Aberystwyth University is recognised as a Foreign School by the US Department of Education and holds a Title IV Agreement. Our School Code is G08452, and our OPEID is 00845200.  Please note that although we are in the United Kingdom, our University is in Wales rather than England. This is reflected in the U.S. Department of Education's School Code list.

Ensure that you have been offered a place on a full-time degree course (Bachelor, Master or Doctoral) at Aberystwyth University before starting your loan application.

Applications for Bachelor's degree courses should be submitted via the UK's central admissions system for undergraduate courses - UCAS. Please contact our Undergraduate Admissions Office and visit the undergraduate pages for further information.

Applications for Master's degree courses and Doctoral programs should be submitted directly to the Postgraduate Admissions Office. 

We will advise on your estimated Cost of Attendance (COA). Please note that COA calculations will only be provided for those in receipt of a conditional offer for undergraduate or postgraduate study at Aberystwyth University.  You can borrow up to the value of your COA with a combination of Direct Loan, (Grad or Parent) PLUS loan and/or private loan.

Students on distance-learning courses, which are sometimes referred to as on-line programs, are not eligible for Federal Aid. They must opt for private loans.

Students receiving U.S. Federal Aid through a Foreign School must not study in the U.S. (i.e. part-time PhD students cannot receive aid if they are studying in the US and Masters students cannot return to the US over the summer months to complete their dissertation). The extension of U.S. Federal Direct Loan Program allows students to study outside of the U.S.  The calculation of the actual amount of Federal Aid  is based on the student pursuing their entire course at the specified Foreign School.

The actual Federal regulation states: "The Institution is authorized to participate in the U.S. Federal Student Aid Programs in order to provide U.S. students with access to financial assistance to receive postsecondary education outside of the United States. The Institution may not make available William D. Ford Federal Direct Loan (Direct Loan) Program funds to U.S. students who receive any portion of an educational program inside the United States. The Institution may not certify or disburse Direct Loan program funds under a "study abroad" or "student exchange" agreement for U.S. students to attend educational Institutions located in the United States.  However, as of July 1, 2011, independent research done by an individual student in the United States for not more than one academic year is permitted, if it is conducted during the dissertation phase of a doctoral program under the guidance of faculty, and the research can only be performed in a facility in the United States."

If this regulation is not adhered to then the whole program of study becomes invalid. Any Federal Aid received for the program would have to be returned. Please be aware that the University may take steps to recover any debts or losses from students as a result of them not adhering to this strict regulation. 

If you are a registered full-time student at Aberystwyth University, with previous US Federal loans outstanding, you can ask for re-payments to be deferred. You will be need to complete the relevant sections of an In-School Deferment From which will also be reviewed and, if approved, signed by the relevant member of staff within the Academic Registry Admissions Team.

The first step in applying for a Federal loan is to complete your FAFSA online to establish your eligibility. Visit www.fafsa.ed.gov . Further advice is available at https://studentloans.gov . Once completed, this will generate a Student Aid Report (SAR) and an ISIR (an electronic counterpart to the SAR).  You may receive a 2-page SAR receipt electronically but we have to check the ISIR.  It is this document that determines if you are eligible for Federal Aid, although there are several other checks and additional information required during the origination process.  We (the School) have to determine the amount of aid that you are eligible for within the limits set by the US Federal Government.  

For the Direct Loan program, the US Government is the Lender.  The student takes out a loan directly with the US Government. This is a secure and reliable source for loans and an efficient way of financing and administering the whole Federal loan provision. Foreign Schools, such as Aberystwyth University, originate the loans electronically on the US Government's systems. 

On each disbursement date, the US Government transfers all of the requested loan funds to the School who will then disburse the funds to the students. The first disbursement will be made shortly after registration and all subsequent payments made during the course of the year. Schools report student attendance and progress directly to the US Government on their NLSDS system on a regular basis (every 2 months) and also on an ad-hoc basis as soon as any changes to the student's registration occurs.

Some private companies are contracted by the US Government to service the loans made under the Direct Loan program.

