International Loans
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There are two international loans available, please click on the links below to quickly access the sections:
Funding Option for EU Students
FINS Loan Scheme
FINS is a private student loan scheme that offers personalized financial solutions to EU students, enabling those with a lack of financial resources to pursue higher education abroad.
The scheme was introduced to the University of 黑洞社区 in 2021 and is open to all EU students that want to apply, applied, or have already received an offer to study an Undergraduate or Postgraduate course at the University of 黑洞社区.
EU students can access up to EUR 18.000 for postgraduate studies, or up to 25.000 EUR for undergraduate studies.
The FINS loan scheme is flexible and can be used for the following:
听 Tuition Fees
听 Monthly living costs of meals and rent (including rent deposit)
听 Books and other study materials or equipment
听 Medical Insurance
听 Transportation
听 Urgent expenses
As soon as you know which university you want to go to, you can get in touch with FINS on their听.
FINS takes into consideration the following eligibility criteria when assessing applications:
- EU citizen pursuing their studies in another 黑洞社区 than that where they graduated their previous education cycle.
- EU citizen (that has no outstanding/unpaid debts for previous loans by other financial institutions).
Further eligibility criteria can be viewed on the FINS.
Federal Student Aid
US Applicants
We participate in the听.
If you or your programme of choice is not eligible for the Direct Loan programme you can look at funding your studies privately. are currently the only available private student loans for US students studying at the University of 黑洞社区.
These pages have听information on Direct Loans available for students from the United States who wish to study at the University of 黑洞社区. We do not cover other loans and grants such as the Pell Grant, as they are not available to students studying in Foreign Schools.
In order to apply for funding, you must听meet the eligibility criteria set by the US Department of Education.
You are required to be enrolled at least half-time at the University of 黑洞社区; study on an eligible, degree-bearing course;听make satisfactory progress (SAP); and undertake your study in the UK.
Eligible courses:
- Degree (undergraduate and postgraduate)
- PhD (see below for PhD related restrictions)
Mature students
In order for US students to be eligible to receive US Federal Aid, you must have a secondary school completion credential or its equivalent. (See 34 CFR 600.54). Students enrolled under the mature student provision do not satisfy this requirement and are not eligible to apply for US Federal Aid.
Work placements听
Many of our degree programmes offer work placements and they can be compulsory or voluntary.
A degree with a work placement is eligible for Federal Aid funding if the placement component meets all the below criteria.
The placement...
- does not exceed 50% of the length of the degree;
- counts towards the course grades;
- is under the guidance and guided by university staff;
- does not take place in the US;
Study abroad and exchange听
Students in receipt of US Federal Aid can take part in voluntary study abroad and exchange opportunities available at the University of 黑洞社区.
Student should be aware, however that this is only possible if the host institution abroad is a Title IV eligible institution. A list of eligible institutions is available from the Financial Aid team (international@chi.ac.uk).
Students should also be aware that they will not be eligible for US Federal Aid funding if they choose to take part in study abroad/exchange that takes place in the United States.
Who to contact?听
Questions relating to federal funding and eligibility during study abroad/exchange should be emailed to听international@chi.ac.uk.
If you would like to find out about study abroad and exchange opportunities, please get in touch with听exchange@chi.ac.uk.
Ineligible courses
The following types of courses are not eligible for federal loans:
- 黑洞社区 which are less than half-time.
- Non-degree-bearing courses e.g. Certificate/Diploma of Higher Education or postgraduate certificates or diplomas.
- 黑洞社区 with online or distance learning听elements.
- Foundation degrees.
- Study abroad/exchange programmes at non-Title IV eligible institutions.
- 黑洞社区 accredited by us and/or taught at our Partner Institutions in the UK.
Nursing degrees
Our Nursing degrees are not certified for US federal aid and are therefore not eligible for funding.
Postgraduate Certificate in Education (PGCE)
Certificates and Diplomas, including the Postgraduate Certificate in Education (PGCE), are not eligible for US Federal Aid.
Study Abroad/Exchange 鈥 eligible institutions & time spent in the USA听
Students should be aware that a voluntary study abroad/exchange is only possible if the host institution abroad is a Title IV eligible institution. A list of eligible institutions is available from the Financial Aid team (international@chi.ac.uk).
Students should also be aware that they will not be eligible for US Federal Aid funding if they choose to take part in study abroad/exchange that takes place in the United States.
