United States Loans
City, University of London participates in the William D. Ford Federal Direct Loan Program (Direct Loans) which can provide funding to cover your tuition fees and living expenses, subject to approval by the Student Centre. Funds are available through Direct subsidized (undergraduates only), unsubsidized and plus loans. Please note that graduate students are not entitled to subsidized loans. For further general information including interest rates and terms please see the Direct Loans website.
When we process FAFSA forms for an academic year, priority is given to students who have firmly accepted an unconditional offer for a place at City. If you have filled out a FAFSA form for City and haven't heard from us then please email email@example.com
2. When you have accepted your offer of a place on a course, City, University of London will contact you and confirm your Direct Loan entitlement - this is determined by calculating your Cost of Attendance, details of which you can see below.
3. You will then need to complete the following:
- Entrance counselling
- Master Promissory Notes for each loan (one for the subsidized/unsubsidized and another for the Graduate/Parent Plus Loan).
- Credit Check (Plus Loan applicants only).
- Male applicants must have signed up for selective service in order to be eligible for Direct Loans.
Please download the US Loan Process Guide for more information on how we administer Direct Loans. A paper copy of this and all US Loan information can be made available upon request.
Your US Loan will be disbursed to you in 3 equal disbursements - in September, January and April. Tuition fees are deducted automatically from your loan disbursement - unless you stipulate otherwise - and then the remainder will come to you in the form of a cheque for living expenses.
Please be aware that cheques can take a few days to clear in your bank account so we would advise you to prepare adequately for this eventuality, especially as there will be origination costs in setting yourself up in London.
Student Loan Information Published by the U.S. Department of Education
Prior to any origination of Stafford Loans, all applicants are required to submit a digitally signed copy of the 8-page Stafford Loan Master Promissory Note, which contains information about the rights and responsibilities of students and schools under Title IV, HEA loan programs.
Prior to any origination of Stafford Loans all applicants are required to submit a proof of completion of Entrance Counselling conducted on the Studentloans.gov website. The counselling procedure contains information about the rights and responsibilities of students and schools under Title IV, HEA loan programs.
Prior to any origination of GRAD Plus or PARENT PLUS Loans, all applicants are required to submit a digitally signed copy of the 10-page Plus Loan Master Promissory Note, which contains information about the rights and responsibilities of students and schools under Title IV, HEA loan programs.
Prior to any origination of GRAD PLUS all applicants are required to submit a proof of completion of Entrance Counselling conducted on the Studentloans.gov website. The counselling procedure contains information about the rights and responsibilities of students and schools under Title IV, HEA loan programs.
Students can contact Waqas Ali for more information about the borrower's rights and responsibilities or the terms and conditions of the loan.
Cost of Attendance (CoA) for 2017/18
The Cost of Attendance (CoA) is the amount of money per academic year that a student needs to pay their tuition fees, living expenses and course materials.
Tuition fees are covered in your CoA. On top of this, for Postgraduate students (52 weeks) the costs for living expenses and course materials are up to a maximum of £24,196.
For Undergraduate students (39 weeks) the costs for living expenses and course materials are a maximum of £19,140. Most students will need a combination of loans (Subsidized/Unsubsidized and Plus loans) to cover the full CoA.
Tuition fees do not include fees for books and course supplies, this has been factored into your Cost of Attendance calculation separately. For specific information about the additional costs for a program in which you are enrolled, please visit the course page.
The following formulas are used to calculate loan entitlements:
|Direct Subsidized Loan eligibility (undergraduates only)||= CoA - (EFC + EFA)*|
|Direct Unsubsidized Loan eligibility||= CoA - EFA (inc. Direct Subsidized Loan)*|
|Direct Plus Loan eligibility||= CoA - EFA (inc. Direct Subsidized, Unsubsidized and any other expected funding)|
Itemized Cost of Attendance - Weekly breakdown
|-Travel around London (excl. flights)||£32|
|-Food and Household Expenses||£65|
|-Course Materials (textbooks etc)||£15|
|-One off set up fees (accommodation deposit etc)||£24|
|-International Flights (return tickets x2)||£1,500 per year|
|-Visa Application||£322 per year|
|-PC/Printer||£800 per year|
|-NHS International Fee (For First Years only)||£150 x years of your course|
Paying your tuition fees
Tuition fees are due to be paid in three instalments, the first of which is due at the point of registration when you register on the course during Welcome Week, so having the loans in place over the summer is recommended. Tuition fees are paid automatically through your US Loan disbursement, with the remaining funds made available to you as a cheque for living expenses. Additionally, you may need to have these loans in place to apply for your Student Visa. We can send you a Proof of Loans Letter to show proof of the loans being in place. Please visit our International Student Advice page if you need more information about visa issues.