You will have to apply for each type of loan (Direct and, where applicable, a Grad Plus loan) yourself for each academic year. For dependent undergraduate students, it is their parents who will have to take out a PLUS loan (i.e. a Parental Loan for Undergraduate Students). A separate MPN will be required for each loan. These may be paper or electronic MPN, although eMPNs are by far the preferred option. Please do not forget to complete an MPN for each loan you are applying for (i.e. an MPN for your Stafford loan and a separate MPN for a PLUS or Grad Plus loan if you are also taking out one of these). Please ensure that your MPN has been completed for the academic year that you'll be studying in.

For further information, please see the new Direct Loan website for students: studentloans.gov

Our University's policy of verifying the source of finances for all students ensures that students have adequate funds for their studies and that their payment plans may be integrated with the receipt of their funds. This is important for international students who require visas, for whom we provide a Notification of Student Loan letter at the end of the loans application process. We will be able to use the information for your Stafford, PLUS, Grad Plus and/or private loans as evidence of your finances. We will make additional copies of relevant documentation for this internal procedure for your admission onto your chosen degree course. This makes this part of our admissions process much easier.  You will require this as evidence of available funds when applying for your student visa to enter the UK.

The loan maximum amount limits will be noted on the Calculation of Cost of Attendance (Net Price Calculator) (e-mailed as a pdf). These will be determined by the type of student, cost of attendance (COA) and Expected Family Contribution (EFC). 

The Cost of Attendance (COA) is calculated on the sum of your tuition fees and your estimated living costs, but may be adjusted to account for any dependents and travel from your home to Aberystwyth. The estimated living costs are shown in GB Pound Sterling (£) but will be converted to US Dollars ($) using an on-line currency converter (www.oanda.com/currency/converter/). Please note however that currency exchange rates can fluctuate.

The currency exchange rate that will be used for calculating COA for 2021-2022 is £1.00 (GBP) = $1.400 (USD). This is in line with the rate that other UK universities who participate in the Federal Direct Loan Program will use. Loans may have to be adjusted at a later date should the exchange rate deviate significantly from the above estimated exchange rate. A decision on what exchange rate to use for the following year will be made at the end of May/beginning of June.  For this reason, no loans will be originated until June at the earliest. This still leaves sufficient time to apply for a student visa.

Your Estimated Family Contribution (EFC) will be noted on the top right hand corner of the first page of your SAR/ISIR.

If you have completed the above steps, you will receive a calculation of your COA by e-mail (from June onwards). You will then have to return the declaration/reply slip to specify which loans you want to take out and the exact amount of each loan, subject to regulatory limits. You will have 14 calendar days prior to each disbursement in which to cancel or reduce your disbursements. 

If this is your first loan, you must undertake Entrance Counseling. Your loan will not be originated unless you have done so. Even if you have obtained loans in the past, it is still advisable that you undertake Entrance Counseling. Avoiding Entrance Counseling online could result in your loan not being disbursed as it is an in built feature of the relevant U.S. Department of Education's database. Entrance Counseling is therefore strongly advised for all students.  Not only is it beneficial in the long term but it could avoid delays to your disbursements.

All students must undertake Exit Counseling before the completion of their course.

N.B. Please send confirmation that you have undertaken Exit Counseling to usloans@aber.ac.uk at the appropriate time. 

Please note that if you are on a 3 year programme and wish take out a loan for each of the 3 academic years, you only have to undertake the Exit Counseling once, towards the end of your course. 

Direct Loans are available to both undergraduate and postgraduate students. For undergraduate students, they are partly subsidised by the US Government.  Information about the fixed interest rates for these loans can be found at https://studentaid.ed.gov/sa/types/loans/interest-rates . For 2021-2022, these loans have a fixed interest rate set at 3.73% for undergraduate Direct Loans and 6.28% for postgraduate Direct loans.  For 2020-2021, a 1.062% Origination fee will be charged for all Direct loans. The maximum loan amounts differ for dependent undergraduates, independent graduates and graduate/professional students.  There are also aggregate lifetime maximum loan limits. Repayments are deferred whilst you are on the course, and typically begin 6 months after a student ceases to be enrolled at least "half-time".

