US Federal Loans
Once your loans have been certified you will receive confirmation of the amounts, disbursement dates and amounts. This letter may be used as proof of funding for Visa purposes.
The first disbursement takes place in September for all students and funds will be requested from the US Dept of Education only when you have registered.
Please ensure that you have sufficient funds to see you through the first 3-4 weeks. This will allow time for you to open a UK bank account, your loan funds to be disbursed and the initial cheque to clear in your account.
The disbursement dates provided are estimated. Please do not depend on funds being credited to your account on that date. You may need to allow 5-6 working days for the whole release of funds process to complete.
If your registration in September is delayed this can affect the release of your first disbursement. For subsequent disbursements, delays in obtaining confirmation of your Satisfactory Academic Progress will also affect the release of funds.
- 26 September 2019 for continuing students
- 29 January 2020
- 21 May 2020 (Postgraduate students)
The disbursement dates provided are estimated. Please do not depend on funds being credited to your account on that date. You may need to allow 5-6 working days for the whole release of funds process to complete. New students must have opened a Uk account before we can disburse your loan
Exit Counselling Requirements
- You need to contact the US Federal Loans mailbox and request a bank account details form.
- On your disbursement date SallieMae will send a cheque from the US to the University.
- The cheque is co-payable to you and the University. When we receive it we will e-mail you at your student address and ask you to call in to endorse the back.*
- When you have endorsed the cheque we will bank it and exchange it into sterling.
- Your tuition fees will be deducted (third fees if you have opted for 3 loan disbursements) and the remainder will be refunded directly to your UK bank account.
*GCU London Students - I will mail the cheque to GCU London for you to endorse and they will return it to me.