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US Federal Loans

The University of Salford deals with U.S. federal loan (Title IV) funds.  Rules and Regulations are different for foreign schools.

Please ensure that you have read all the guidance before beginning your application.

Only full and complete applications will be considered from 1st June 2017, we will be in touch as soon as your application has been processed to let you know of the outcome.

We cannot process your loan until all information is complete. Please refer to the flowchart attached to assist you in completing your application before submission. If you send an incomplete application it will be rejected.

These are now Federal Direct Loans that are provided by the US Government and are available to US citizens and eligible non-citizens who have firmly accepted an unconditional offer to study at the University of Salford.  Federal Direct Loans consist of Subsidised and Unsubsidised Loans https://studentaid.ed.gov/sa/types/loans.

PLUS loans are federal loans that graduate students and parents of dependant undergraduate students can use in addition to Subsidised and Unsubsidised Loans https://studentaid.ed.gov/sa/types/loans/plus.

For basic eligibility criteria please follow the link https://studentaid.ed.gov/sa/eligibility#basic-criteria

You must be enrolled at least half time on an eligible degree course at the University of Salford in order to receive the Federal loan. For further guidance with regards to non-eligible courses and non-eligible modes of study please see attached form

If any part of your course is delivered online (for example distance learning courses) or if you will be studying in the USA for any part of your course you will not be able to take any Federal loans, though you may apply for a private study loan. Students at the University of Salford often apply for the Sallie Mae Smart Option Student Loan. Please follow the link for more information https://www.salliemae.com/

If you apply for a private study loan, you must email usloans@salford.ac.uk  to confirm the amount of loan that you require. Loans can only be disbursed after you have enrolled on an eligible course at the University of Salford.

The maximum amount you can borrow will be calculated as the University's Cost of Attendance (COA) less any Expected Financial Aid (EFA) which includes bursaries, scholarships, grants and awards. Veterans Affairs (VA) Benefits are not included as aid.  You will complete this as part of your application.

Rules are different for foreign schools, so please read the information before proceeding to the application instruction webpage.  We will try to make it as easy for you as possible, but there are no shortcuts and you must follow the steps below carefully.

Each student must first complete the Free Application for Federal Student Aid (FAFSA)

FAFSA applications can be completed online the US Department of Education’s FAFSA website https://studentaid.ed.gov/sa/fafsa.

Once you have completed the FAFSA, this will generate a Student Aid Report (SAR). You must enter The University of Salford’s School Code G09006 in order for Salford to have access to your SAR.  You may be told the school will receive this, but this does not work for foreign/non US schools.

If you have not firmly accepted an unconditional offer to study at the University of Salford, then you cannot proceed with your application. Applications cannot be submitted before 1st June so you should not follow the steps until you can submit your application as your credit check is only valid for a limited time.

Please email usloans@salford.ac.uk to advise you are applying for a US Loan and we will ask that your deposit fee is waived fo that you can firmly accept your unconditional offer.

 

Application Process

It is essential that you print out the Application Loan Flowchart

before proceeding as it contains the full instructions and you will need to read it carefully and refer to them at each step.

YOU MUST FOLLOW THESE STEPS IN THE CORRECT ORDER AS EXPLAINED ON THE FLOWCHART IF YOU FAIL TO PROVIDE ALL OF THE REQUESTED DOCUMENTS THEN YOUR LOAN APPLICATION CANNOT BE PROCESSED.

There are 6 steps to your application:

Each student must first complete the Free Application for Federal Student Aid (FAFSA). FAFSA applications can be completed online via the US Department of Education’s FAFSA website https://studentaid.ed.gov/sa/fafsa.

Salford’s School Code is G09006.

PLEASE DO NOT PROCEED TO THE NEXT STEPS UNTIL YOU HAVE FIRMLY ACCEPTED AN UNCONDITIONAL OFFER. APPLICATIONS CANNOT BE SUBMITTED TO SALFORD BEFORE 1st JUNE.

You should not follow the next steps until you can actually submit your application as your credit check is only valid for a limited time.

If you have firmly accepted an unconditional offer then you can complete your Federal Direct Loan and PLUS loan applications by e-signing your Master Promissory Note (MPN) at the US Department of Education’s Student Loans website https://studentloans.gov/myDirectLoan/index.action. You must e-sign a new MPN for each loan you take at a foreign school as the multiple loan feature of the MPN only applies to loans whilst studying at US Schools.

Save your MPN(s) – you will need to send them to us.

The PLUS loan requires a credit check, so a screen shot showing acceptance is also required or a PDF of the credit acceptance letter. If credit is declined then you will need an endorser to take a Credit Check (remember to include screenshot of their acceptance or credit acceptance letter) and you must also include Endorser’s Addendum.

As the credit check is only valid for 90 days, please do not complete it until just before you are ready to submit your application to The University of Salford. The opening date is 1st June.

It is a Federal requirement that any US student who receives a Federal Loan should first complete the Entrance Counselling at the US Department of Education’s Student Loans website https://studentloans.gov/myDirectLoan/index.action.   Remember that you will be required to take a screen shot or attach the completion certificate to your email application.

