US loan FAQs

To be eligible for Federal Direct Loans you course cannot include online teaching.

The CARES Act Pandemic Relief Bill was introduced during the Covid pandemic to allow students at foreign schools to study without limitations on online teaching/classes and still retain eligibility for Federal financial aid (FSA).  

The CARES Act ended on 30th June 2023 and currently there has been no further extension to the bill, but new legislation still requires passage.

All courses are now in person and are not fully online, however eligibility requirements require that there is no online element at all.

This only applies to Federal financial aid. If you are borrowing a private student loan e.g. Sallie Mae or Earnest, there are no restrictions.

The table below shows the types of loans the University of Westminster is certified to approve. 

Before choosing your loan(s), we advise that you take some time to compare interest rates and repayment terms to see which is better for you. Please also see What are the differences between Federal and private students loans.

If you intend to borrow loans, after completing your FAFSA, please email us at [email protected] and include your full name and university applicant number.

Subsidised Direct Loan

• Undergraduate students only
• Interest free whilst in school at least half-time, during the grace period or during deferment periods

Unsubsidised Direct Loan

• Undergraduate and Graduate/Professional students
• Interest accrued during the period of study, during the grace and deferment periods

PLUS Loan

• Graduate/Professional students and parents of dependent undergraduate students
• Interest charged during all periods
• Can be used to cover the rest of your Cost of Attendance (CoA).

Sallie Mae and Earnest private student loans

Can also be taken in addition to, or instead of, Direct Loans to the value of the Cost of Attendance (CoA).

The amount you can borrow is called your Cost of Attendance (CoA). It is the maximum amount you can borrow but you do not have to borrow the full amount. Your CoA comprises tuition fees and living expenses as determined by the University. The figures below are used to calculate your living expenses (not including tuition fees). In addition to these amounts, the University will add on an average cost of a return flight home, entertainment and start-up costs.

Before choosing your loan(s) we advise that you take some time to compare interest rates and repayment terms to see which is better for you. Please see federal and private student loans on the Federal Student Aid website.

The table below shows you how we calculate your CoA (excluding tuition fees).

*We have included rent costs of £275 per week and we are unable to increase your CoA due to renting more expensive accommodation. The UG rent total is for 38 weeks. 

**More information is available on our Immigration Health Surcharge page.

***We have included average origination fee costs. The amount for Independent UG is lower because they are unable to borrow a PLUS Loan. 

If you are enrolling on a 4-year undergraduate course, which includes a placement or year abroad, your CoA will differ. We will also need to check that it is eligible for Federal Direct Loans. Please email [email protected] for details if this applies to you.

We are unable to increase your CoA unless you have very specific reasons such as medical costs.

If you have a scholarship, are in the process of applying for a scholarship or are awaiting a decision, you should inform us as this will affect your CoA.

The total cost of attendance (not including tuition fees) using the exchange rate of $1.30 USD:

• Postgraduate: £32,732 (approximately $42,552)
• Undergraduate: £26,584 (approximately $34,560 – first year)
• Continuing Undergraduates – £25,396 (approximately $33,015)

The table below shows the amounts available to you annually.

Undergraduate students can find out whether their status is dependent or independent by viewing the Dependency Status on their FAFSA Submission Summary (FSS) generated from their FAFSA.

The Direct Subsidised and Unsubsidised Loans are not enough to pay the full cost of tuition for undergraduate courses and some postgraduate courses. Therefore, you will need to consider how you intend to pay the outstanding balance of your tuition fees and your living expenses. You can make up the difference with your own funds, a Federal Direct PLUS Loan or a private student loan.

Please note: If you do not borrow enough money to cover the full cost of your tuition fees you are expected to pay the outstanding balance yourself.

The Aggregate Loan Limit is the maximum you can borrow in Direct Subsidised and Unsubsidised Loans during your whole education. For more information go to the Federal Student Aid website.

Federal Direct Loans incur a loan fee, which is a percentage of each loan you receive and is deducted proportionately from each loan disbursement. This means the money that is disbursed to you is less than the amount you borrow. You are responsible for repaying the whole amount borrowed, not just the amount disbursed.

The loan fee that you are charged will be reflected in a disclosure statement sent to you from the US Department of Education. You are encouraged to check all fees, rebates and interest rates when applying for your loans.

We will include the average costs of loan fees in your Cost of Attendance (CoA).

Interest rates are set annually and relate to disbursements occurring between 1 July and 30 June. Find out about interest rates and fees for Federal Direct Loans.

The £4,000 International Deposit is part of your tuition fee and is not an additional payment. 

Students in receipt of US Loans approved by the University of Westminster can defer payment of the International Deposit. To do this, your loan must be approved. We then notify your Admissions Officer, who will contact you regarding your CAS number and visa information.

If you prefer to pay the deposit  before your loan has been originated in order to obtain a CAS more quickly you can do so by going to Paying your Fees.

For more information about your CAS please see Confirmation of Acceptance for Studies (CAS).

International students have to pay a deposit before they are issued with their CAS number, however, US students in receipt of Federal or private student loans can defer payment of the international deposit. Once your loan has been originated the Admissions Office will send you a pre-visa email. Please contact [email protected] if you would like to do this.