PhD students 鈥 time spent in the USA听
Please note that PhD students are not eligible for US Federal Aid if their study includes periods of study or research in the U.S.A.
PhD students may make themselves or the course they are studying on ineligible in these circumstances:
Under 搂600.52, a foreign institution may not permit students to enroll in any course offered by the foreign institution that takes place in the United States, including research, work, internship, externship, or special studies.
Despite this prohibition, independent research done by an individual student in the United States for not more than one academic year is permissible 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 the United States. (Additional guidance on the Title IV program ineligibility of foreign institution programs offered in the U.S. can be found in Dear Colleague Letter GEN-11-18.)
If you are a PhD student and are planning to spend any time during your studies in the United States, please make sure you contact the financial aid administrators to determine whether your plans impact on your loan eligibility.
Funding for an ineligible programme听
If your course is ineligible, you can look into Sallie Mae loan eligibility (Private Loan). Please see further information below.
Please note that Sallie Mae loans are not available to students studying at our partner institutions.
The principle funding available to US students studying at the University of 黑洞社区 is the Federal Direct Loan.
For more information on the direct loan please visit the .
The direct loan is available to cover the primary costs of education (tuition, student accommodation, books/supplies and commuter travel) and is available to both undergraduate and postgraduate students.
You should plan a budget for your studies (cost of attendance) and you should only borrow what you need.
Federal Direct Stafford Loan
The Federal Direct Stafford loan is made up of two parts - 听subsidised and unsubsidised, which have fixed limits depending on your status (dependent, independent or postgraduate). These may be topped up to the full cost of attendance (COA) with a PLUS loan, which is not an entitlement, but subject to credit checking and may be declined by the US Department of Education.
厂耻产蝉颈诲颈蝉别诲听
This loan is assessed on financial need. No interest is accrued while you are in school at least half-time, during the grace period and during deferment periods. Afterwards these costs will revert to being your responsibility. The figures may change, so you need to check interest rates when applying for your loan(s).
Unsubsidized
This loan is not based on financial need. Interest is accrued during the period of study and during the grade and deferment periods. No payments are required while you听are enrolled at least for half-time. These costs are your responsibility and figures may change, so you need to check interest rates when applying for your loan(s).
DEPENDENT STUDENT (AGED 24 AND UNDER) AGGREGATE LIMIT $31,000 |
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Year of course | 厂耻产蝉颈诲颈蝉别诲听 | Unsubsidised | Maximum Loan听 |
Year 1 | USD 3,500.00 | USD 2,000.00 | USD 5,500.00 |
Year 2 | USD 4,500.00 | USD 2,000.00 | USD 6,500.00 |
Year 3 and beyond | USD 5,500.00 | USD 2,000.00 | USD 7,500.00 |
INDEPENDENT STUDENTS (AGED OVER 24听24 OR THOSE WHOSE PARENTS ARE UNABLE TO OBTAIN A PARENT PLUS LOAN) - AGGREGATE LIMIT $57,500 |
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Year of course | 厂耻产蝉颈诲颈蝉别诲听 | Unsubsidised | Maximum Loan |
Year 1 | USD 3,500.00 | USD 6,000.00 | USD 9,500.00 |
Year 2 | USD 4,500.00 | USD 6,000.00 | USD 10,500.00 |
Year 3 and beyond | USD 5,500.00 | USD 7,000.00 | USD 12,500.00 |
Postgraduate students | Maximum |
All years | USD 20,500.00 |
This loan is available to graduate/professional students. This loan helps to pay the cost of education up to the cost of attendance minus all other financial aid. Interest is accrued during the period of study.
The applicant needs to complete a separate MPN + credit check in order to qualify for this loan.
This loan is available to the parents of dependent students.
This loan helps to pay the cost of education up to the cost of attendance minus all other financial aid. Interest is accrued during the period of study and in order to qualify the parent needs to complete a MPN and provide evidence of successful credit check.
Other charges:听The US education department charge an origination fee on all loans and this is deducted from each disbursement.
Loan type | Origination fee |
Subsidised | 1.068% |
Unsubsidised | 1.068% |
Direct Plus Loan | 4.272% |
The limit for receipt of direct loans:
There is a maximum period that you can receive Direct Subsidised Loans if you are a first-time borrower.
You cannot receive Direct Subsidised Loans for more than 150% of the published length of your programme.
If you are successful in applying for federal funds to finance your studies in the UK, you do not need to pay an international fee deposit to confirm your place and to get your CAS for the visa application. (if applicable). We recommend that you apply for your loan in a timely manner and send us the required documents by early June so that we have enough time to process your loan request and confirm to the admissions team that you are exempt from paying the deposit.
