Guide to applying for federal financial assistance

The University of Plymouth participates in the William D Ford Direct Loan Program and all loans are provided directly by the US Department of Education
3.The library is located in the centre of campus and is open 24/7. There’s seating right outside, where you can get some sun between study sessions.
The University of Plymouth participates in the William D Ford Direct Loan Program and all loans are provided directly by the US Department of Education.
If you wish to support your studies financially at the University with a Direct Loan, then you must contact the University. We will not know if you wish to apply for federal loans, or how much you wish to borrow, unless you tell us. There are no short cuts to loan origination: all students must complete the steps listed on this web page.
We want to be sure that you have completed everything you have to do before we start to process your application because if the University begins the origination of loans for you, and your application is incomplete or information is missing, then your loan origination will fail and this will delay your access to federal financial assistance.
Once we have received your Federal Aid Request Form, then we will provide notification that the University is acting upon the information you have provided. We will verify this information, calculate your Cost of Attendance, access your FAFSA Submission Summary (FSS), assess your eligibility, confirm your tuition fees with the Student Accounts Team, confirm with you how much you wish to borrow, and, finally, issue an award letter once your loans have been originated. This letter acts as a 'proof of funds' for any visa application/renewal.
Once you have submitted your Free Application for Federal Student Aid (FAFSA) you may receive an email about being eligible a Federal Pell Grant. You are unable to receive this Grant if you attend a Foreign School such as the University of Plymouth.
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    Please be sure to read all of the information on the pages below before you start your application for a loan

Eligibility
You must meet the general eligibility criteria to be able to apply for Title IV Direct Loans.
Student eligibility
To be eligible for Title IV Loans you must:
  • be a US citizen or eligible non-citizen
  • have a valid social security number
  • not have defaulted on any previous student loans
  • not have exceeded aggregate borrowing limits
  • show that you are qualified to obtain a university education by: a) having a high school diploma or a recognised equivalent such as a General Educational Development (GED) certificate or by having completed a high school education in a home school setting approved under state law.
Courses that are not eligible
Plymouth is only authorised to provide Title IV loans for courses that lead to a full bachelors, masters or PhD/doctoral.
The University's Programme Participation Agreement excludes eligibility for Direct Loans for students undertaking the following programmes:
  • Medicine or nursing degrees
  • PGCE
  • Diploma programmes
  • Distance Learning (online) programmes
  • Those that are considered as less than half-time attendance
  • Those that are not a degree-bearing course e.g. Certificates, Diplomas
  • A programme offered in whole or in part through telecommunications (otherwise known as distance education), correspondence, or direct assessment is not eligible.
If you plan on undertaking one of the above programmes of study, you will be required to find alternate sources of funding, as Direct Loans are not available to you. Private Loans may be available to students on the above programmes.
Please note that this is not an exhaustive list of ineligible course; our team assesses course eligibility once we receive your application and will advise you if your programme of study is ineligible for Title IV Loans.
New regulations from the US Department of Education now allows students receiving U.S. loans to take up to 25 percent of their program of study in the United States or at institutions outside the U.S. that are not themselves participating in the U.S. Direct Loan Program without losing eligibility for U.S. Direct Loans.
Please ensure that you ask us for advice if any part of your course has a placement or period away from the University, so we can check to ensure that your eligibility for Title IV Direct Loans will not be affected. If your course has a compulsory placement year, or you choose to do an optional placement year, you will not be eligible to receive Title IV Direct Loans for this year.

Applying for Direct Loans
Which loan types are available?
  • Direct Subsidised Loans – while in school, you are not responsible for accrued interest. Available only for undergraduates.
  • Direct Unsubsidised Loans – you are responsible for all the accrued interest from the day of disbursement.
  • Direct PLUS Loans – credit-based loan available for graduate students or parents of dependent undergraduates.
There are a number of steps you will need to complete in order to obtain Direct Loans.
We want to be sure that you have completed everything you have to do before we start to process your application because if the school starts origination of loans and your application is incomplete, or information is missing, then your loan origination will fail and this will delay your access to federal financial assistance.
Please take the time to read our guidance below carefully before you start.
When to apply for a loan
We will be packaging aid for the 24-25 year from the beginning of June. We are currently still accepting loan applications for the 2023–24 academic year. If you wish to apply for this academic year, you can complete our Federal Aid Request Form. Please ensure you have completed the following steps and read all of the information listed under the headings below:

Step one: Complete FAFSA
The Free Application for Federal Student Aid (FAFSA) is an organised method of gathering information about you and your family’s financial situation. This information is then analysed according to US federal guidelines together with University guidelines. This ensures that all applications are treated fairly and equitably.
The results of this need analysis indicate the difference between what can be expected from the family and the cost of education. It shows the ability, not the willingness, of the student and/or their family to pay for their education. This is used to determine whether the student has a financial need.
To be considered for financial aid, you must complete a FAFSA online. You will need to make sure that your web browser is compatible.
Applying online is the best method because your results are processed quicker and there are checks to ensure your information is submitted correctly. If you wish to apply via paper, you will need to contact FAFSA directly.
After you initially submit a FAFSA, each year thereafter undergraduates who completed a paper FAFSA will receive a renewal FAFSA and graduate students or students who completed the FAFSA on the web will receive a Personal Identification Number (PIN) mailer. For those who have applied for Financial Aid previously, the renewal FAFSA has most of your information pre-printed, and typically only your income information needs to be updated (and your parents', if you are a dependent student).
Students are reminded to obtain the necessary PIN (parent(s) and students must each have a PIN) to validate the signature before electronically sending the application to be processed.
One of the final steps in completing the FAFSA is supplying the University's US Department of Education Federal University/School code.
Federal School Code: G23521
OPE-ID: 02352100
After completing the FAFSA, you will receive a FAFSA Submission Summary (FSS). This document lists the information you and your family have provided and tells you what your Student Aid Index (SAI) is for the year you are applying. Please check the information on your FSS is correct as we will use this for your eligibility.

Step two: Notify the University
Please notify us with your intention to study with the University of Plymouth and ensure you continue to steps three through to five.
Once this is received the University will verify the information you have provided. Your tuition fees will be confirmed by the Student Financial Support Team. The amount you can borrow will be determined by the Cost of Attendance (COA) and this is set by the University. We will complete the COA on behalf of the student.
You will receive written confirmation of the loan amounts that you are eligible to borrow. Once you confirm the amounts that you wish to borrow, and the University is satisfied with your eligibility and loan entitlement, your loan(s) will be originated. Information about how, and when, funds arrive is available under the 'receiving funds' tab below.
You will then be sent an Award Letter that confirms the approved loan amounts (after deduction of origination fees) and anticipated disbursement dates. The letter will be sent to you as a PDF on official University letterhead.
Please note that the University is required to supply the details of any loans originated for eligible students, and the details of the enrolment of those students, to the National Student Loan Data System (NSLDS).

Step three: Complete a Master Promissory Note(s) (eMPN)
Please visit the StudentLoans.gov website and complete a Master Promissory Note for each loan type you are taking out. This is a legal document that explains the terms and conditions of your loans and goes through what you promise to repay your loans.
If applying for a PLUS loan (Graduate or Parent) then you, your endorser or your parent(s) must also pass a credit check as part of the loan application. If you/they have an adverse credit history, then you may not be eligible to apply for a PLUS loan.
Master Promissory Notes must be signed for every award year: if you are continuing your studies at the University, you must repeat this process annually.

Step four: Direct Loan Entrance Counselling
Federal law requires all new students to complete entrance counselling at the appropriate grade level (undergraduate or postgraduate) for the appropriate loans (Direct Stafford Loan, and/or Direct PLUS Loan) prior to any loan origination.
If you are continuing into a further year of study on the same programme at the University, then you do not need to complete entrance counselling again.
Loan counselling will inform you of your rights and obligations. If you do not complete entrance counselling, we will not be able to originate your loan(s). You must complete entrance counselling by visiting the StudentLoans.gov website.

What next?
The University will verify the information you have provided. Your tuition fees will be confirmed by the Student Financial Support Team.
If any information is incomplete or incorrect then this will almost certainly delay the origination of your loans.
You will be notified of any adjustments to your loan eligibility and the amounts which will be originated by the University.
Once the University is satisfied with your eligibility and loan entitlement your loans will be originated. Information about how, and when, funds arrive is available under the 'receiving funds' tab below.
Please note that the University is required to supply the details of any loans originated for eligible students, and the details of the enrolment of those students, to the National Student Loan Data System (NSLDS).