Interest Rates and Repayment
Please visit The Federal Student Aid website for details on current interest rates for Direct Loans, which are included in the terms of your loan.
Please visit the Repayment Section of the above website in order to view some sample repayment plans, to give yourself a good idea of the requirements you will have to meet when your loan goes into repayment after you complete/leave your studies. The website also contains sample monthly repayment amounts.
Borrowers of unsubsidised loans have the option of paying interest while still in their studies at City.
The borrower must repay the full amount of the loan regardless of whether the borrower completes the program, is unable to obtain employment upon completion, or is otherwise dissatisfied with or does not receive the educational or other services the borrower has purchased from the City.
If a student falls into default on any of their previous loans, they will be ineligible for any further financial aid, until they have rectified their default status.
Here is a helpful guide on consolidating loans after you graduate.
From 1st October 2016 the U.S. Department of Education applies a 1.069% fee charge on Direct Subsidized and Unsubsidized loans, 4.276% on Direct Plus loans. This only occurs with loans where the first disbursement is after October 1st 2016.
City, University of London does not charge any loan fees, City's third party agent Western Union, acts on our behalf receiving the US$ loan funds and converts this into the equivalent GBP according to the daily exchange rate.
Costs Of Attendance cannot be altered due to fluctuating exchange rates. Students are asked to prepare adequately for a study period spent in a foreign country where disbursements of loan funds can change depending on the exchange rate between Dollars $ and Sterling £.
Students on any program based in the U.S, any unit of a program based in the U.S, on study leave based in the U.S, are not eligible for Direct Loans. This is non-negotiable and is a regulation set by the U.S Department of Education not City, University of London. Not all City programs are eligible for Direct Loans; this includes non-degree courses (e.g. diploma courses) and courses offered at overseas sites, although the following courses are now eligible.
- Bar Professional Training Course
- Legal Practice Course
- Graduate Diploma in Law
- Speech and Language Therapy Postgraduate Diploma
For more information about the Gainful Employment statistics of these courses, please visit the course pages. This information can be provided to you in paper form upon request.
Students on Nursing courses at City are also not eligible for Direct Loans.
Any conviction for any offence, during a period of enrolment for which the student is receiving Title IV, HEA Program Funds, under any federal or state law involving the possession or sale of illegal drugs will result in the loss of eligibility for any Title IV, HEA Grant, Loan or Work-Study Assistance. This information will be provided to you upon enrolment in a separate notice.
Requirements from Financial Aid Staff at City, University of London
Before your loan can be processed by the University:
You must have received and accepted an unconditional offer of admission or already be enrolled as a student at City, University of London.
You should email your original Student Aid Report for the relevant academic year to Waqas Ali. Please take a copy of your SAR before submitting it. Although you may be informed that your SAR has been sent to City, University of London electronically, please note this service is NOT available to FOREIGN SCHOOLS.
In addition, please ensure you attach and send the following applicable confirmations before we are able to apply for your loans and you must also complete the exit counselling at the end of your programme – whether on completion or withdrawal from your studies;
- Credit Check (Required for PLUS Loans – apply in FSA portal)
- Entrance Counselling (Required for both loans – apply in FSA portal)
- Master Promissory Note – Stafford (Required for Unsubsidized loan – apply in FSA portal)
- Master Promissory Note – Plus (Required for PLUS Loans – apply in FSA portal)
For More Information
Please visit The Online Schools Guide for more information about US Loans.
City's representative in charge of US Loans processing is Waqas Ali. He can be reached at Funding@city.ac.uk or on (020) 7040 7040 - option 2.
For information on Disability Support at City, which contains information about the facilities and services available to students with disabilities, including students with intellectual disabilities, please visit our Learning Support Page.
City does not have a vaccination policy.
City does not offer any athletically related student aid.
The U.S. Department of Education stipulates that the following regulations apply:
Satisfactory Academic Progress Review
You must be in good standing and maintain Satisfactory Academic Progress each term according to City, University of London's Academic Regulations. A Satisfactory Academic Progress review form must be completed, stamped and returned by your tutor before both the second and third disbursements. Please note loans will not be requested for the spring or summer terms unless a completed form is returned to the Financial Support Team.
Failure to abide by this regulation will result in the cancellation of any remaining loan disbursements, and a return of unearned awarded funds should you withdraw.
