What does each application status mean?

Applications — all applications that have been submitted

Table	Definition	Status and Next Steps to Funding
In progress	Applications that have not received an application decision from Climb. Climb will request more information to verify the student's application and information (including product type, financed amount, etc) is still subject to change. This can include: Verify SSN Provide proof of residency Provide proof of income	Missing docs - student or co-borrower need to provide information to Climb Under review - all documents have been submitted and Climb is reviewing Processing - Climb is reviewing the application
Pre-approved	Climb’s initial review indicates that the application appears to qualify and can likely be approved, but final approval has not yet been issued. Note: If a duplicate or second application is submitted, it will go into Processing status — not Pre-Approved. This allows our team to manually review the duplicate and prevent conflicting approvals.	Applications enter “Pre-Approved” status when proof of income or proof of residency documentation is required for either the borrower or co-borrower. Essentially, as long as all information provided on the application is accurate and the required documentation is received, Climb will be able to send an approval after review. School: No action required while in “Pre-Approved.” Student: Please submit any requested documentation promptly to move forward.
Approved	Student has been approved by Climb and has yet to accept their loan terms by signing loan documents	Expires in X days - the amount of time remaining for the student to accept their Climb offer
Accepted	Application has been approved and the Climb offer has been accepted	Cancellation period - we are within the student’s legal cancellation period Enrollment period - we are within the student’s drop period (the time between enrollment and funding set by your school and Climb) or the program has not yet started Request pending - there is a request outstanding on the loan Ready to verify - student can be funded pending verification by the school Verified - students who have been verified but are not yet funded
Ready to verify	All of the applications that are ready to be verified by the school prior to funding	Ready to verify - student can be funded pending verification by the school
All applications	All applications that have been submitted	Includes all of the statuses above and applications that have been closed out:   Incomplete - students who never completed their application Dropped - students who ended up dropping the class before their loan got funded Declined - students who decided not to accept the Climb offer Re-apply with co-borrower - students who were denied

Enrolled — all students who are enrolled in Climb financing

Status	Definition
Fully funded	Student has been funded but repayment data has not begun yet
Partially funded	For multiple disbursement loans only, a portion of the student’s loan has been disbursed but repayment data has not begun yet
On track	Students who have been funded and are on track with repayment
Past due	Students who have been funded and are behind on repayment
Refund initiated	School has requested a refund on a funded student and is in the process of being reviewed by the Climb team
Refund processing	Climb is in the process of adjusting the student’s balance but may be waiting on funds to be returned from the school
Collection	Student has been placed in collections
Verify standing: on track	For multiple disbursement loans only, the next portion of the student’s loan is ready to be verified and student is on track with payments on previous disbursements
Verify standing: past due	For multiple disbursement loans only, the next portion of the student’s loan is ready to be verified and student is past due with payments on previous disbursements

Archived - students whose payments are complete or whose applications are inactive

Table	Definition	Status
Payment complete	Student has completed payments or the balance is $0	Complete - Paid in full: all payments have been made  Complete - Canceled: the loan has been canceled and the balance is $0  Complete - Compromised: the balance is $0  Uncollectible - The loan has been charged off and payments are no longer being collected
Archived	Applications that are inactive	Incomplete - students who never completed their application Dropped - students who ended up dropping the class before their loan got funded Declined - students who decided not to accept the Climb offer Re-apply with co-borrower - students who were denied Offer expired - student was approved but did not accept their offer in time

All Students — every application record