Disbursement of federal loan funds will be made in three equal instalments at the beginning of each term. The dates will be in the ‘Notification of Student Loan’ letter sent to you once your federal loan(s) have been processed and completed by our office.
The actual amount in GBP £ you receive will vary as it’s dependent upon the exchange rate from USD $ to GBP £ at the time of disbursement.
The funds will be wired to your college at the beginning of each term. Please inform your college that you'll be taking federal loans and discuss with them (before the beginning of the academic year) the amount to be taken in fees etc. and returned to you for maintenance (living expenses) from each instalment.
In case the issuing of federal loan funds from the US is delayed for any reason please ensure you have sufficient funds to tide you over for a couple of weeks at the beginning of each term.