William D. Ford Federial Direct Loan (Direct Loan) Programe

Students wishing to apply for Direct Loans should refer to the following

Please note that students undertaking distance learning courses are NOT eligible to receive Federal Direct Loans. Students can apply for private loans to cover costs.

How to Apply

FEDERAL DIRECT LOANS

 

HOW TO APPLY

Students wishing to apply for Federal Direct Loans should visit www.StudentLoans.gov

to

  • apply for FAFSA
  • complete Master Promissory Note (MPN)
  • complete Entrance Counselling

The Robert Gordon University School Code is G31028 (this code may also appear as 031028).

Students should then complete the form below and forward it to

m.mcintosh@rgu.ac.uk along with the following - American Loan Form

  • copy MPNs
  • confirmation of Entrance Counselling having been completed - screenshot or email
  • if PLUS loan required, confirmation of positive credit check eg screenshot email

MISSING STUDENT NOTIFICATION

In signing this agreement if you are under 18 years of age and not emancipated you are permitting the University to contact your parents/next of kin and/or emergency services in the event you are reported missing.

WHAT HAPPENS NEXT

On receipt of all the required documentation, your loan will be processed by the University and you will receive an Award Letter giving details of the loan amounts you are to receive and when disbursement will be made. This letter should be used when applying for your visa.

DISBURSEMENT OF YOUR LOAN

Loans will be paid in equal instalments -

  • Undergraduate courses - 2 instalments - September and January/February
  • Postgraduate courses - 3 instalments

September starts - September, January and April/May

January starts - January, May and August/September

Disbursements will not be made until you have enrolled and commenced studies.

Tuition fee instalments will be amended to coincide with loan disbursements and will be deducted from each loan instalment.

If you are staying in University accommodation and wish to pay for this from your loan, this can be arranged by contacting the Financial Aid Officer.

Any remaining funds will be reimbursed to you by BACS transfer to a UK bank account. If you are a new student and do not have a UK bank account at the time of the first disbursement, payment will be made by cheque.

SATISFACTORY ACADEMIC PROGRESS

Students must progress satisfactorily on their course to ensure they remain eligible for their funding. Please refer to our Satisfactory Academic Progress (SAP) Policy.

WITHDRAWAL

If you withdraw from your course we must inform the US Department of Education and calculate the amount of Title IV assistance earned by you. Please refer to our Return to Title IV (R2T4) Policy.

EXIT COUNSELLING

The US Department of Education stipulates that all student borrowers who graduate, withdraw or stop attending at least half-time must complete Exit Counselling. This can be done on-line at www.StudentLoans.gov. We will automatically receive confirmation that you have successfully completed this counselling.

 

Annual Loan Amounts

   

The amount in Direct Loan funds that you are eligible to borrow each academic year is limited by your grade level; whether you are a dependent or an independent student; your financial need; and your cost of attendance.

You cannot borrow more than your financial need or the cost of attendance.

 

 

ANNUAL LOAN AMOUNTS

 

DEPENDENT STUDENT

 

Base Amount (Subsidized or Unsubsidized)

Additional Unsubsidized Loan

Total Annual Combined Maximum Amount of Subsidized & Unsubsidized Loans

1st year undergraduate

 

$3,500

 

$2,000

 

$5,500

2nd year undergraduate

 

$4,500

 

$2,000

 

$6,500

3rd & beyond undergraduate

 

$5,500

 

$2,000

 

$7,500

 

INDEPENDENT STUDENT (and Dependent Students whose parents are denied a PLUS Loan)

 

 

Base Amount (Subsidized or Unsubsidized)

Additional Unsubsidized Loan

Total Annual Combined Maximum Amount of Subsidized & Unsubsidized Loans

1st year undergraduate

 

$3,500

 

$6,000

 

$9,500

2nd year undergraduate

 

$4,500

 

$6,000

 

$10,500

3rd year & beyond undergraduate

 

$5,500

 

$7,000

 

$12,500

 

 

POSTGRADUATE STUDENT

 

Base Amount (Subsidized or Unsubsidized)

Additional Unsubsidized Loan

Total Annual Combined Maximum Amount of Subsidized & Unsubsidized Loans

 

 

n/a

 

$20,500

 

$20,500

 

 

 

DIRECT LOAN AGGREGATE LOAN LIMITS

 

Subsidized only

Total Aggregate (Subsidized and Unsubsidized combined)

Dependent undergraduates

 

$23,000

 

$31,000

Independent undergraduates

 

$23,000

 

$57,500

Postgraduate students

n/a

$138,500

 

Policies

SATISFACTORY ACADEMIC PROGRESS

Students must progress satisfactorily on their course to ensure they remain eligible for their funding. Please refer to our Satisfactory Academic Progress (SAP) Policy.

WITHDRAWAL

If you withdraw from your course we must inform the US Department of Education and calculate the amount of Title IV assistance earned by you. Please refer to our Return to Title IV (R2T4) Policy.