All US Loan students are expected to maintain satisfactory progression through their course of study. Enquiries will be made with the Department to check they are progressing towards a good pass in the required time frame and verify attendance before the second and third disbursements are due. No Progress confirmation is required for the first disbursement for a student's programme of study.
This evaluation process will consider the student's progress as per the requirements stipulated in the assessment manuals applicable to their degree and level. The expectation is that students should pass their course at a Grade C or above to confirm satisfactory progression (City translates a Grade C as 50%). Students not fulfilling this requirement will be given one term on probation in order to satisfy this requirement. If after this probation period they do not meet the requirement, the student will lose their entitlement to US Direct Loans
Students are expected to be in attendance at City and remain above half-time status. Students may not receive aid once they have taken more than 150% of the normal duration of the program to complete their studies at full-time status or the part-time equivalent. This applies to both Undergraduate and Graduate students. Periods of interruption will not count towards this calculation.
If it is stated by the department that the student is not attending at least 50%, or time put into the research is felt by the department not to be equal to 50% or above, Financial Aid will be suspended. If the student meets the requirements for progression on the course of study they will be placed in good standing for financial aid.
Appeals can be made against Financial Aid Warnings to the Financial Support Team who will consider all extenuating circumstances. All decisions made by the Financial Support Team are final.
If a student's appeal against suspension is successful then the student's good standing will be placed on probation for the payment period.
Students that have exceeded the 150% time limit on their programme cannot receive Federal Aid and cannot be reinstated at any point.
City will not accept any transfer of credit earned at another institution. We also have no articulation agreement with any other institution.
For information on the City's copyright policy, please visit here. Unauthorised distribution of copyrighted materials, including unauthorised peer-to-peer file sharing, may subject the student to civil and criminal liabilities.
Entrance and Exit Counseling
Entrance and Exit Counseling must be completed at the appropriate times. All new students must complete entrance counseling prior to any funds being requested from the U.S. Department of Education by City, University of London.
All students must also complete exit counseling in their last term of the academic year at City. If students withdraw early from their program, they must complete exit counseling and any unearned funding must be returned to the U.S. Department of Education.
Programs/Study Periods based in the U.S.
Any student on a program based in the U.S. will not be eligible for Direct Loans. Any unit of a program based in the U.S. for that duration, will make the program ineligible for Direct Loans. Graduate research students on study leave based in the U.S. are not eligible for Direct Loans.
In addition, any course where there is a required module to take place at an institution other than City, where City staff are not directly assessing a student's work, will make the course ineligible for US Direct Loans.
Electronic courses and any distance learning courses are also not eligible courses for Direct Loans.
Enrolment in a program at City which constitutes a study/program abroad approved by another institution and approved for credit by that home school, may be considered enrolment in the home school for purposes of applying for federal student financial aid. Any student enrolled on such a program should contact their home school for financial aid, and not City.
Students must complete their program within a time frame of no longer than 150% of the published length of the course. We will be unable to grant any loan that would mean the students exceed this time frame.
Changes to Enrolment Status
If your enrolment status changes (e.g. from full-time to half-time) you will need to inform the Student Centre. This will affect your loan eligibility and we will need to re-calculate your Cost of Attendance based on your new student status. If students withdraw early from their program, they must complete exit counseling and any unearned funding must be returned to the U.S. Department of Education according to their guidelines. Half-Time status is defined as attending classes to at least a part-time status based on City's attendance status guidelines. If a student falls below half-time status, then they will become ineligible for student aid, and their loans will enter a period of repayment after the statutory grace period has ended.
Please contact the Financial Support team on Funding@city.ac.uk if you withdraw from your studies, so that we can notify your lenders.
Withdrawals and Refunds
Please visit here for the City's Refund Policy. This refund policy does not extend to students who have taken out Federal Financial Aid through the Direct Loans programme. Information about the procedure for US Loan students can be found below.
If you wish to withdraw from your course, please contact your Course Officer in your school. You will need to notify them before any withdrawal procedure can be started.
If a student who receives Title IV funding withdraws, interrupts for more than 180 days or drops below half time attendance then City City will follow the requirements of returning funds laid down by the US Dept of Education. This will be applied alongside the School's withdrawal and refund policy. The Financial Support Team will use RT24 (Return of funds calculator provided by the US Department of Education) to determine how much of the loan may be retained and how much must be returned.
