The Vermont Advantage Loan Application Process: Frequently Asked Questions
I'm a student interested in applying for the Vermont Advantage loan. How do I know if I am eligible? Can I apply on my own?
How do I know if my cosigner is approved?
Why was my paper application returned to me?
Your paper application may have been incomplete. Carefully read the cover page and all pages of the Vermont Advantage loan application and fill out all required information.
After you completely fill out the application, make a copy for your records and mail the original to:
VSAC, 10 East Allen Street, PO Box 999, Winooski, VT 05404
You may also complete the application on line.
Note: Faxes, photocopies, and e-mail attachments can not be accepted.
Why does the private loan application process take several weeks?
What can the student do to keep the process on track?
Watch for communications from VSAC:
- The Approval Disclosure
Once the cosigner’s credit is approved and the credit agreement is complete, VSAC will provide the student borrower with an Approval Disclosure and specific instructions on how to accept the loan terms. The student borrower MUST actively accept the loan terms in order to keep the loan moving forward.
- The Final Disclosure
VSAC provides this document to the student borrower once all the required information is received from the student and from the school.
The final disclosure gives the student:
- an estimated repayment schedule and loan terms
- details about the student's "right to cancel"
How and when will my school receive the funds?