You are only able to borrow up to the maximum cost of attendance, less any expected financial contribution and other sources of funding. Since these loans are repayable we would advise you not to borrow more than you need. You do not need to take the full amount that you are being offered.
Cost of attendance
The Cost of Attendance is the amount of money a student needs to pay their tuition fees, living expenses and course materials. Most students will need a combination of loans (Unsubsidized and Plus loans) to cover the full cost of attendance. The total maximum Cost of Attendance for 2022-23 is up to £47,177/ $58,971 dependent on each individual’s tuition fees.
Estimated family contribution
The Estimated Family Contribution (EFC) is based on the information provided on the FAFSA. This is the amount of funding that the U.S Department of Education expects the student and their family to contribute towards funding your studies. The EFC will affect the amount of loan available.
Additional sources of funding
This includes any scholarships, grants, bursaries (ex. Veteran Affairs Benefits). Students are required to inform the School Financial Aid Administrator about any internal or external sources of funding they have secured for their studies.
You must be registered and enrolled for your degree programme at the School before your loans can be disbursed. Loans cannot be paid to you until you have completed the enrolment process. Credit denial for Direct Plus Loans can delay disbursement so it is important to confirm that you have satisfied all the credit criteria and that the loan is approved.
It can take several days for Direct Loan funds to be received by the University as it can take some time for the banks to process. You should therefore bring sufficient funds to cover your costs, including rental payments and deposits, for the first 4 weeks of the academic year.
Federal loans will be disbursed in three instalments. Disbursement dates are set for:
September starters entry
Disbursement 1 - 26 September 2022
Disbursement 2 - 09 January 2023
Disbursement 3 - 17 April 2023
Disbursements are dependant on:
- Completion of full registration on the programme
- Enrolment confirmation prior to each disbursement
- Students providing their UK bank account details
- The completion of a Satisfactory Academic Progress report (SAP) by your Tutor/Supervisor sent to the Registry prior to the January and May disbursements.
All disbursements are made in British Pound Sterling. A daily exchange rate is obtained on the dates below to calculate your payments.
Students must ensure that that have sufficient funding for the period leading up to Disbursement 1.
The $/GBP exchange rate changes daily so it is not possible to predict the exact amount that the disbursements will raise in GBP. Please also note that origination fees are applied to Direct Loans at disbursement.
In order to remain eligible for aid you must ensure you continue to meet the following conditions. Failure to meet these condition will mean that you may longer be eligible for aid and that any disbursements can be suspended at any point in the year.
US loan satisfactory academic progress
Students must be enrolled at the School and make satisfactory progress for loan disbursements to be issued. Please see the Satisfactory Academic Progress policy for details.
All students receiving aid must permanently reside in the UK for the duration of their programme. Planned research trips abroad must be reported to the Aid Administrator.
Return of Title IV Funds Policy for Direct Loans
This policy outlines the how the School will handle US loan funds following a student’s withdrawal or interruption. Please see the Return of Title IV Funds Policy for details.
This information is currently being updated. In the meantime if you have any questions regarding the information below, please email email@example.com.
If you are applying for a private US student loan, the School will work with whichever private lender you decide to use, if they are willing to work with us.
Please note that we are only aware of one lender currently offering such loans, which is Sallie Mae. Sallie Mae is not a preferred lender and this does not represent a preferred lender arrangement.
The School issues lists of recommended readings and these are made available in our libraries, there are no required book purchases
- Title IV Loan Code of Conduct
Conduct in relation to US loans prohibits a conflict of interest with the responsibilities of an agent of the school with respect to the previous FFEL Program or private education loans. All agents with responsibility for loans are informed annually of the provisions of the code which prohibits:
- Revenue-sharing arrangements with any lender
- Receiving gifts from a lender, a guarantor, or a loan services
- Contracting arrangement providing financial benefit from any lender or affiliate of a lender
- Directing borrowers to particular lenders, or refusing or delaying loan certifications
- Offers of funds for private loans
- Call centre or financial aid office staffing assistance
- Advisory board compensations
All agents with responsibility for US loans are reminded at least annually of the code.
- Drug and Alcohol Abuse Prevention
Students are prohibited from the use or possession of drugs in University accommodation and this is covered in the Student Accommodation Handbook.
The University's Ordinance 17 provides further information about the procedures to be followed when dealing with student disciplinary offences of a non-academic nature.
Drug convictions will effect eligibility to the US federal loans and this has been outlined in section 483 of the Higher Education Act 1965. Eligibility to the US Federal Loans will be suspended if the conviction occurs whilst a student is in receipt of loan funds. In such cases, students will be liable for returning any us loans received during this ineligible period. The College will provide you with written notice of your loss of eligibility and advise on the methods of regaining eligibility.
Students with previous drugs convictions will be provided with a worksheet which needs to be completed to determine whether your conviction affects your eligibility. This will be sent to applicants as soon as they disclose the conviction when submitting the FAFSA.
The Home Office provide a list penalties imposed on drugs convictions in the UK.
NSLDS is the U.S. Department of Education's central database for student aid. If you take a Title IV, HEA loan, it will be submitted to NSLDS and will be accessible by servicers and schools determined to be authorized users of the data system. We are required by US regulations to