1. Complete your FAFSA application online
Completing your FAFSA application will allow us to see if you have applied for a loan to study with us and to see if you are eligible for loans.
You will be asked for our OPE ID (school code), which is 03694300.
Check and update your FAFSA application if necessary and make sure that it includes your expected family contribution (EFC) and the details of any previous Federal loans you have taken out. If any details are missing or if there are comments stating that further information is required, please make any necessary corrections and resubmit your application.
You can submit your FAFSA from January, but we won鈥檛 be able to process your application until you have an unconditional offer from the University.
However, we can issue you an award letter to indicate what you would be eligible for at any point after you have submitted your application.
You will need to email us to confirm that you have taken the above step, so that we can send you an award letter with the loan amount(s) you are eligible for.
2. How much can you borrow?
Once you email us to confirm that you have completed the above steps, we will send you your estimated cost of attendance (COA) and a loan recommendation letter. You can use our loan recommendation to decide how much you need to borrow from each type of loan you are eligible for.
The COA is made up of tuition fees and living expenses as determined by the University. This, along with other factors, such as your aggregate loan limit, dependency status and your estimated family contribution determine the amount you will be able to borrow for the academic year.
Please see below a table of "Estimated living costs" at the University of 黑洞社区 (undergraduate students 39 weeks per year, including vacation periods).
You may wish to borrow less than the estimated figures. If you wish to borrow more, please contact the US loans team to discuss your options.
Description听 | Cost听 |
Room rent (per week)听 | 拢200.62听 |
Personal (per week)听 | 拢60.00听 |
Books, printing and copying (per academic year)听 | 拢500.00听
听 |
Transport, including local travel (per academic year)听 | 拢2740听 |
Visa application fee (one off payment)听 | 拢490.00听听 |
NHS immigration surcharge (one off payment). The amount is dependent on the length of your course听 | 拢2328.00听听
(3 year course)/听 拢776 (1 year course)听 |
PC/laptop and printer (per academic year)听 | 拢550.00听 |
Tuition Fees听 | Check your tuition fees on your offer letter听 |
Loan origination Fees.听
The US department deducts an 鈥渙rigination fee鈥 at source, which reduces the net amount that the University will receive on your behalf. You may choose to add/include this fee in your COA so that the net amount represents what you wish you borrow.听 |
Full cost 听 |
听
These figures are estimates and are used as your Cost of Attendance on your loan application. You cannot borrow more than what we estimate as your COA.
Please note that we must deduct any other Financial Aid and the Expected Family Contribution (EFC) when calculating your COA. It is your responsibility to let us know your EFC and other funding e.g. scholarships you are in receipt of.
3. Entrance counselling
As a first-time borrower, you will need to complete an online loan entrance counselling process before your loan can be disbursed. This will help you understand your rights and responsibilities as a loan borrower and gives you tools to assist you with managing your loan.
For a plus loan, you will need to complete a plus loan counselling process.
Once you are in your final semester of your studies with us, you will be required to carry out 鈥渆xit counselling鈥 before the final disbursement for the academic year is released.
4. Master Promissory Notes (MPN) and Plus Credit Check
You will need to complete an MPN annually before the loan funds can be disbursed. You will need to E-sign your federal direct loan MPN on the student loans website using your Federal Student Aid PIN.
For a graduate plus loan or parent plus loan a separate MPN is required. A Plus loan is also subject to a credit check. Please note that credit checks remain valid for 3 months, so don't do it too early in the year.
5. Email your signed award letter to the University of 黑洞社区
Email: international@chi.ac.uk
Please sign and return the award recommendation letter and email it to us.
If you are applying for a Parent Plus loan, we will need your parents鈥 consent to pay the PLUS loan funds directly to you.
6. What happens next?
Once you have completed all the steps above, we will check and confirm your eligibility for direct loans. We will send you an email confirming the details of your loans including the amounts and disbursement dates. If you need a UK study visa, we will issue you with a letter confirming the loan amounts.
You will receive your loans once you have arrived at the University and completed your registration. The loans are paid directly to the University and are disbursed in two or three instalments depending on the type of course you are on. Please see the disbursement section below for more information.
We receive your loans from the U.S. and convert this into GBP pound Sterling. We will then deduct the fees for tuition (e.g. 50%) and halls of residence (e.g. 50%) and transfer any excess funds into your UK bank account within 14 days of the disbursement date.