Cost of Attendance
The Cost of Attendance is an estimate of your educational costs for the academic year that you are here. It will calculate the maximum amount you are eligible to borrow in federal aid minus any other aid such as scholarships or bursaries that you may be receiving.
The COA we apply is based on local costs. If you are in receipt of any bursaries, scholarships, or other aid you must inform us so we can factor this into your COA. Your cost of attendance will be calculated by the University and standard maximum costs are used. Attendance is calculated over the following periods:
  • Standard undergraduate: 35 weeks
  • Postgraduate taught: 51 weeks
  • PhD: based on length of course
Please note that we encourage all borrowers to only borrow what they need.

Undergraduate (35 weeks) – on campus housing

Cost type Weekly amount Total academic year
Living expenses: housing £193 £6,755
Living expenses: food and utilities £111 £3,885
Course costs £15 £525
Local travel £30 £1,050
Personal £103.50 £3,623
Flights ×2 £1,095
Visa application (first year only) £490
NHS surcharge (£776 per year) £776
PC & printer (first year only) £490.50
Loan origination fee* Will be applied at application
Maximum COA for living costs** £18,689.50

Undergraduate (35 weeks) – off campus housing

Cost type Weekly amount Total academic year
Living expenses: housing £153 £5,355
Living expenses: food and utilities £155 £5,425
Course costs £15 £525
Local travel £30 £1,050
Personal £103.50 £3,623
Flights ×2 £1,095
Visa application (first year only) £490
NHS surcharge (£776 per year) £776
PC & printer (first year only) £490.50
Loan origination fee* Will be applied at application
Maximum COA for living costs** £18,829.50

Postgraduate (51 weeks) – on campus housing

Cost type Weekly amount Total academic year
Living expenses: housing £193 £9,843
Living expenses: food and utilities £111 £5,661
Course costs £15 £765
Local travel £30 £1,530
Personal £103.50 £5,279
Flights ×2 £1,095
Visa application (first year only) £490
NHS surcharge (£776 per year) £776
PC & printer (first year only) £490.50
Loan origination fee* Will be applied at application
Maximum COA for living costs £25,929.50

Postgraduate (51 weeks) – off campus housing

Cost type Weekly amount Total academic year
Living expenses: housing £153 £7,803
Living expenses: food and utilities £155 £7,905
Course costs £15 £765
Local travel £30 £1,530
Personal £90 £5,279
Flights ×2 £1,095
Visa application (first year only) £490
NHS surcharge (£776 per year) £776
PC & printer (first year only) £490.50
Loan origination fee* Will be applied at application
Maximum COA for living costs £26,133.50
* The loan origination fee is an approximate amount. Actual origination fees will vary with type and value of loan.
** The maximum Cost of Attendance is a guideline of what you may be able to borrow. Other factors such as tuition fees, scholarships and course length will be taken into account and applied to your final Cost of Attendance.
Notes about items in tables listed above:
  • Tuition fees will also be included in your Cost of Attendance and will be set at the actual amount that you are required to pay.
  • Please note that the Cost of Attendance uses a theoretical exchange rate, which is reviewed annually. The funds you receive will vary according to the exchange rate at the time of each disbursement.
  • A conversion rate of 1.3% will be applied to convert your Cost of Attendance from pounds to U.S. dollars.
  • Living expenses: housing, food and utilities cover food and housing for the period of study only.
  • Other general costs associated with a student at the University have been included such as personal (socialising) and course costs (books and supplies). For first year students this includes the cost of the initial visa, NHS fees, and other money that the typical student needs to assist with their general living costs, for example a computer and printer.
  • Loan fees are based on typical borrowing averages for students in your programme.
  • Transportation includes two round trip flights to your home country and transportation in the UK during the period of enrolment.
If you have any other financial assistance, such a scholarship or other aid, you must notify us as this will affect your Cost of Attendance.
Study Abroad
You must undertake all academic activity in relation to your studies in the UK. If you do not do so, you may lose eligibility for Direct Loans for your studies. Exemption to this is set out below.
If your course includes a period of study at an academic institution outside the UK, you may still be eligible for federal loans. Your time abroad must:
  • not be more than 25 per cent of the total length of your course
  • be at an academic institution that has a written arrangement in place with the University of Plymouth.
If you intend to take a year of study abroad, please notify us at your earliest convenience studentfundingadvice@plymouth.ac.uk

Receiving funds
The University of Plymouth does not authorise the disbursement of aid directly to the student. You should not expect to receive funds prior to arriving in the UK.
Disbursement of Direct Loans will be on two (2) or three (3) separate dates coinciding with the nature of the degree programme you are undertaking. This is to allow the academic monitoring requirements mandated by the US Department of Education in the second and, if applicable, third payment periods.
Disbursement of Private Loans will be on one (1) occasion.
Please note that the disbursement date is the date that your financial aid is paid against outstanding charges on your student account at the University, and not the date that funds will be available to you. Any funds remaining after payment is made against your student account will be paid into your bank account. The University’s Student Accounts Team will contact you for details of your bank account.
You will be informed of the disbursement dates once your loan has been originated via a formal notification letter sent to you from the Student Funding Advice Team. Each loan disbursement is subject to you maintaining satisfactory academic progress and there are no changes to your status.

