Loan Disbursement & Exit Counselling

Loan Disbursement

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.

Disbursement Dates

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.

  • 22 September 2020 for continuing students
  • 25 January 2021
  • 17 May 2021 (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 

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.

 

Satisfactory Academic Progress

Students attending the Glasgow Caledonian University and who are in receipt of Federal Aid are required to make satisfactory progress in their degree program.

We are required by the US Department of Education to check the progress of students and we will do this prior to releasing second and (where applicable) third disbursements. Please note that the Federal Loan regulations stipulate that students may not take more than 150% of the normal duration to complete their studies.

Postgraduate Students
  • The end of a programme for Masters degrees is September and not the graduation date. Please note if you leave the UK early and return to the US to complete your dissertation that period is ineligible for Federal Loans and you may be asked to repay some of the funds you have received.
  • For PHD programmes the end of the programme is deemed to be the date your dissertation is submitted.

 

Exit Counselling Requirements

When your enrolment at the Glasgow Caledonian University ceases you are obliged to complete exit counselling. This includes graduation, withdrawal from University, transfer to another school or drop to a less than half time study basis.

You will be asked to complete your counselling session on the National Loan Data System (NSLDS) site. This session takes approximately 30 minutes and provides you with information on your rights and the repayment of your loans. You will need the PIN used for your FAFSA application.

Please e-mail the US Federal Loan mailbox when you have done this and she will retrieve this and update your loan records.

Sallie Mae

  • You need to contact the US Federal Loans mailbox and request a bank account details form.
  • Before your disbursement date we will email you a link and a separate password so you can input your bank account details with Western union, your funds will be paid to your nominated account by electronic transfer.
  • 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.

 

United States Department of Education - Return to Title IV (R2T4) Regulations

The law specifies how the Glasgow Caledonian University must determine the amount of Title IV program assistance (Direct Loans) that students earn if they withdraw from the University.

Accounts Receivable department is responsible for calculating R2T4 and for returning the funds to the Department of Education. The finance team  uses worksheets provided by the US Department of Education to calculate the R2T4 funds. All funds must be returned to the lender within 45 days of the date of when the University determines that a student withdrew. If you have questions about your Title IV program funds, students can call the Federal Student Aid Information Center at 1-800-4-FEDAID  (1-800-433-3243).  Information is also available at Student Aid on the Web at https://studentaid.gov/.

When a student withdraws during a payment period, the amount of Title IV program assistance that has been earned up to that point is determined by a specific formula. The date of withdrawal is determined by the relevant school programme team as advised by the student’s Department and would be the last day attended. If the student received (or the University received on the student's behalf) less assistance than the amount that is earned, the student may be able to receive those additional funds. If the student received more assistance than was earned, the excess funds must be returned by the University and/or the student.  The University attendance monitoring process is in place to ensure compliance rules are met for students on a Tier 4 visa.