To receive the excess (surplus) funds you will need to open a UK bank account as soon as you have registered onto your course. Bank account request letters are available via Chiview (printable documents).
As the disbursement process will take some time, we recommend that you bring enough money to cover at least the first 6 weeks of your stay in the UK.
Please note that if you are a first-time borrower your loan disbursement will take place 30 days after you have registered onto your course.
Each loan disbursement is subject to you maintaining satisfactory academic progress and there are no changes to your status. Please see our Satisfactory Academic Progress policy under 鈥業mportant Information鈥 below.
You have the right to cancel all or part of your loan. This can be done by emailing the International Student Advisory team 14 before the disbursement date listed on your notification letter.
7. Re-apply for your loan every year
You will need to apply for direct loan funding separately for each year of your study. Please note that this is not administered by us automatically. You will need to re-apply via, sign a new MPN and arrange a new credit check (if applicable) for each year of your study.
8. Exit Counselling
Once you are approaching the end of your studies with us, you will need to complete exit counselling. You should do this via the Student Loans website. We will ask you to do this exit counselling before we disburse your last loan instalment to you.
Please email us your exit counselling completion confirmation as a PDF before your final loan disbursement (at the beginning of your final semester with us). This is a formal requirement, and the purpose is to ensure you are aware of the obligations with regards to your loan repayments.
We advise that you investigate US federal loans before applying for a US private student loan, as federal loans are often cheaper and most American students are eligible for them. US private student loans do not enable you to borrow more funds than US federal loans.
If you are not eligible for US federal loans, a private loan can be the way to fund your studies.
The University does not recommend any private lender, however as far as we are aware there is only one private lender that makes loans available to US citizens receiving their degree at a foreign school. To get more information about The GEMS Smart Option Student Loan or Graduate School Loan听by Sallie Mae visit the听
- Please contact the International Student Advisory Service for a Cost of Attendance (COA) figure before contacting听Sallie Mae听to apply for your loan;
- Apply for your Sallie Mae loan鈥
- Once you have your e-signed Promissory听Note you should forward it to听the International Student Advisory Service who will liaise with Sallie Mae regarding the origination;
- Register onto your course;
- We will originate your loan;
- Sallie Mae will typically send us a cheque which is endorsed by the University. We will post the cheque to you to be endorsed before you can pay it your local bank. Alternatively, we can ask for the cheque to be sent directly to your home address. Once the money has cleared you are听responsible for听making payments听due听to the University.
Please note that we will confirm the听exact dates to you in your loan confirmation letter.
DISBURSEMENTS 2023/2024
Undergraduate students: | Masters Students: | PhD Students: | Sallie Mae borrowers: |
1st: 4 October 2023 Or if first time borrower: 25 October 2023 2nd: 14 February 2024
|
1st: 4 October 2023
2nd: 14 February 2024 3rd: 17 April 2024 |
1st: 4 October 2023
2nd: 14 February 2024 3rd: 17 April 2024 |
Your loan will be paid in one instalment. The date will be specified in your loan confirmation letter. |
You must be registered onto your course before you can receive your funds. The above dates indicate when we receive the funds from the U.S. Department of Education, this is not the date you received the funds. We will deduct any tuition fees and accommodation fees (if applicable) within three days and transfer any surplus to your bank account within 14 days. You should ensure that you have sufficient funds from an alternative source to cover any costs until you receive your first disbursement.
You will need to open a UK bank account if you are expecting any surplus funds to be paid to your bank account. You can print your own bank account request letter via Chiview. If you require any information on how to open a UK bank account, please email international@chi.ac.uk.
If you have applied for a parent PLUS loan, your parent borrower must complete the听 before any surplus funds can be paid directly to your bank account. This form will be emailed to you if applicable.
If you are a first-time borrower, your loan will be disbursed 30 days after enrolling at the University.
Visit our听course & semester dates page.
We are required to report any changes to your enrolment within tight timescales and, if necessary, to complete a Return to Title IV (R2T4) calculation and arrange for any 'unearned' loan funds to be returned to the US Department of Education.听 For more information please see our 'Return of Title IV funds' policy under the important information section.
Contact Us
黑洞社区 International Advice
鈥婤ishop Otter Campus, College Lane, 黑洞社区, PO19 6PE, UK
international@chi.ac.uk
+44 (0) 1243 812194 or +44 (0) 1243 812192