Anticipated Disbursement Dates
If there are any credit of funds due to be paid to you, this will normally be within seven working days of the dates as listed below.

Standard undergraduate programmes – continuing students:
  • 25 September 2024
  • 23 January 2025

Standard undergraduate programmes – first year, first-time borrowers:
  • 25 October 2024
  • 23 January 2025

Standard postgraduate taught programmes:
  • 25 September 2024
  • 23 January 2025
  • 28 May 2025

PhD/Doctoral programmes:
Dates will be confirmed once your loan has been originated.

Application of funds
Funds will be sent to the University directly and converted from $USD into £GBP. The University will then pay allowable charges (which include tuition and fees; including accommodation if you contract with the University) against your student account. You will be notified by email when funds have been paid against your student account. A statement will also be issued to you explaining how your charges have been calculated and either:
  • A request for the outstanding half or third (whichever is appropriate) of tuition/residence fees owed to the University is made, for payment by a determined date.
or
  • Any remaining funds will be paid directly into your UK bank account in £GBP no later than 14 days after payment has been made against your student account.

In light of the above, it is important that you:
  • Arrange to open a UK bank account either while you are still in the US or at the earliest available opportunity upon entry to the UK. If you are a continuing student, you must notify us of any changes to your bank account details. If you do not provide us with bank details then you will not receive your aid.
  • Plan on having sufficient funds available for accommodation, books, supplies and any other personal expenses during the first four to six weeks of classes in light of the timeframes outlined above or in the event that there is some delay in your financial aid arriving from the US.

Your right to cancel
Before your loan money is disbursed, you may cancel all or part of your loan. Your request will need to be made in writing 14 days before the disbursement date listed on your notification letter.

Withdrawal from your programme
If you choose to withdraw from your programme, you must inform the Student Funding Advice Team at studentfundingadvice@plymouth.ac.uk It is a legal requirement that the University performs a Title IV calculation to determine how much needs to be returned to the US Department of Education, including any refunds of tuition or accommodation costs.
Please note that the date of your withdrawal is also the date that you become responsible for repaying your loan.

Rights and responsibilities

Rights
You have the right to:
  • written information on your loan obligations and information on your rights and responsibilities as a borrower
  • a grace period and an explanation of what this means
  • a disclosure statement, received before you begin to repay your loan, that includes information about interest rates, fees, the balance you owe and the number of payments
  • deferment of repayment for certain defined periods, if you qualify and if you request it
  • forbearance, if you qualify and if you request it
  • prepayment of your loan in whole or in part any time without an early-repayment penalty
  • a copy of your promissory note either before or at the time your loan is disbursed
  • documentation that your loan is paid in full.

Responsibilities
You are responsible for:
  • completing exit counselling before you leave school or drop below half-time enrolment
  • repaying your loan even if you do not complete your academic programme (under certain circumstances), you are dissatisfied with the education you received or you are unable to find employment after you graduate
  • notifying your school and the Direct Loan Servicing Centre if you move/change your address or change your name
  • making monthly payments on your loan after your grace period ends, unless you have a deferment or a forbearance
  • notifying the Direct Loan Servicing Centre of anything that might alter your eligibility for an existing deferment or forbearance.

Change of circumstances
You have a responsibility to notify your lender and the University if your circumstances change.
This includes, but is not limited to:
  • Change of current address / phone numbers / name.
  • Change of Social Security Number.
  • Withdrawal / Deferral from University.
  • Become a part time student.
  • Change in anticipated graduation date.
  • Change of references.
  • Change of permanent address.

