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Once you have completed the required processes as detailed in the email we will have sent you on receiving your FAFSA we will certify your federal loan(s), and send a ‘Notification of Student Loan' letter to you. This letter will be attached to the email we send once your federal loan(s) have been processed and completed by our office. You will be able to use this letter to support your visa application.

You should ensure that you have sufficient funds from an alternative source to cover any costs until you receive your first disbursement.

You must be fully enrolled before your funds can be requested from the US Dept. of Education.  If you have not completed your enrolment by the deadline your loan disbursement will be postponed to the next scheduled disbursement date.

Although it is standard practice to invoice students for all fees at the beginning of the academic year, a special dispensation is made for students taking federal loans. Instead, your College will arrange for your fees to be paid in instalments that correlate with your US loan payments.

Federal loans are drawn down via Convera UK Financial Limited and paid in equal instalments to your College. The US Dept. of Education stipulates that federal loans must be paid in equal instalments.

The actual amount in GBP £ you receive will vary as it’s dependent upon the exchange rate from USD $ to GBP £ at the time funds are received by Convera UK Financial Limited.

The disbursement dates are when your College will receive the loan funds and not the dates that you will receive any funds remaining for maintenance (living costs).

Within three working days of receiving the funds, your College will deduct a proportion for fees and accommodation (if being paid to your College). They will then pay the balance to you within 14 calendar days for maintenance (living costs). Please note US loan regulations require that Colleges pay US federal loan funds to you within the specified time scales and Colleges cannot usually hold funds on your student account beyond these dates.

Please see below the main scheduled disbursement dates dependent on the length of your course:

  • Undergraduate courses, 9 month and 10 month Postgraduate courses: October 10 2024 and March 06 2025
  • 11 month Postgraduate courses: October 10 2024 and March 20 2025
  • MBA and MFIN courses: September 19 2024 and March 20 2025
  • 12 month Postgraduate courses and PhD courses: October 10 2024 and April 24 2025

The scheduled disbursement dates will be in the ‘Notification of Student Loan’ letter which will be attached to the e-mail we send you once your federal loan(s) have been processed and completed by our office.