Every application we receive at Earnest will be considered for the full loan amount an applicant requests. Once an application has been approved, we will send all information to the school for final approval and certification of the total loan amount needed for the cost of attendance. This helps ensure students don’t take out more money than needed and helps reduce the overall cost once the loan enters repayment. Depending on whether the school includes other costs needed for attendance (e.g. books, living expenses, transportation, etc.), they may certify a loan for less than the requested amount.
A school's financial aid office has the final authority on the final loan amount and disbursement. If you need to make any adjustments, you will need to contact their office to request the change. If you have already discussed the needed updates with them, they will take steps to let us know of the changes. Once the update has taken place, you will receive an email letting you know of the change. For more information on loan certification, feel free to check out this article here.