Resolving student loan disputes
If you think there might be an issue with your federal student loan, call your loan servicer to discuss the issue.
As a last resort, if you are unable to resolve the issue by working with your loan servicer, you may contact the Federal Student Aid (FSA) Office of the Ombudsman for assistance. The FSA Ombudsman works with federal student loan borrowers to resolve disputes or issues from an impartial, independent viewpoint.
You can reach FSA’s Ombudsman at:
FSA Ombudsman Group
P.O. Box 1843
Monticello, KY 42633
Phone: 1-877-557-2575
Email: fsaombudsmanoffice@ed.gov

Consumer information
This section provides access to relevant consumer information for students, families and staff members. An annual notice about the availability of Consumer Information is made prior to the first disbursement of any federal loan. The University will also make available paper copies on request.
If you have completed a Free Application for Federal Student Aid (FAFSA) and you or your family’s financial situation has been negatively impacted due to special circumstances resulting in a significant change to your household income, you may be eligible to have your financial aid adjusted.
Financial aid administrators have the authority to exercise professional judgement on a case-by case basis to make adjustments to student’s cost of attendance (COA) or figures within the Student Aid Index (SAI) to give a more accurate assessment of your/your family’s ability to contribute towards the cost of your education.
Professional judgements can be made in special or unusual circumstances. The FAFSA Simplification Act distinguishes between these two different categories of professional judgment.
  • Special circumstances refer to the financial situations (loss of a job, homelessness etc.) that justify an aid administrator adjusting data elements in the COA or in the SAI calculation.
  • Unusual circumstances refer to the conditions that justify an aid administrator making an adjustment to a student’s dependency status based on a unique situation (e.g., human trafficking, refugee or asylee status, parental abuse or abandonment, incarceration).
If you believe that your circumstances merit a professional judgment review, please contact studentfundingadvice@plymouth.ac.uk with details of your circumstances and any evidence to support your review.
Evidence could include (but is not limited to):
  • legal documentation (i.e., police/incident reports, court orders, Child Protective Service documentation, proof of incarceration or institutionalisation, death certificate, asylum, or refugee status, etc.)
  • at least two statements by professional third parties that confirm the relationship with your parents. Professional third parties can include clergy, counsellor, teacher, lawyer, etc. A personal acquaintance or family member is not considered a professional third-party.
  • a written statement from an attorney, guardian ad litem, a court-appointed special
  • a documented determination of independence made by a financial aid administrator at another institution in the same or a prior award year
  • utility bills, health insurance, or other documents that demonstrate a separation from parents or legal guardians.
Upon receipt, a financial aid administrator within the Student Financial Support Team will review the items submitted and make an assessment to determine if your federal student aid should be adjusted, they will also contact you if there are any questions about the information you have provided. Please note, a professional judgement review does not guarantee additional funding.
We ask that you allow ten working days for the team to review the documentation. The professional judgements are on a case-by-case basis and are at the discretion of the financial aid administrator. The decision made by the financial aid administrator is final and cannot be appealed to the U.S. Department of Education. Students will be notified by email once a decision has been made.

Academic programmes (academic majors and programmes)
Information about the University's academic programmes, including degree programmes, is available at http://www.plymouth.ac.uk.

Accreditation
The University is listed in the Education (Recognised Bodies) (England) Order 2010 as a recognised degree-awarding body. For further information please visit the Department for Business, Innovation and Skills website.

Code of Conduct for Education Loans
In order to prohibit a conflict of interest with the responsibilities of an agent with respect to private education loans, all agents at the University with responsibility for federal and private education loans from the USA are prohibited from the following:
  • revenue-sharing arrangements with any lender;
  • receiving gifts from a lender, a guarantor, or a loan servicer;
  • contracting arrangements providing financial benefit from any lender or affiliate of a lender;
  • directing borrowers to particular lenders or refusing or delaying loan certifications;
  • offers of funds for private loans;
  • call centre or financial aid office staffing assistance;
  • advisory board compensation.

Copyright infringement policies and sanctions (including computer use and file sharing)
For further details please consult the relevant section of the University's student regulations, policies and procedures .
View the University's policy on plagiarism .

Drug and alcohol abuse
The University operates a drug and alcohol abuse policy which is available within our code of conduct and disciplinary procedures .

Entrance Counselling
It is a requirement that all borrowers complete Entrance Counselling to be eligible to receive a Direct Loan. The University will not originate any loans for students who have not completed Entrance Counselling. Details about Entrance Counselling are available from https://studentaid.gov/.

Exit Counselling
It is a requirement that all borrowers complete Exit Counselling before ceasing at least half-time study. Further details about Exit Counselling are available from https://studentaid.gov/. The University will provide reminder notices to students due to graduate who have not completed Exit Counselling.