The University of Salford require that you complete the counselling each academic year even if you have had a Federal Loan previously.

Follow the link to complete a Cost of attendance form. Your Cost of Attendance (COA) will be determined by adding an amount for living and study costs to your tuition fees. The maximum amount you can borrow will be your COA less any Expected Financial Aid (EFA). Please complete ONLY the “Cost of Attendance” tab and save the file.  You will have to email your COA to us as part of your application. There is a checklist tab included within the COA form to help you ensure that you have completed steps 1-4 fully before attempting to submit your application.

Email all your documents as attachments to usloans@salford.ac.uk with subject header “US Loan Application Documents” followed by your name, and your current postal address in the body of your email.  Please also advise in your email which course you will be studying.

The Checklist in the Cost of Attendance spreadsheet has the full list of documents to attach. 

Every application email should have the following attached:

  • Cost of Attendance spreadsheet
  • Screenshot of Entrance Counselling
  • Federal Direct Loan MPN,
  • and, if taking a PLUS Loan must also include:
  • PLUS MPN
  • PLUS credit check acceptance (screenshot or PDF of letter)
  • SAR

Remember to include your postal contact address in the email so we can send a letter confirming your Direct Loans that you can use for your visa application. For more information about applying for a visa, please see https://www.gov.uk/tier-4-general-visa.

You cannot apply for your visa more than 3 months before the start of term. Provided you have met the conditions of your offer, you are welcome to send in your completed loan applications from 1st June.

From 1st July, which is the earliest date that we can originate loans for 2017-18, we aim to process your completed application within 2 weeks of receipt. Please allow at least 2 weeks for the confirmation of Direct Loans letter for your visa to arrive by Airmail, but unfortunately we cannot guarantee delivery. Ideally, we should receive your completed application by the end of July so that you could receive this loan letter within the time needed for your visa application.

You will be emailed confirmation that your loan has been originated and your visa letter has been sent to the address provided.

Incomplete applications cannot be processed, so please ensure you have completed each step correctly and provided all requested documents to avoid delays.

All Federal Loans will be disbursed directly to The University of Salford in three equal instalments for all students on:

  • 13 September 2017
  • 10 January 2018
  • 11 April 2018

Please ensure that you have sufficient funds to cover your expenditure until you receive the refunded portion of your loan for study and living expenses after fees have been deducted.

**Please open your UK bank account immediately after enrolment so you can provide Income and Treasury with your bank account details in order to receive your loan funds after fees have been deducted.    

IF YOUR LOAN DOES NOT COVER YOUR FEES, IT IS YOUR RESPONSIBILITY TO ENSURE ALL YOUR FEES ARE PAID BY THE DUE DATE. 

Each loan instalment is in USD.  As the exchange rate will be different on each disbursement date, each loan instalment will be a different amount after it has been converted from USD to GBP.  Your tuition fee will be taken in three instalments once we have received your disbursement.

You will only get one third of your loans each term, this is a USDE regulation, there are deductions taken from that value.

Before we make your second and third disbursement we will require certain information from you. We will ask for proof of your attendance (for UKVI purposes you should be signing in weekly to lectures), as well as proof that you are making satisfactory academic progress, as specified in University Policy. You will be advised of this by email in November and again at the end of February/early March.

The government deducts an 'Origination Fee' from each disbursement. The spreadsheet you completed at application showed how much you can borrow and how much you actually receive after the government deducts an 'Origination Fee' from each loan disbursement. The value you are going to receive is shown on the letter sent to you by the University of Salford when we originated your loan.

The money is transferred to the UK and converted into £sterling. The school is not allowed to charge any fee or receive any commission for processing your loan, so the money received by you is exactly what the school received in £sterling.

What if I need to take time out or withdraw from my studies?

Unless this is a short term period of authorised absence (leave of absence) any period of time out will affect payment of further awards. You should notify usloans@salford.ac.uk immediately of any intention to either take time out or withdraw from your studies.

Information on suspending your studies or withdrawing can be found here, please read this in full.

Enrolment status and other changes

It is important to keep your loan servicer and the US Loans Administrator (usloans@salford.ac.uk) informed of any changes in your status, so that your loan information is up-to-date.  This is your responsibility.

  • You must notify the loan servicer and the US Loans Administrator if you:
  • Change your local address, permanent address or telephone number,
  • Change your name (for example, maiden name to married name),
  • Do not enrol at least half-time for the loan period certified by the school,
  • Do not enrol at the school that certified your loan,
  • Stop attending school or drop below half-time enrolment,
  • Transfer from one school to another school, or
  • Graduate

Until you graduate or leave school, you must also keep your school’s US Loans Administrator informed of these changes (usloans@salford.ac.uk).

Where can I find more information?

The US Department of Education website http://www.ed.gov/ or email usloans@salford.ac.uk

In addition, the following can provide more information on Federal Loans: Financial Aid Resource Publications from the U.S. Department of Education website https://studentaid.ed.gov/sa/resources#funding.

The University of Salford Consumer Disclosures for US Federal Loans can be found here