Frequently Asked Questions for Students

About Meritize

Who is Meritize?

We know you are more than your credit score, and we believe your past achievements are an important indicator of your potential. That’s why Meritize looks beyond FICO and uses your previous academic, military, or work achievements to enhance your credit evaluation and potentially improve your loan options.

How is Meritize different from other lenders?

Unlike most lenders, Meritize goes beyond just looking at your FICO score and considers your academic, military, or your work achievements to enhance your credit evaluation and potentially improve your loan options. Even students who may lack a co-borrower can improve their loan options by sharing their past merits.

How can I talk to someone at Meritize?

You can call us at 833-MERIT-4U (833-637-4848) or email us at [email protected].

What states are you licensed in?

To see a list of the states we are licensed in, click here.

What is your Privacy Policy?

To see our Privacy Policy, click here.

What does Meritize do with my information?

  • We never sell your information to third parties.
  • We practice fair lending in accordance with state and federal laws.
  • We ask for your most recent transcript, military documents, or career information to potentially improve your credit evaluation and loan terms. It will not be shared.
  • We may use aggregated, non-identifiable user information to track trends for data research and publishing purposes. Any information used for research and publishing purposes is completely anonymized.
  • For more information, read our Privacy Policy.

Apply for a loan

How do I apply?

If you know which program you want to attend, you can access the Meritize loan application here. If you don’t know what program you’d like to attend, use the Meritize Connect tool to learn more about the options available to you. Through Meritize Connect, you can apply for funding directly and get connected to programs to learn more.

Does applying for a loan affect my credit score?

Checking your loan options online will not impact your credit score. When you check your rate to see what offer(s) you may qualify for, we perform a soft inquiry on your credit report, which won’t impact your credit score. Other creditors won’t be able to view soft inquiries since they can only be seen by you. Once you’ve selected the loan option that’s best for you, you’ll be asked to complete an application and to enter additional information. Once your application is complete we perform a hard inquiry on your credit report which may impact your credit score. We will let you know during the application process at what point your credit score might be impacted.

Can I apply if I’m an international student?

You must be a U.S. citizen or permanent resident to apply for a Meritize loan.

Can I get approved for a loan if I don’t have a co-borrower?

Having a co-borrower can potentially improve your loan options. Because Meritize considers your academic, military, or work achievements, you get credit for your merit and could be approved without a co-borrower.

What if my school is not currently a Meritize partner?

Meritize pre-approves our school partners. If your school is not currently a partner, let us know here.

You can also speak with your school about becoming a Meritize partner, which can increase access to student funding.

How can I find out the status of my application?

Call us at 833-MERIT-4U (833-637-4848) or email [email protected].

How do I accept my offer?

To accept your loan offer, either accept within the application, or reply back to the email you received from [email protected] with the subject line “Congratulations from Meritize.” If you are having trouble finding this email, please check your junk/spam folder. If you have any further questions, call us at 833-MERIT-4U (833-637-4848) or email [email protected].

How long does it take to get a decision on my loan application?

You will receive a decision on your loan 2 business days after Meritize receives your completed application. A completed application includes your merit documents or confirmation that you do not plan to include these with your application.

Can I reapply if my loan is declined?

Yes. If your loan is declined, you’ll receive a notice via email to help you understand the reason for your denial. Once you have addressed the issues listed on your credit report, we encourage you to reapply.

Merit documents

What are merit documents?

Merit documents are records from your academic, military, or work history.

Why does Meritize ask for merit documents?

Meritize has a proprietary credit evaluation that takes your previous experience and gives you financial credit for it. We look beyond your FICO score at your merit documents to potentially give you better loan terms.

How do I submit my merit documents?

If possible, please submit your merit document with your online application. If you applied and did not include your merit document, please send it to [email protected].

Can I send a transcript in a foreign language?

Meritize accepts transcripts in English. Your transcript can be from a country other than the U.S. if it is in English with detailed descriptions of classes and grades.

About your loan

How does interest accrue on my loan?

Interest begins to accrue once money is disbursed to your school. Interest will accrue on your loan while you are in school, even if you select to defer making payments until after you complete your program.

Meritize calculates interest at a simple daily rate and a portion of the interest accrues every day.

How do I change my payment/deferment terms?

Call us at 833-MERIT-4U (833-637-4848) or email [email protected].

How do I change the amount I need to borrow?

Call us at 833-MERIT-4U (833-637-4848) or email [email protected].

What if I withdraw from my school?

If you withdraw from your school, please notify us as soon as possible by calling 833-MERIT-4U (833-637-4848) or emailing [email protected].

Pay back your loan

Who is Scratch?

Scratch is our loan servicing partner. You will manage and pay your loan through Scratch and can login at

What types of payment options are available to me?

Meritize Loans offer fully deferred payment options to allow you to focus on your education and not make payments until after you finish your training. You can also make interest-only or full payments on your loan while in school. It’s your choice.

Can I set up autopay?

Yes, you can set up autopay**. You can receive a rate reduction of 0.25% if you enroll.

** The 0.25% AutoPay interest rate reduction applies if you make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account.  AutoPay is not required to obtain a loan.

Does Meritize charge a fee for paying my loan off early?

Meritize does not charge prepayment, early payment, or extra payment fees.

Borrower benefits

What are Career Services and are they free?

Career Services are available to our Meritize members at no cost and provide academic coaching, job search bootcamp, and on-the-job coaching to improve your performance. Learn more here.

What protections does Meritize offer me?

Meritize offers borrower assistance services to help with unemployment and underemployment when it might be difficult to make payments. By engaging in our free Career Services, you may be eligible to receive forebearance on your loan and gain valuable career assistance to get you back on your feet with a job.