Return of Funds by City
A student ‘earns’ aid on a daily basis and therefore if a student withdraws any ‘unearned’ aid for that payment period will need to be returned to your US Department of Education. Once the amount the City and the student needs to return has been calculated the required amount due from the City will be sent to the US Department of Education and the student notified if they need to return any funds.
Loans are returned in the following order:
Loans are returned in the following order:
- Unsubsidised Stafford
- Subsidised Stafford
- PLUS (Graduate or Parent)
There are some Title IV funds that students may have been scheduled to receive that cannot be earned once a student withdraws because of other eligibility requirements. For example, in certain circumstances, if a first-time, first-year undergraduate student has not completed the first 30 days of the program before withdrawal, the student will not earn any FFEL loan funds that he or she would have received had the student remained enrolled past the 30th day.
A first year undergraduate, receiving Aid for the first time who withdraws within the first 30 days of a programme will be deemed not to have earned any aid.
As this policy uses a different calculation to City withdrawal policy it may mean that the student owes City once the money has been returned to the lender. Students will be notified if this is the case.
Return of Funds by the Student
If the student is notified that there are loan funds that must be returned (by the student) the student should repay in accordance with the terms of the promissory note. That is, scheduled payments are made to the holder of the loan over a period of time. Students who have received a refund of their loan proceeds before withdrawing may be required to return part or all of those funds to the lender.
Approved Leave of Absence
If a student interrupts their studies it is important that they also speak to Waqas Ali, Financial Support Adviser in order for the correct loan status to be determined.
An Approved Interruption can last for 180 days before a student goes into repayment or has to return funds. If the student does not return after 180 days the last date of actual attendance will be used to calculate the the ‘earned’ loan amount and the date a student enters repayment.
If you have any questions regarding this please email Funding@city.ac.uk quoting RT24 Query in the email subject field.
Students are required to inform the Student Centre of any additional funding (expected or received) before and after their student loan entitlement is calculated, as this can affect your Cost of Attendance. Please email us with any such information.
Students can look up what funding is available on our International Students Funding page on our website.
Borrowers' Right to Cancel
Students will be notified by email before each loan disbursement is requested, and have 14 days to change/cancel any expected loan disbursements. After this period has expired students will be responsible for returning any unwanted funds to either the U.S. Department of Education or the Loan Servicer.
National Student Loan Data System
Should you take out a federal loan while a student at City, information about your loan and attendance status will be provided to the National Student Loan Data System.
City Retention Rates
For information on Retention rates, completion or graduate rates, placement in employment rates and types of graduate and professional education in which the school's graduates enroll, please click on the link below.
Family Educational Rights and Privacy Act
Information about disclosures made in relation to the FERPA (Family Educational Rights and Privacy Act) is contained in the award letter that is sent to you before any Direct Loan is set up in your name. City will not disclose the information described in the award letter without your written consent.
City may disclose personally identifiable information without student consent, but only to the following parties:
- City officials with legitimate educational interests.
- U.S. Comptroller General, U.S. Attorney General, U.S. Department of Education.
- State and local officials
- Authorized organizations conducting educational research.
- Accrediting Agencies
- Alleged victim of a crime
- Parent of a Dependent Student as defined by the IRS.
- Parent of a student under 21 regarding the violation of a law regarding alcohol or drug abuse.
In contrast to the exceptions to the notification and record-keeping requirements granted for law enforcement purposes, City may disclose information pursuant to any other court order or lawfully issues subpoena but will make a reasonable effort to notify the parent or eligible student of the order of subpoena in advance of this compliance, so that the student or parent may seek protective action (unless the court or issuing agency has prohibited such disclosure).
The Student's health records will be kept private and protected, and only disclosed if the student has given express written consent for such a disclosure outside of signing the award letter, this will only occur if the health record is construed to be an educational record (ie. when it is used to make a decision in regard to a student's educational program such as in matters of whether a student should receive extended time for testing; or be exempt from an academic requirement etc). This disclosure will incorporate only the types of disclosure as described in your award letter (i.e. only relating to your studies and attendance status). City will only disclose personally identifiable information from an education record to appropriate parties in connection with an emergency if knowledge of the information is necessary to protect the health or safety of the student or other individuals.
More information about FERPA can be found here.
If you are enrolled in full/half-time study, you can defer payment of your outstanding student loans. Using the online National Student Loans Data System (NSLDS) we are able to update your status with your lenders, or servicers of your previous loans. Please email Funding@city.ac.uk in order to request this be done for you.
Please note that we are unable to update your education status unless you have started your course at City. If you have not taken out a Federal Direct Loan as part of your studies at City, we will need to see proof that you have taken one out in the past, before we can update your status.
