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 City. 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 https://studentaid.ed.gov/sa/.
To apply for a US student loan at City please follow the instructions within the How to Apply section below.
Please see here for the US Direct Loan T&Cs.
See other Frequently Asked Questions.
Cost of Attendance (CoA) for 2020/21
The Cost of Attendance (CoA) is the amount of money per academic year that a student can apply for to pay their tuition fees, living costs and course materials.
The maximum full-time postgraduate living costs and course materials are capped at GBP 28,232 for 52 weeks. The maximum full-time undergraduate living costs and course materials are capped at GBP 21,836 for 39 weeks. Part-time students can apply for 50% of these weekly living and course material costs respectively.
Student visa application
Your US Loan will be disbursed in 3 equal disbursements - September, January and April. You are permitted to pay your tuition fees in three instalments at each disbursement of your student loan. Each terms’ tuition fees will be deducted from each of your student loan disbursement, the balance will be paid to you.
Follow steps 1 to 4 below:
1. Complete your Free Application for Federal Student Aid (FAFSA)
3. Download and complete the City Cost of Attendance calculator (excel spreadheet)
You will need:
- Your City student application number
- Your course tuition fee rate.
You will need:
- Your City student application number;
- A copy of your Master Promissory Note for each loan you wish to request;
- A screenshot of your Entrance Counselling session for each loan you wish to request,
- Documentation of the result of your Credit Check for the Grad Plus Loan;
- A copy of your Cost of Attendance Calculator;
- The value of the loans you wish to take out (this cannot exceed the Cost of Attendance);
- Your course tuition fee rate.
US student loan applications will be processed from 1st June 2020.
Eligible students will be issued with a Proof of Direct Loans Letter which can be used as evidence of student loans when applying for a UK student visa.
Students cannot apply for a UK student visa no more than three months before the start of their course. For information about applying for a student visa please contact the International Student Advice team.
Not all City courses are eligible for Direct Loans; these include, but is not limited to, non-degree programmes, distance learning programmes, programmes which are less than 50% of the full-time equivalent, programmes offered at non-City sites and courses based in the City Division of Nursing.
Students on any programme based in the U.S, any unit of a programme 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.
Only the following non-degree courses are eligible for Direct Loans:
- Bar Vocational Studies (BVS)*
- Legal Practice Course
- Graduate Diploma in Law and Speech
- Language Therapy Postgraduate Diploma.
*Note for students who opt for the Two- part option: Part One is online and Part Two is in class teaching. Students can only apply for a Direct Loan for Part Two.
For information about the Gainful Employment statistics of these courses, please visit the course pages.
Direct Loans cannot be used to pay your course deposit you are required to pay the deposit directly. Direct Loans will not be requested from the US Department of Education until students have completed registration at City. Further instructions on registration can be found here.
Direct Loans will be disbursed in three equal disbursements - September, January and May. You are allowed to pay your tuition fees in three instalments at each disbursement of your Direct Loan. A third of your tuition fees will be deducted from each of your Direct Loan disbursements.
Direct Loan Fees and Interest
City does not charge any loan fees, City's third-party agent Western Union Business Solutions, acts on our behalf receiving the Direct Loan funds in USD and converts funds into the equivalent GBP according to their daily exchange rate. The exchange rate fluctuates across the academic year, the Cost of Attendance cannot be increased to cover fluctuations in the exchange rate.
Entrance and Exit counselling
Entrance and Exit counselling sessions provide detailed information about the interest rates and repayment terms, further details are available on the studentaid website. These sessions are compulsory and must be completed before Direct Loans can be approved and during the last term of your course.
Reporting to the National Student Loans Data System
When students apply for Direct Loans, student enrolment, course start and end dates are reported to National Student Loans Data System (NSLDS) shortly after registration at City. NSLDS transfers this data to your lenders/loan servicer. Students who are not taking Direct Loans at City but wish to defer payment on their current US student loans please email email@example.com with your City student ID number and SSN.
Private student loans:
There are many US private student loan 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. Sallie Mae offer private student loans to eligible students. How to apply for a Sallie Mae loan to study at City:
Step one: calculate your Cost of Attendance using the Cost of Attendance Calculator
Step two: complete the City US Student Loan application form online.
Step three: Apply to Sallie Mae online
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. 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 services, offer any advisory board compensation, have any preferred lender.
US Veteran Affairs Funding
Eligible US veterans/or their dependants can use US Veteran Affairs funding to contribute towards the cost of tuition fees and living cost. For full information about the Post-9/11 GI Bill please visit the US Department of Veterans Affairs.
To apply for funding please email firstname.lastname@example.org including your full name, date of birth social security number, permanent address, City student number and course title.
Payment from the VA for tuition fees is issued by USD cheques in three instalments after the start of each term. Please forward a copy of your VA entitlement letter to the Income Team at email@example.com.