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Sallie Mae and Earnest are the only lenders of which we are currently aware that will lend funds for private loans to US students studying outside the US.

If ONLY taking a Private Loan please fully complete the following spreadsheet:

COA for Private Loan 2023 - 2024 

Please e-mail once you have successfully completed an application for a private loan, making sure that you attach a copy of the fully completed COA for PRIVATE LOAN ONLY 2023 - 2024 spreadsheet which should include your yearly cost of attendance (composition (tuition) fee, college fee (if applicable), maintenance (living expenses) (not applicable for part-time students) and non UK settling in figure (if applicable)) and full details and amounts of any of the extras you require detailed on the 'Cost of Attendance' page of the US loans website. Please also Include details and amounts of any additional financial aid you are receiving.

As federal loans generally have more favourable terms and conditions than private loans, please ensure you check interest rates, compare terms and conditions and thoroughly investigated the possibility of taking out federal loan(s) before applying for a private loan.

If you find another lender we would be willing to work with them.

Sallie Mae Loans:

You can apply directly with Sallie Mae here - Sallie Mae Student Loans

You can also apply for a private loan with Sallie Mae via GEMS (Global Education Management Services) at an organisation dedicated to handling Sallie Mae loans for students at foreign schools. You can also apply directly with Sallie Mae.

Sallie Mae is an organisation experienced in lending to and dealing with US students studying outside the US.

Credit reports and risk scores obtained during the application process on all applicants and co-signers will be valid for 365 days. Students and families will be able to apply with Sallie Mae up to 300 days prior to the loan period begin date. Please note that our offices will start processing these applications in May for the academic period starting in September/October.

If a private loan is required please apply on the main University of Cambridge’s school code (G04030) if applying for an MBA, EMBA, MSt or MAC (Master of Accounting); otherwise, please apply for one on your College’s school code. The codes can be found here - Application procedure . The maximum that can be borrowed on a private loan is the yearly cost of attendance (plus any of the extras mentioned on the 'Cost of Attendance' page of the US loans website) less any financial aid (loans, awards, bursaries, scholarships etc.).

Once your private loan has been certified Sallie Mae should send you a letter of confirmation which if required for 'visa' purposes will be sufficient proof that you have a private loan.

Exchange of loan funds from US$ to GBP£ - Convera UK Financial Limited determine the exchange rate on the day they receive US$ loan funds drawn down from Sallie Mae. We’re only advised of the rate being used by Convera when we receive the e-mailed notification on the day they post US$ loan funds to the University or College’s £’s sterling bank account.

Convera UK Financial Limited don’t charge any additional commission or a transaction fee for processing funds received by them from Sallie Mae.

Earnest Loans:

You can apply for a loan through Earnest via the following link -

Below are some features that Earnest Loans have:

  •  Very competitive rates 
  •  9 month grace period after graduation (50% more than other lenders)
  •  .25% auto pay interest rate reduction
  •  Easy to use mobile application
  •  4 repayment options while attending school
  •  No fees

Funds being released from Earnest are currently sent to our offices via EFT payment via Convera UK Financial Limited/. The funds are then sent to your College to be used towards fees/accommodation/charges. Any remaining funds will be paid to your personal bank account.


Juno is an organization that negotiates and advocates for lower interest rates with lenders on behalf of students. Juno membership is free and bears no commitment.

More information can be found on their webpage - Join Juno - Cambridge

Please note that Juno is not a lender - they negotiate with lenders for lower interest rates.