Facilities and services available to students with disabilities
Details of facilities and services available to students with disabilities are available from the Additional support for students with an impairment, health condition or disability team.

Student financial aid information
Please consult our information about Direct Loans at University of Plymouth .

Fire safety
Please consult the Fire Safety Advice website for further details. Fire-related incidents are reported to the University's Safety Committee.
Please also refer to our Fire Safety Policy .

Freedom of Information
Details about the University's publication scheme, and requests to the University's Freedom of Information co-ordinator, are available on our Freedom of Information page.

Graduate placement in employment, job placement rates and graduate and professional education choices of graduates
The Destinations of Leavers in Higher Education (DLHE) survey is reported on by the Higher Education Statistics Agency (HESA).
You can also view information at the University's careers and employability page.

Loan disclosures
Information about the disclosure of loans via NSLDS to loan servicers and other institutions deemed to be authorised by the US Department of Education, is available in the terms and conditions for requesting and receiving Title IV aid at the University.

Preferred lender lists
The University will work with whichever private lender a prospective borrower decides to use, if they are willing to work with us. Prospective borrowers should be aware that the majority of private lenders choose not to offer loans to students studying outside the USA.

Price of attendance
Tuition fee information for international students is available from our tuition fees pages.
Information about living expenses is available from international student advice .

Privacy of student records
The privacy of student records is encompassed within the University's compliance with the requirements of GDPR .
Please also see our policy on Accessing your information rights and find further details about information rights .
The Student contract and Student privacy notice both provide information about the use of personal data including where their data will be shared with third parties.

Private education loan disclosures
View further information about private education loans .
Prospective private education loan borrowers may qualify for loans or other assistance under Title IV, HEA programs and the terms and conditions of Title IV, HEA program loans may be more favourable than the provisions of the private education loans.

Refund policy, requirements for withdrawal and return of Title IV Financial Aid
View details about withdrawal from studies .
The University's Return of Title IV Aid Policy for students in receipt of a federal loan from the US Department of Education is available from the terms and conditions webpage associated with receipt of Direct Loans.

Retention, completion/graduation and transfer-out rates
Retention rates are available from the Higher Education Statistics Agency (HESA).

Satisfactory academic progress
The American government require that satisfactory academic progress is confirmed at each payment period to allow the student to receive their loan instalments.

Student body diversity
For further details please visit our equality, diversity and inclusion pages.

Student disciplinary procedures
Details of the University's expectations for student conduct and discipline, and of the Student Disciplinary Procedure, are available on our code of conduct and disciplinary procedures page.

Student loan information published by the U.S. Department of Education
Details about Title IV, HEA loan programs are available from the Federal Student Aid website.

Study abroad
Students spending a semester or a year in the UK can find further information from http://www.plymouth.ac.uk. Enrolment in a program of study abroad, approved for credit by the home institution, may be considered enrolment in that home institution for the purposes of applying for federal student financial aid. In these cases, Consortium Agreement from the home institution will be required by University of Plymouth.

Textbooks
The University issues lists of recommended reading; there are no required book purchases.

Transfer of credit policies and articulation agreements
The University operates an Accreditation of Prior Learning (APL) Policy.

Vaccinations
Information about student health and wellbeing can be found in Student Services .
Please register with the University Medical Centre , who can advise on vaccinations for students.

Terms and conditions of receiving financial aid

1. The University accepts no responsibility for any variation in currency exchange rates.
This applies to Direct Loans and variations between the points of a calculated Cost of Attendance, loan origination, and between the first, second, and - if applicable - third disbursements. As per US Federal Regulation 34 CFR 668.164, The University of Plymouth is bound to supplying this statement (and if appropriate issuing any remaining funds) no later than 14 calendar days after it initially disburses the originated funds.
This also applies to private loans and which may be subject to exchange rate variations between certifications and the negotiation of cheques received from lenders/sponsors for Private Loans.

2. For accounting purposes, and for the conversion of cheques only, the University operates a policy of fixing its $USD: £GBP exchange rate on a quarterly basis unless the rate variation is considered to be substantial at which point the rate is fixed on a monthly basis.
Funds received electronically are converted using the prevailing daily rate of exchange. The exchange rate you receive on cleared $USD funds may, therefore, differ from the published market rate at the time of loan origination. Your request for the origination of Direct Loans, and/or certification of Private Loans, by the University of Plymouth, constitutes acceptance of this. You will be informed of the rate of exchange by the University when funds are disbursed.

