US Loans
UPDATE: We are now accepting FAFSA reports for the 2012/13 academic year. The processing of these reports will begin from late April, at which point you will be contacted regarding your loan. Please see the side menu below for more information on the process of how we administer US Federal Student Aid.
If you are a US National and have been given an offer at City University London, you may be able to use Federal Student Loans to fund your studies here at City, as we are a participating Title 4 institution for the purposes of Direct Loans. This loan consists of Stafford (subsidised and unsubsidised) loans and PLUS loans (Grad Plus or Parent Plus). After June 2012 Postgraduate students will only be eligible for unsubsidised Stafford Loans as well as PLUS loans. Interest rates for these loans can be found at www.studentloans.gov.
Visit studentloans.gov to ensure that you have completed the initial elements of your Federal Direct Loan application:
- Viewing loan history
- Link to FAFSA to apply for your Student Aid Report
- Entrance Counselling
- Signing Promissory Notes.
Other Information
The maximum amount that you are eligible to take out as a loan per year will be your 'Cost of Attendance', which we calculate as your tuition fees plus £17,680 for living costs (converted into $US on the day of loan certification). Please note that living costs include a return flight and a basic laptop. Fees charged in the US for your loans will also be added to your loan limits: 1% for Stafford Loans and 4% for Plus Loans. Fluctuations to exchange rates cannot be used to change the cost of attendance.
Tuition fees are due to be paid in two installments, the first of which is due at the point of registration when you join the course, so having the loans in place over the Summer is recommended. Additionally, you may need to have these loans in place to apply for your Student VISA. Please visit our page on International Student Advice if you need more information about VISA issues.
Please note that at this time students studying on courses that are awarded by City University but not taught in London are not eligible to take out Federal Student Loans at this institution. This includes but is not exclusive to EMBAs in foreign countries.