Please email [email protected] if you have any queries relating to your CAS.

Federal Direct Loans

Once your loans have been originated we will send you a Notification of Student Loan Letter.

This letter is confirmation of your Federal Direct Loans and includes the loan period, the loan type, the amount you are borrowing and the disbursement dates for the academic year. This letter can be used to support your visa application and will be emailed to you.

Private Student Loans

After your loan has been certified Sallie Mae or Earnest will send you confirmation, which can be used to support your visa application.

You can contact our Student Advice Team but you may find the answers to your questions on our Student visa webpages. You can also email [email protected] with your questions.

Step 1 – FAFSA

• You must complete a Free Application for Federal Student Aid (FAFSA)
• Include the University of Westminster as one of your school options
• The University of Westminster's school code is G21951.

The following steps must be completed via the Student Loans website.

Step 2 – Subsidised/Unsubsidised Master Promissory Note (MPN)

Step 3 – PLUS Master Promissory Note (MPN) and Loan Application

If you or your parent is borrowing a Direct PLUS Loan (if not, go to step 4)

Step 4 – Entrance Counselling

Step 5 – Return your completed Loan Acceptance Document (LAD)

You do not need to send us documentation to show that you have completed steps 1 to 4 as we can access them ourselves.

Your loans will be originated once you have accepted the course offer to study at the University of Westminster and completed the steps above. If you have a conditional offer, your loans will be originated after you have met the conditions of your offer.

Yes, Exit Counselling is a requirement for all students who borrow Federal Direct Loans (Subsidised, Unsubsidised and PLUS). Before you graduate, drop below half-time attendance, or withdraw, US regulations require you to complete an Exit Counselling session, regardless of whether you plan to transfer to another school or re-enrol later.

Find out more and complete the session by going to Exit Counseling.

• You can apply for Sallie Mae loans via Salliemae.com
• You can apply for an Earnest loan via Earnest.com

Before we can certify a private student loan you should consider both Federal and private student loans. We advise that you take some time to compare interest rates and repayment terms to decide which is best for you. Please see How do I repay my loans? for information on repayment plans.

Your Federal Direct Loans, Sallie Mae and Earnest private student loans will be disbursed to you in GBP (sterling) into a UK bank account.

As we cannot disburse loans until you are fully enrolled and have a UK bank account, we strongly advise you to have available cash with you when you arrive in London. The Admissions Office will send you an email informing you of your enrolment date.

Federal Direct Loans

The University uses Convera to process Federal Direct Loan disbursements and you will receive an email via Convera to logon to their secure portal to submit your UK bank details.

Before your disbursement, you will receive a Pre-disbursement email outlining the information of your loan instalment and when it is likely to go through. Once the transaction has been made, you will receive another email with the details of your disbursement, showing the GBP amount allocated to your tuition fees and the amount paid to you for your living expenses. Your tuition fee payments will not show on your student record immediately as they take longer to process.

Undergraduate students

• Disbursed in two instalments
• From each disbursement we will immediately pay up to 50% of tuition fees
• The remaining balance on each disbursement, if any, will be directly deposited into your UK bank account to use for your living expenses.

Graduate/Professional students

• Disbursed in three instalments.
• From each disbursement we will immediately pay up to a third of tuition fees.
• The remaining balance on each disbursement, if any, will be directly deposited into your UK bank account to use for your living expenses.

Sallie Mae Loans

We use Corpay to process your private student loan disbursements. You will receive an email to request your bank details before the first disbursement. Once the transaction has been made, you will receive an email with the details of your disbursement, showing the GBP amount allocated to your tuition fees and the amount paid to you for your living expenses. Your tuition fee payments will not show on your student record immediately as they take longer to process.

• Disbursed in two instalments
• From each disbursement we will immediately pay 50% of tuition fees
• The remaining balance on each disbursement, if any, will be directly deposited into your UK bank account to use for your living expenses

Earnest Loans

The University uses Convera to process Earnest student loan disbursements and you will receive an email via Convera to logon to their secure portal to submit your UK bank details. Once the transaction has been made, you will receive an email with the details of your disbursement, showing the GBP amount allocated to your tuition fees and the amount paid to you for your living expenses. Your tuition fee payments will not show on your student record immediately as they take longer to process.

• Disbursed in two instalments.
• From each disbursement we will immediately pay up to 50% of tuition fees
• The remaining balance on each disbursement, if any, will be directly deposited into your UK bank account to use for your living expenses.

The expected disbursement dates for the 2024/25 academic year are outlined below. Please be aware that the date of the first disbursement is dependent on you completing enrolment and providing us with your UK bank details. For information on banking in the UK visit our Banking page.

Disbursement dates for the 2024/25 academic year are: (please note that all dates are week commencing)

*(w/c) is week commencing of the dates mentioned.

Please follow the links below to see the relevant repayment information and plans available.

• Repayment plans - Federal Student Aid
• Choose a type of interest rate and repayment option - Sallie Mae
• Repayment options for private student loans - Earnest

The University of Westminster does not currently complete 1098-T tax forms for its US students. For your tax forms, we have provided our school code and EIN below. To see your tuition fee payments please click on Fees and Payments in your SRS Web account.

• University school code: G21951
• Employer Identification Number (EIN): 98-1157292.