If you have taken out the maximum value of Direct Loan, you can apply for a Grad Plus Loan to top-up your finances. Information about the fixed interest rates for these loans can be found at https://studentaid.ed.gov/sa/types/loans/interest-rates.  These loans have a fixed interest rate that is currently set at 6.28%. There will be a 4.248% Origination fee for 2021-2022. You do not need a parent to co-sign your Grad Plus application forms. Repayments are deferred whilst you are on the course but can be extended to 6 months after the student's enrollment drops to "less than half-time".  

Parents of dependent undergraduates students can take-out a Parent Plus loan to supplement the Direct Loan, subject to cost of attendance and credit rating. Information about the fixed interest rates for these loans can be found at https://studentaid.ed.gov/sa/types/loans/interest-rates. The fixed interest rate for these loans is currently set at 6.28%. There will be a 4.248% Origination fee for 2021-2022. Repayments start 60 days after the final disbursement (unless extended).

These may be used to supplement your Federal loans but only up to your maximum Cost of Attendance value, and will be subject to credit rating. You will probably be required to have a co-signer. These private loans are offered at commercial rates. The only lender that we know of that provides loans to study in the UK is SallieMae.

All loan funds will be sent to the designated US Dollar account that we hold with Western Union on the designated disbursement dates. We then receive the funds and allocate the appropriate amount to each student. We will subtract the relevant tuition fees, and if applicable, accommodation fees, from each disbursement before disbursing the remainder to you. 

Loan disbursements must be split into equal disbursements. For 2020-2021 we specify 2 disbursements for our students.

• Undergraduates: 12th October 2020 & 10 February 2021 [N.B. 9 month loan period] 
• Postgraduates: 12th October 2020 & 01 April 2021 [N.B. 12 month loan period]

Remember that if you are in you are a final-year undergraduate , or if you are a one-year Masters student, you must undertake Exit Counseling before the completion of your course.

• Undergraduates: 19th October 2021 & 15 February 2022 [N.B. 9 month loan period] 
• Postgraduates: 19th October 2021 & 05 April 2022 [N.B. 12 month loan period]

Remember that if you are in you are a final-year undergraduate , or if you are a one-year Masters student, you must undertake Exit Counseling before the completion of your course.

When opening a student bank account in the UK, you may be asked to provide proof that you are a student at Aberystwyth University.  This will be in the form of an Introduction to UK Banking Facilities Letter. Included in this letter will be your home and term time address taken from your Student Record. You will need to make sure that the University has your correct address details.  Information on how to request a Letter of Introduction to UK Banking Facilities is available from the Academic Registry website.

If your loan disbursement amount is greater than the amount that must be paid to the university for tuition, and accommodation fees (if applicable),  the remaining monies will be paid directly to you.  Disbursements to you will be paid directly into your UK bank account and you will need to provide the Fees Office with your bank details (sort code and account number).  We aim to make any payments into your UK account within 10 working days of the disbursement dates noted above. You must ensure that you have sufficient funds (e.g. cash, credit card) to cover your living costs for both your journey to Aberystwyth and a further 4 weeks after your arrival.

N.B. Different disbursement dates will apply to PhD and MPhil students who start at other times of the year. The loans are for study outside of the US. Study in the US is not permitted and would invalidate their programme, requiring their the entire loan be repaid.   

N.B. Masters students who return home to the US for dissertation element of their programme (June to September) will not receive further disbursements of their loans. Doing this would invalidate the programme, meaning that their entire loan would have to be repaid. 

N.B. Students must be in Aberystwyth to receive such loans as this is dependent upon satisfactory attendance (min. 50%) and satisfactory academic progress. 

Please note that these disbursement dates are the dates that the US Government will send funds to the University. These funds can take up to 3 working days to clear. 

The University's Fees Office, which is located in the Student Welcome Centre, deal with your actual loan disbursements. A proportion of each disbursement will be taken to pay for tuition fees (and if applicable University accommodation fees) and the remainder will be disbursed to you, the student. This is convenient for you, and also conforms to Federal audit regulations. Please note that the Fees Office only deals with the disbursement of funds not the origination of loans. You can only receive disbursements after you have registered as a student at Aberystwyth University.

i) Annual Direct Loan Limits for 2020-2021 and 2021-2022

* N.B.  Postgraduate/professional students are not eligible for the subsidised Direct loan. They may borrow the full amount of $20,500 as an unsubsidised loan. 

ii) Maximum Aggregate Federal Loan Limits for 2020-2021 and 2021-2022

The required proof of your funds will be issued to you by Aberystwyth University after your loan has been approved and originated.  You will be able to use this, together with the letter of acceptance from the University, the CAS number issued by the University, our University's Sponsor's License Number, and proof of your qualifications, to apply for your (adult) UK Student Visa.  further information about this process can be found at https://www.gov.uk/student-visa.   