This online process has replaced the need for paper in-school deferment forms.
Your loan will be submitted to the National Student Loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders, and schools determined to be authorised users of the data system.
These are student loans for provided by a private, non-federal, lenders. There are many US private lenders but very few will lend to students studying outside the US. You can check if your state has a non-federal student loans agency which can lend to students abroad. A private company which US students studying at City have used recently is Sallie Mae.
City has no affiliation with and receives no financial incentives from Sallie Mae or any other private lender. City does not endorse any Private Education Loan provider located in the United States who offer loans for study at Foreign Schools. At the date of publication only one Private Education Provider issues loans to Foreign Schools, Sallie Mae. City will certify loans from Sallie Mae, but only when a certification request is received from Sallie Mae, and only when a student has been assessed for a Cost of Attendance calculation by City.
City does not:
- have any revenue-sharing arrangements with any lender
- accept gifts from a lender, guarantor or loan service
- have any contracting arrangement providing financial benefit from any lender or affiliate of a lender
- direct borrowers to particular lenders, or refuse or delay loan certifications
- offer funds for private loans
- offer any staffing assistance to lenders or loan servicers
- offer any advisory board compensation
- have any preferred lender
Any reference to Sallie Mae on City communications does not represent the existence of a preferred lender; merely that it is a lender. In the event that other companies decide to offer loans to US students studying overseas, they will be given equal visibility.
Our role in the private loans process is to confirm your Cost of Attendance and certify your enrolment. A copy of your loan certification form will be available from us on request.
Note that private student loans are still limited to your Cost of Attendance similar to Direct Loans. You are allowed to hold both types of loans but the total cannot exceed your Cost of Attendance.
Please email us if you wish to have a Sallie Mae loan approved by City, University of London. City cannot approve any Sallie Mae loan that would take the student above the set cost of attendance.
The Sallie Mae website here can provide more information on taking out a private loan, including what interest rates and eligibility criteria that are involved.
Please note that the prospective borrower may still qualify for loans or other assistance under the Title IV, HEA programs. The terms and conditions of the Title IV, HEA program loans may be more favourable than the provisions of the private education loans - the student/borrower is encouraged to examine the conditions of both loans to make an informed decision. Please visit the Department of Education website for more information.
If you wish to apply for a private loan to fund your studies, City can provide the self-certification form to you upon request. This can be provided in both written and electronic forms. We can also provide information to help you complete the form, to the extent that City possesses the information. Please email Funding@city.ac.uk in order to request this form.
Veteran Affairs Funding
We are able to administer Veterans funding for the Post 9/11 GI Bill.
If you served on Active Duty, you might be eligible for education benefits offered by the Department of Veteran Affairs. For example, the Post-9/11 GI Bill provides financial support for educational and housing expenses to individuals with at least 90 days of aggregate service after September 10, 2001, or individuals discharged with a service connected disability after 30 days. You must have received an honourable discharge to be eligible for the Post-9/11 GI Bill.
If you are currently serving in the military, you may be eligible for funding offered through the Department of Defense Tuition Assistance program. Check your eligibility status and the amount for which you qualify with your Service prior to enrolling.
If you are the spouse or child of a service member who is serving on acting duty Title 10 orders in the paygrades of E1-E5, 01-02, or W1-W2, you may be eligible for financial assistance from the Department of Defense for education, training, and/or the occupational license and credentials necessary for a portable career.
If you are the spouse of child of a service member, you may be eligible for transfer for the service members' Post-9/11 GI Bill benefits to you. Please contact Veteran Affairs to discuss your case to see if you are eligible.
Because the approval process for new City courses to be certified by Veteran Affairs takes up to six months, please contact us as early as possible in order to see if your prospective course will need to be certified. Once students have been approved for VA funding checks are sent to City to pay for tuition fees. VA Funds can be awarded retroactively if a course has not been approved before enrolment.
If you wish to apply for the Post-9/11 GI Bill funding please contact us in order to declare your involvement in Veteran Affairs Funding, including the following information: your full name, date of birth (MM/DD/YY), social security number, permanent address and full title of program at City. You can send us your social security number split into two separate emails if you prefer.
We do not take part in the Yellow Ribbon Program.
The point of contact at City for service members, veterans and family members is Waqas Ali. If you have any questions about appropriate academic counselling, financial aid counselling, and student support services at City, please feel free to contact Waqas Ali on Waqas.Ali@city.ac.uk or by phone on (020) 7040 7040.