US Federal Direct Loans

US student loans

Eligibility

With the exception of the MBChB Medicine, Nursing, Certificate and Diploma programmes all other full and part-time programmes are eligible for Federal Direct, Parent Plus and Graduate PLUS loans. However, we are not authorised to certify eligibility for any grants.

Off-campus students

Postgraduate research students who spend any period of off-campus study in the US are not eligible for federal loans for that period. Your entitlement will be reduced accordingly.

Application deadlines

New students can apply as soon as they have returned their Acceptance and Financial Guarantee Form to the University of Aberdeen. Returning students should apply from January onwards. We start the certification process for all students in May of each year. Early applications will ensure that your funding is in place at the start of the academic year.

Application procedure

You will need to apply for your PIN for the loan process.

You will also need the University of Aberdeen school code: G09368.

Complete the FAFSA (Free Application for Federal Student Aid). We will use the Student Aid Report (SAR) produced from the FAFSA to assess your eligibility, so make sure all your details are correct.

As the only document we access online is your SAR, you need to email our US Loans team all of the following documents before we can assess your entitlement:

• Screenshot of Entrance Counselling
• A copy of the Master Promissory Note (MPN) for each loan you apply for
• Evidence of a positive credit check if applying for a Graduate or Parent PLUS Loan

There is no way round this process. If you don't supply these documents, we will not assess your eligibility.

Once you email the US Loans team a copy of your documents, we will assess your entitlement and prepare an award letter for visa purposes. You can check the status of your application on the Direct Loans website.

How much can I borrow?

You can borrow the Cost of Attendacne (COA) for the academic year.

Undergraduate students (39 weeks):- tuition fees + £13,194 for living expenses

Postgraduate students (52 weeks):- tuition fees + £16,704 for living expenses

Please consult the Direct Loans website for information on the loan limits.

Award letter

Once your loan entitlement is assessed, we will email you a draft award letter, containing your maximum loan amounts. You may need to use your original award letter for visa application purposes. You must let us know if you want to accept the full loan entitlement or if you would like a reduced amount, or if you address has changed, so that we can adjust your letter accordingly. The loan amount quoted on your award letter is subject to origination fees (1% on Direct Loans, 4% on PLUS Loans). This will be deducted by the US Department of Education at source; therefore your actual loan payment will be lower. Parent PLUS loan payments will be made directly to the student.

When do I get my loan?

• Undergraduate students
• Postgraduate students

Do I have the right to cancel?

NB: If, for any reason, you decide that you will not be attending in the new academic year, it is important that you let us know so that we can cancel any loans that have been certified.

The full right to cancel policy is printed below:

Important information from the USDE regarding your right to cancel Direct Loans

Please read the official extract below carefully

‘Any time an institution credits a student account with Title IV loan funds, the institution must notify the student, or parent for a Parent PLUS Loan, of the anticipated date and amount of the disbursement, the student’s or parent’s right to cancel all or a portion of the loan, and the procedures and time by which the student or parent must notify the institution that he or she wishes to cancel the loan or loan disbursement.

The student or parent must inform the institution if he or she wishes to cancel all or a portion of a loan. If the institution, prior to crediting the student’s account, obtains from the student a written confirmation of the type and amount of Direct Loans that the student wants to receive for the award year, the institution is required to return the loan proceeds, cancel the loan, or do both, only if it receives the cancellation request by the later of the first day of the payment period or 14 days after it notified the student or parent of the right to cancel all or a portion of the loan. If the institution did not obtain such a written confirmation prior to crediting the student’s account, the institution is required to return the loan proceeds, cancel the loan, or do both, only if it receives the cancellation request within 30 days of the date the institution notified the student or parent of the right to cancel all or a portion of the loan. If an institution receives a student’s or parent’s request for cancellation after the periods specified, the institution may, but is not required to, honor the cancellation request (34 CFR 668.165(a)).

If an institution is required to return Direct Loan funds in response to a student’s or parent’s loan cancellation request, the institution is not responsible for returning any portion of the loan disbursed directly to the student or parent. However, institutions are encouraged to take an active role in advising borrowers to return Direct Loan funds that were disbursed directly, if the borrower wants to cancel the loan. For additional information on Title IV loan cancellation requirements, see Chapter 1 of Volume 4 of the 2010-2011 Federal Student Aid Handbook

What if I withdraw from study?

If you withdraw from study during the academic year and have collected a loan payment, the University must determine the amount of Title IV (Stafford Loans) assistance you have earned. If you withdraw from your programme before more than sixty percent of the payment period is completed, the University must repay to your lender the amount of Title IV funds that are deemed unearned. You will be responsible for reimbursing the University for the GBP equivalent of any repayment.

Please discuss your situation with the Loan Administrator before withdrawing as you will be invoiced for any funds the University returns on your behalf, with payment due within 30 days. For more detailed information, please consult our Title IV Returns Policy.

Exit counselling

The US Department of Education regulations require students to complete exit counselling once they finish their studies or stop attending their programme of study (i.e. if you graduate, withdraw, or stop attending university).

Useful information

• New Students' Website
• Information for international students
• International Student Adviser
• Data Protection Policy
• Support for Disabled Students
• Diversity
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• Health and Saftey Policy
• Security