WSU University Loans
Truth in Lending Act Requirements
The Truth in Lending Act resulting in a number of changes regarding the process for applying and receiving private education loans, including Wayne State University (WSU) University Loans. Departments who provide these loans must comply with the following requirements:
- You must be provided with three separate loan disclosures -- one at the point of application, one when the loan is approved, and one before the loan is disbursed.
- A waiting period of three business days is required between the time the borrower receives the final loan disclosure and the time the loan is disbursed.
- Borrowers must also sign a self-certification form and submit it to the lender before the loan can be disbursed.
University Loan Programs