent to the student via a CIBC outbound payment.  SAC will send emails directly to students, so please ensure that you are checking your NU email for updates.  We ask that the details are not shared, as the process will not work for students who have not reached that stage in processing.

NOTE: All funds transferred from a U.S. Northeastern student account to a Canadian Northeastern student account will be converted at an exchange rate that is determined by the university. The pre set rate is applicable for the fiscal year (for example, July 1, 2023, to June 30, 2024).

Information regarding private loan application details can be directed to the SFS Student Inquiry form.  If you need to make changes to your budget, you can go to the Contact Us section of the SFS Student Inquiry form to submit your revised details for consideration.  Please note that all updates will require supporting documentation (i.e., a change in rental amounts will require a copy of your Rental Agreement, etc.). All submissions should include the term, your NUID, and your lender in the description box.