3. Federal regulations require that the first disbursement for Direct Loans for first-time first year undergraduate borrowers be no earlier than 30 days after the start date of the period of enrolment.
In addition, we suggest that you consider opening a UK bank account and to supply bank account details to the University in anticipation of receiving any remaining credit balance after funds are applied against eligible outstanding charges.

4. The University will provide an Award Letter as proof of funds for Direct Loan recipients.
The University will provide you with an Award Letter if you are a recipient of Title IV (Direct Loan) aid once your loans have been originated. You will be able to use this letter as funding evidence for your visa application.
Proof of funding for Private Loans must be obtained directly from the lender/sponsor, e.g., Sallie Mae. The University of Plymouth does not provide proof of funds for these sources of financial aid.

5. Eligibility for financial aid for continuing students is subject to satisfactory academic progress.
If you are receiving a Direct Loan you must satisfy the requirements of the Policy on Satisfactory Academic Progress (SAP) for Title IV Aid Recipients in addition to the University's progression requirements as outlined in the University of Plymouth regulations.
If you are receiving Private Loans you must satisfy the University's progression requirements as outlined in the University of Plymouth regulations.
The University will not originate Direct Loans, and/or certify Private Loans, should you fail to demonstrate satisfactory academic progress.

6. The University's Financial Aid Administrator(s)/Certifying Official(s) must be notified of any change(s) in circumstances leading to a change in registration.
If your circumstances result in a change to your registration at the University in any capacity (e.g. withdrawal, suspension of studies, transition from full-time to part-time study) you must notify the Student Financial Support Team at studentservices@plymouth.ac.uk immediately.
This is because there may be implications for your eligibility and receipt of Title IV aid. The University will apply the Return of Title IV Funds Policy on those occasions where a recipient of Title IV aid withdraws from study.

7. The University will disclose your loan details to the National Student Loan Data System (NSLDS).
The University is required, in accordance with Federal Regulations, to report the details of your loans, and any changes to your enrolment, to the US Department of Education - via the National Student Loan Data System (NSLDS) - within a specified timeframe. Please note that this information will be accessible to loan servicers and other institutions determined, by the US Department of Education, to be authorised users of the data system.
If you are in full-time study you will be reported as 'F - Full-Time'. If you are in part-time study OR you have transferred to 'submission pending' then you will be reported as 'H - At Least Half-Time'. If you are a postgraduate research student, and you submit your thesis, then from that date you will be reported as 'L - Less Than Half-Time'. If you suspend studies for longer than 180 days then you will be reported as 'W - Withdrawn'. When you receive your award you will be reported as 'G - Graduated'. If you are reported as being in Less Than Half-Time attendance, or that you have Withdrawn or Graduated, you will no longer be eligible for the in-school deferment of your loan repayments. For the terms of the repayment of your loans please consult your Master Promissory Note and/or the studentloans.gov website.

8. Right to Cancel.
Direct Loans: you may cancel all, or a portion of, your Direct Loans within 30 days of receipt of notification that your loans have been originated. If you ask the University to cancel all, or part of your loan, outside of this 30 day period then the University may process your cancellation request but is not required to do so.
You may return all, or part, of your loan to the US Department of Education within 120 days of the date that the University disburses your loan money (i.e. the date the money is credited to your student account at the University, or the date it is paid directly to the borrower or both). You must contact the Direct Loan Servicing Center for guidance on how and where to return loan money in these circumstances.
You do not have to pay interest, or the loan fee, on the part of the loan that is returned within 120 days of the date on which that part of the loan was disbursed. If you receive an up-front interest rebate on the loan, then the rebate does not apply to the part of the loan that is returned. Loans will be adjusted to eliminate any interest, loan fee, and rebate amount that applies to the amount of the loan that is returned.
Private Loans: refer to the terms and conditions of the loan.

