The University requests that Stafford and PLUS/GradPLUS loans are disbursed in three (3) instalments, in accordance with US regulations. The first disbursement of any Stafford or PLUS/GradPLUS loan can only be collected from the University after confirmation of attendance is established, in accordance with US regulation. Disbursement dates generally fall in October, January and April of each academic year.
Entrance Counselling must be completed prior to receipt of the first loan cheque and Exit Counselling must be completed prior to receipt of the final loan cheque. Students will be emailed when required to complete a counselling session.
All disbursements are subject to the following conditions:
• You are making satisfactory academic progress
• You are enrolled at least half time or more
• You are not in USA
• You have not violated any federal compliance regulations (such as repayment default, fraud, drug offences).
Once we receive your loan funds from the U.S. Department of Education the Finance Office at the University of East Anglia will use these to pay off your tuition fees and any accommodation costs for the period due.
If there are any funds remaining from the disbursement these will be paid to you in £ Sterling by the Finance Office either by cheque or directly in your bank account. You will need to contact the Finance Office to arrange payment into your bank account.
Remember there are deductions taken from the value of your loans. The U.S. government deducts an 'Origination Fee' from each disbursement: 1% from the subsidised and unsubsidised loans, and 4% from the PLUS loan.
Sallie Mae – Private Loans
If you have private loan from Sallie Mae, then they will normally send us a US$ cheque to us that will need to be co-signed by you the student and the University. This cheque will then be deposited in our $ account and the Finance Office will use these to pay off your tuition fees and any accommodation costs for the period due. Any funds left over will be disbursed to you in £ Sterling.
Entrance Counselling must be completed prior to receipt of the first loan cheque and Exit Counselling must be completed prior to receipt of the final loan cheque. Students will be emailed when required to complete a counselling session.
All disbursements are subject to the following conditions:
• You are making satisfactory academic progress
• You are enrolled at least half time or more
• You are not in USA
• You have not violated any federal compliance regulations (such as repayment default, fraud, drug offences).
Once we receive your loan funds from the U.S. Department of Education the Finance Office at the University of East Anglia will use these to pay off your tuition fees and any accommodation costs for the period due.
If there are any funds remaining from the disbursement these will be paid to you in £ Sterling by the Finance Office either by cheque or directly in your bank account. You will need to contact the Finance Office to arrange payment into your bank account.
Remember there are deductions taken from the value of your loans. The U.S. government deducts an 'Origination Fee' from each disbursement: 1% from the subsidised and unsubsidised loans, and 4% from the PLUS loan.
Sallie Mae – Private Loans
If you have private loan from Sallie Mae, then they will normally send us a US$ cheque to us that will need to be co-signed by you the student and the University. This cheque will then be deposited in our $ account and the Finance Office will use these to pay off your tuition fees and any accommodation costs for the period due. Any funds left over will be disbursed to you in £ Sterling.