N.B.  the dates specified on your CAS will be as follows:

• Bachelors students: 3 or 4 academic years (dependent on the length of the programme) to 30th June (final year)
• Masters students: 1 calendar year to 30th September (N.B. Applicable to taught Masters and MPhil students)
• PhD students: 4 calendar years from date of commencement (the UK Visas & Immigration would be informed of early completion)

N.B. Aberystwyth University can issues CASs 3 months before the proposed course start date. Students can only submit their visa applications using their CAS within a 90-day period before their proposed course start date.

Your eligibility of both Federal and private loans is dependent upon your continued registration, attendance and active participation in an eligible degree programme at Aberystwyth University.  If there is any change to your circumstances, e.g. temporary or permanent withdrawal, extensions.etc. you must immediately inform both the Students Records Office (Academic Registry) at our University, and usloans@aber.ac.uk. If you leave the programme of study, even temporarily, you will have to repay part or all of your loan. US Federal regulations specify that the student must complete their programme within 150% of the published length of that programme.

Satisfactory Academic Progress (SAP) for the purposes of US Federal Loans will be defined by the relevant regulations of the University: 

Undergraduate Bachelors and Undergraduate Masters Students 

Postgraduate Taught Masters (MA/LLM/MSc/MRes) Students       See also Code of Practice for Taught Postgraduates

Postgraduate Research Masters (MPhil/LLM by Research) Students      See also Code of Practice for Research Postgraduates

Doctoral (PhD) Students              See also Code of Practice for Research Postgraduates

In all of the above cases, the student must demonstrate Satisfactory Academic Progress. If not, they may be placed on probation for financial aid. If progress is still not made, financial aid may be withdrawn. It should also be stressed that poor attendance will result in the University reporting to UK Visas and Immigration (UKVI), and may result  in the student's visa being revoked.

Any appeals against a decision to suspend financial aid have to be made in writing to Helen Hayes (Assistant Registrar - Postgraduate & Non-Standard Admissions) within 14 calendar days of notice. This will then be considered by a designated panel and a final response made within another 14 calendar days.

The relevant offices - Student Administration (Academic Registry), Helen Hayes (Postgraduate & Non-Standard Admissions) and the UKVI Compliance Office - should be notified of any change, or intention to change, the study details (e.g. academic progress, course, mode of study, temporary withdrawal, permanent withdrawal) as soon as possible in order to assess the impact on Satisfactory Academic Progress and the calculation for the Return of Title IV Funds (i.e. repayment of the portion of the loan that has not been earned to the Lender/Federal Government).

The length of courses/programmes for loan purposes, with implications for repayments, are as follows:

• Bachelors: 3  or 4 academic years "Full-time" (e.g. September 2021 to June 2024 or 2025). Thereafter "Graduated" (i.e. completed course).
• Masters: 1 calendar year "Full-time" (e.g.  September 2021 to September 2022. If not "Graduated" (i.e. completed course), then "Half-time" if still present in Aberystwyth writing up the dissertation (within limits of Tier 4 visa) and attendance can be verified; otherwise "Less than half-time". (N.B. Applicable to both taught Masters and MPhil students).
• PhD: 3 calendar years "Full-time" (e.g.  September 2021 to September 2024). If not "Graduated" (i.e. completed course), then "Half-time" for the writing up-period (up to an additional year, within limits of Tier 4 visa) if attendance can be verified; otherwise "Less than half-time".

N.B. Receipt of loan funds is dependent upon satisfactory academic progress and satisfactory attendance (minimum 50% although Satisfactory Academic Progress as required by the University will require much higher attendance rates than this). Attendance will be assessed using the University's UKVI monitoring criteria. If you do not require a visa to study in the UK and thus not subject to UKVI monitoring, your attendance for US Federal Loan purposes must still be monitored and will be verified with the relevant department(s).