Return of Title IV Aid policy
The University of Plymouth has a clear refund policy for students attending this institution.
The following is an addendum for students who are in receipt of US Federal student aid funds which have been authorised under Title IV of the Higher Education Act (2008). If a student who is in receipt of Title IV financial aid withdraws from the University and is due a refund of fees (tuition and/or residence) paid for that period of enrolment, a determination must be made as to whether any of the refund money must be returned to the US Federal aid programme.
This determination will be made in accordance with the Return of Title IV Aid (R2T4) requirements of section 484B of the Higher Education Act of 1965, as amended (HEA) and §668.22 of the Student Assistance General Provisions regulations. The Return of Title IV Aid requirements were added to the HEA by the Higher Education Amendments of 1998 (Public Law 105-244, enacted October 7, 1998). These requirements prescribe how Title IV funds must be treated when a Title IV student aid recipient withdraws from an institution without completing the payment period or period of enrolment, as appropriate.
If it is determined that refund money must be returned to the aid programme, the distribution of funds will be as follows:
  • Federal Stafford Unsubsidised
  • Federal Stafford Subsidised
  • Federal PLUS.

Summary
When a student withdraws during a payment period then the amount of Title IV program assistance that has been earned up to that point is determined by a specific formula. The date of withdrawal is the earlier of the date the student notified the University of their intent to withdraw or the date the student submitted the withdrawal form. If the student received (or the University received on the student’s behalf) less assistance than the amount which has been earned then the student may be able to receive those additional funds. If the student received more assistance than was earned then the excess funds must be returned by the University and/or the student.
Without an official Withdrawal Form, the University will use the last date of attendance to compute the R2T4 formula.

Date of withdrawal
In a case where a student notifies the University that he or she intends to withdraw then the student will be informed of the need to complete the official Withdrawal Form and document the date the student notified them. Should the student fail to file the Withdrawal Form or there is a lag between the notification and the filing of the form, the earlier date of notification will be used in calculating the R2T4 formula. In the event a student receives all failing grades for a semester, the Program Director will contact the faculty members to determine if the “F” grades were earned or represent a lack of attendance. In the event it is determined that those grades were the result of lack of attendance then the Program Director and faculty will attempt to determine the last day of attendance and use that date in the R2T4 calculations. If the exact date cannot be determined, the University will assume a 50 per cent attendance and use that date as the last date of attendance. Students who do not attend even one class are ineligible for Title IV funds and all of the loan proceeds will be returned to the lender.

Calculating the amount of assistance earned
The amount of assistance earned is determined on a pro rata basis. The payment period is the period for which the loan was certified and the percent of attendance is calculated by dividing the number of days attended by the total number of days in the payment period. For example: if a student completes 30 per cent of the payment period or period of enrolment then they have earned 30 per cent of the assistance which they were originally scheduled to receive. Once the student has completed more than 60 per cent of the payment period or period of enrolment then all the assistance that the student was scheduled to receive for that period is considered to have been earned. If the student did not receive all of the funds that were earned, he or she may be due a post-withdrawal disbursement. If the post-withdrawal disbursement includes loan funds then the student may choose to decline the loan funds so that additional debt is not incurred. The University will use the R2T4 worksheets as provided by the US Department of Education to determine how much of the loan may be retained and how much must be returned.

Post-withdrawal disbursements
The University may automatically use all or a portion of a post-withdrawal disbursement (including loan funds, if the student accepts them) for tuition, fees, and room and board charges (as contracted with the University). For all other University charges, the University needs the student’s permission to use the post-withdrawal disbursement. If the student does not give permission the student will not be offered the funds.
There are some Title IV funds that students may be scheduled to receive which cannot be earned once a student withdraws because of other eligibility requirements. For example, in certain circumstances, if a first-time, first-year undergraduate student has not completed the first 30 days of the program before withdrawal, the student will not earn any loan funds that he or she would have received had they remained enrolled past the 30th day. If the student receives (or the University receives on behalf of the student) excess Title IV program funds that must be returned, the University must return a portion of the excess equal to the lesser of:
1. The institutional charges multiplied by the unearned percentage of the funds, or
2. The entire amount of excess funds.
The University will return this amount even if it did not keep this amount of the Title IV program funds. If the University is not required to return all of the excess funds, the student must return the remaining amount. The student repays any loan funds that must be returned in accordance with the terms of the promissory note. That is, scheduled payments are made to the holder of the loan over a period of time. Students who have received a refund of their loan proceeds before withdrawing may be required to return part or all of those funds to the lender. The University may also attempt to collect from the student any Title IV program funds that the school was required to return.
 

Federal Student Aid

The US Department of Education have produced some videos on applying for Federal Student Aid which you may find helpful. Please be aware that you will not be eligible for a grant if you study at a foreign school.
In addition to this, you can also find information on the Federal Student Aid website and Facebook page.