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    United States Department of Education (USDE) Direct Loans 2015/16

    Middlesex University is licensed to administer and certify loan applications for the USDE Direct Loan programme on behalf of eligible US students. The Direct Loan (Stafford loan) and Direct Loan Plus are educational loans borrowed from the USDE, with interest rate and other terms set by the US Federal Government. The School Code for Middlesex University is G21805. Sue Day is responsible for US loans and is based in the Academic Registry department.

    Applying for a Loan

    In order to apply for financial aid students should complete the Free Application for Federal Student Aid (FAFSA). Applying on-line will speed up the processing of your application. To apply on-line you will need to create an FSA ID from the Department of Education. This will allow you to electronically sign your application. If you are an undergraduate student then one of your parents will also need to request an FSA ID as they will be required to sign for any information which they enter electronically.

    After you have applied you can check the status of your application and make amendments if necessary. If you have previously applied for a Stafford loan, you should complete the Renewal FAFSA. You will be asked to update your details such as income and assets.

    Male applicants must have signed up for selective service in order to be eligible for Direct Loans.

    If you list your email address on your FAFSA application you must contact the US Department of Education directly, a few days later on +1-800-4FEDAID and request they send you a 10 page hard copy SAR. SAR’S are NOT automatically sent to Foreign Schools.

    The University will only accept the full 10 page SAR (required for audit purposes) and on receipt of the original document (or PDF copy) will assess your eligibility for aid. SAR'S are NOT automatically sent to Foreign Schools.

    The University will only accept the full 10 page SAR (required for audit purposes) and on receipt of the original document (or PDF copy) will assess your eligibility for aid.

    Types of Direct (Stafford) Loan

    There are two elements comprising the undergraduate Stafford loan - Subsidised and Unsubsidised. Subsidised loans are interest-free to students while studying at University for at least half-time and during a six-month grace period after leaving University. Unsubsidised loans accumulate interest while students are at University.

    Postgraduate students are entitled to the $20,500 unsubsidised Stafford Loans.

    Cost of Attendance at Middlesex University: 2015-2016

    The Cost of Attendance (COA) is our estimate of the cost for a student to attend Middlesex University for the academic year beginning 1 September 2016 – 31 August 2017. The COA includes tuition fees, rent, books and living expenses. Your Middlesex COA will be calculated once your 10 page SAR is received/faxed/emailed. This is the maximum amount that may be borrowed for the year and any awards toward tuition fees must be deducted from the total COA.

    Your financial need is determined by the difference between the Cost of Attendance (COA) at Middlesex University and your Expected Family Contribution (EFC). This figure can be found on page 1 at the top right-hand corner of your SAR.

    The maximum Stafford Loan that you can borrow as a dependent Undergraduate student is $5,500 ($2,000 of this is subsidized) in your 1st year, $6,500 ($4,500 of this is subsidized) in your 2nd year, and $7,500 ($5,500 of this is subsidized) in your 3rd year. The maximum that you can borrow as an independent Undergraduate student is $9,500 ($3,500 of this subsidised) in your 1st year, $10,500 ($4,500 of this subsidised) in your 2nd year, and $12,500 ($5,500 subsidised) in your 3rd year.

    Should a parent/parents be denied a Parent PLUS loan then the independent amounts will also apply to dependent students.  Proof of refusal must be provided before dependency may be overridden.  In this case a PLUS loan is not allowed and the only COA top-up option would be via a private loan.

    A postgraduate student can take out an annual maximum Stafford loan of $20,500 (all unsubsidised).

    Graduate Plus Loans

    These are also fixed interest loans with a slightly higher rate of interest than the Stafford and may be used to top-up borrowing needs to the maximum COA if required, provided your credit check is successful.  If your credit check is refused you may appeal against the decision direct to the USDE. Subsequent failure means you will need a credit worthy endorser in order to proceed.

    Private Loans

    Private loans are the only other way to top-up borrowing but may attract higher rates of interest. To date, Sallie Mae is the only known provider of private loans.

    USDE Loans must be disbursed in equal instalments on the first day of term.  For October 2016 entrants there will be 2 disbursements, w/b 3 October 2016 and w/b 9 January 2017.

    Private loans are not subject to these restrictions.  Go to www.salliemae.com for information.

    Requirements from Financial Aid Staff at Middlesex University

    Before your loan can be processed by the University:

    • You must have received and accepted an unconditional offer of admission or already be enrolled as a student at Middlesex University.
    • You should mail your original Student Aid Report for the relevant academic year to Sue Day.  Please take a copy of your SAR before submitting it.  Although you may be informed that your SAR has been sent to Middlesex University electronically, please note this service is NOT available to FOREIGN SCHOOLS.
    • You must complete the entrance counselling interview/s before we are able to apply for your loans and must also complete the exit counselling interview at the end of your programme – whether on completion or withdrawal from your studies.

    Please mail the original SAR to:

    Sue Day
    Middlesex University
    Academic Registry
    The Burroughs
    London NW4 4BT
    UK

    Once your eligibility to receive Federal Aid has been confirmed you will be given further instructions on how to proceed. We will apply for your loans direct to the USDE website – once everything is confirmed (including credit checks, if required) we will issue your UKBA letters necessary for your visa application.

    NB – loans for 2016/17 may NOT be processed before 1 July 2016 due to upgrades on the USDE website.

    Please read the documents below:

    Satisfactory Academic Progress Policy for Financial Aid 2015 Recipients

    Return of Funds Policy 2014


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