Satisfactory Academic Progress (SAP) Policy for US Federal Direct Loan at Aberystwyth University

All students enrolled at Aberystwyth University, regardless of nationality or source of funding must conform to the rules and requirements of progression as outlined within the University’s Rules & Regulations.

The United States Department of Education require that Aberystwyth University has a Satisfactory Academic Progress (SAP) policy which shall be applicable to eligible students who wish to access US Federal Student Aid and have such aid administered by the Academic Registry at Aberystwyth University. Such students are required to progress in line with this policy.  This policy does not impose additional academic requirements upon recipients of US Federal Student Aid.

Qualitative

1. In order to maintain eligibility for Financial Aid with the qualitative standard, a student must maintain the academic standing necessary to remain at Aberystwyth University.
2. Students must achieve minimum standards as required by the university (40% pass rate for Undergraduates and 50% pass rate for Taught Postgraduates;  for Postgraduate Research students, progress will be checked with the student’s research supervisor). If a student on a taught course does not meet the relevant standards, they will put on probation until the next semester's module marks are confirmed.  Research students placed on probation will retain their probationary status in accordance with the specific terms as set by the relevant academic department and as appropriate for their individual case. At the end of the probationary period, if a student still does not meet the required standard, further Financial Aid will be suspended.
3. The University will conduct a review at the end of each academic year to determine those students who are eligible to successfully progress towards obtaining a qualification by comparing individual student performance against University programme regulations.
4. All students must also maintain a level of academic progression as specified in the University’s Rules & Regulations. Students who fail to maintain sufficient academic progress will be dismissed from the University.
5. A student must ensure that they maintain sufficient academic progression (based on their individual programme regulations) regardless of their eligibility for or participation in the Title IV program.
6. Termination of a student’s registration will follow policies and procedures agreed by Aberystwyth University. Students should note the University’s relevant appeals procedure: Academic Appeals

Quantitative

1. All students must attend the appropriate classes as defined by the programme regulations.
2. Failure to attend classes and/or other events as defined in programme regulations may result in expulsion from the University.
3. The minimum attainment requirements for a student to successfully complete a degree programme are contained within the University’s Rules & Regulations.
4. Students must progress through their programme at a pace which ensures that they will graduate within the maximum time-frame of 150% of the published time-frame of the course as measured in credits:
• 5 years for a 3-year Undergraduate degree.
• 2 years for a 1-year Masters degree and 3 years for 2-year Masters degree
• 5 years for a 3-year PhD degree - Further funding beyond this period is not permitted, even if under University regulations the student is still in abeyance (writing-up thesis). If a PhD student submits their thesis, no further financial aid is available.)
5. Periods when a student does not receive Title IV funds will be included in the maximum time-frame.
6. Periods of temporary withdrawal from the course will not be included in the maximum time-frame.
7. Aberystwyth University evaluates Satisfactory Academic Progress at the end of each academic year.
8. Students must complete all required modules/courses in order to be awarded their appropriate qualification.
9. Students who achieve a pass grade may not repeat a module/year.
10. Repeat/Re-sit module marks will be counted in the grade average and not the original marks.
11. Any disbursements scheduled for the next academic year for students who are not making Satisfactory Academic Progress will be cancelled.
12. Financial Aid will be disbursed at in the form of two payments, at the start and mid-point of the academic calendar as appropriate to the course undertaken (9 months in the case of undergraduate programmes and 12 months in the case of postgraduate programmes).
13. Where a student withdraws within a payment period and after a disbursement of Financial Aid has occurred, a calculation will be made in order to determine eligibility to retain any part of the Financial Aid received based on the percentage of the payment period attended.   
14. Withdrawing students who attend more than 60% of the payment period may retain all of their aid for that payment period. 

Transfer Students

1. Transfer students’ transcripts will be evaluated by the relevant Admissions Office within the Academic Registry and the Programme Co-ordinator. Modules which are deemed applicable to the proposed Aberystwyth University degree will be accepted and will be used to award exemption from corresponding modules within the new programme.
2. Only those grades earned at Aberystwyth University will be used to compute the qualitative requirement.

Change of Programme or Degree

Students who decide to change their qualification outcome will be evaluated similarly to Transfer Students with the exception that the grades previously earned at Aberystwyth University will be used to measure the qualitative requirements.

Concurrent Degrees

1. Although it is unlikely to occur, students may pursue two graduate qualifications concurrently.
2. Students will be charged the tuition for each programme and the Cost of Attendance for one degree.
3. Students must meet the Satisfactory Progress requirements for both to retain eligibility.
4. Loans will be processed to the maximum yearly eligibility for graduate students.

Additional Degrees

1. Students who have completed a programme successfully and wish to pursue another must apply for admission to that programme as any other applicant would, and meet the admission requirements for the new programme. Should a student require a UK Student Visa to study in the UK, they should also be aware that UKVI Academic Progression rules.
2. Federal loan eligibility will be limited to the aggregate programme maximums under Federal Regulations.

Appeals of SAP

1. Students who are not making Satisfactory Academic Progress are not eligible to receive any future US Federal Direct loans.  They will be notified of this in writing.
2. To regain eligibility students have 14 calendar days to submit an appeal to the Academic Registry, stating the reasons for failing SAP and informing about changes that will allow the student to make SAP at the next evaluation. Additional documentation/proof may be requested to support the appeal.
3. A decision of the appeal will be given to the student in writing within 14 calendar days of submission.
4. No US Federal Direct Loan disbursements will be made while an appeal is being processed.
5. If the Academic Registry is not satisfied that student has met the SAP standards, then the student will be ineligible for further disbursements until they have met the SAP standards.
6. Appeal documents should be submitted to Helen Hayes, Assistant Registrar (Postgraduate & Non-Standard Admissions)

Probation

1. If the Academic Registry is satisfied that student has met the SAP standards, the student will be placed on probation.
2. During the probation period, students can regain eligibility and continue receiving US Federal Direct Loan as long as they meet SAP standards.
3. A student on probation may only receive Title IV funds for one payment period. The student’s progress will be reviewed at the end of the payment period to make sure they continue to meet the SAP standards.
4. A student who fails SAP after a period of probation is ineligible to receive Title IV funds for the subsequent payment period.
5. A student, who has lost their loan entitlement after an unsuccessful probationary period, but manages to meet the SAP at a later point in the academic year, will be entitled to regain a probationary status and apply for loans (in accordance with other eligibility criteria) for future years.

SAP appeal, probation and suspension are related to students’ eligibility to receive Title IV funds and will not affect their enrollment status, immigration status or tuition fee liability.

Last Reviewed: June 2021

Any fees due to the University will be subtracted from your loan funds within 3-working days of receipt from the US Government. We will disburse the remaining funds to you within another 10 working days.

The University's generic policy on the refunds due to early withdrawal from a programme of study is available online.  However, fees for research students would be calculated pro-rata (on a monthly basis). Reference to "Student Loans" in this policy refers to the UK Student Loan system.  This could cause confusion if you are a postgraduate and/or an international student. This should not be confused with the Return of Title IV Funds (i.e. paying back loan funds that have not been earned).  

Please be aware that the University may take steps to recover any debts or losses from students as a result of them no longer being eligible for Federal Aid.

This is calculated on a different basis to the generic refund of fees due to a student. The difference for US Direct Loan students is that the funds are received by the University first and relevant tuition fees and accommodation fees subtracted before disbursing the remaining fees (if applicable) to the student. Calculations are based on a standard set of equations as determined by the US Department of Education. The amounts that the University has to repay for subsidised Stafford, unsubsidised Stafford and PLUS/GradPlus loans is determined and refunded to the US Treasury within 45 days. The amount that the student has to repay is also calculated.

As loans will be disbursed in the form of two payments, at the start and mid-point of the academic calendar as appropriate to the course undertaken (9 months in the case of undergraduate programmes and 12 months in the case of postgraduate programmes),  the proportion of days that a student has attended within that payment period will determine how much federal aid they have earned. If this is greater than 60% of the payment period, the return of Title IV funds will not be required. If it is less than or equal to 60%, then the appropriate calculation and refund must be performed.

Please be aware that the University may take steps to recover any debts or losses from students as a result of them no longer being eligible for US Federal Aid.