US government loans or private education loans to help American students fund their studies at Middlesex University.
The Direct Loan and Direct Loan Plus are educational loans borrowed from the US Department of Education, with terms set by the US Federal Government. The loans are also known as Title IV Federal Aid.
For information on loan availability see Home | U.S. Department of Education
Middlesex University is licensed to administer and certify loan applications for the US Department of Education Direct Loan programme on behalf of eligible US citizens.
Our School Federal Direct Loan code is G21805.
Private educational loans are an option for US citizens who are ineligible for US Federal Direct Loans, or as additional or alternative sources of funding to Federal Direct Loans. Students are advised to consider the terms and conditions carefully in comparison with Federal Direct Loans.
Sallie Mae Student Loans and Earnest are the two US lenders of private loans available to US citizens studying at a foreign school.
Middlesex University is not currently participating in the US Veteran Affairs Educational benefits program.
The University does not currently complete IRS Tax Form 1098-T for students, or parents of dependent undergraduate students, to claim an education tax credit.
The University does not have an Employer Identification Number (EIN) which is required on the tax form.
The eligibility criteria for US Federal loans are determined by the US Department of Education.
In addition to the criteria specified on the Federal Student Aid website, a student must meet all of the following criteria:
The qualification is the academic title conferred upon a student who has successfully completed a valid programme of study, for example, an undergraduate degree such as BA Criminology or a postgraduate taught degree such as MSc Banking and Finance.
Qualifications are awarded at various levels requiring different amounts and levels of credit, for example, Undergraduate Degree with Honours requires 360 credits and Postgraduate taught Master’s Degree requires 180 credits.
A qualification is made up of modules, self-contained, credit-rated and assessed unit of study. Modules normally run for an academic year of 24 learning weeks, but some are different in length.
Each module carries a credit rating, with most modules rated at 30 credits. Some modules are rated at 15, 20, 40, or 60 credits. The number of credits awarded to a student follows an evaluation of learning, assigned to a particular qualification.
A full-time student studying an Undergraduate Degree will normally take 120 credits during the academic year (24 learning weeks), for 3 academic years. Exceptionally, a student may take 150 credits in an academic year, with permission of the Deputy Dean or nominee.
A full-time student studying a Postgraduate taught Master’s Degree will normally take 120 credits during the academic year (24 learning weeks), followed by a 60-credit dissertation.
Loan type | Direct subsidised / unsubsidised loan | Parent PLUS loan |
|---|---|---|
Eligibility | Eligible US citizens or non-citizens studying an eligible undergraduate degree-bearing programme Dependent or independent student (as assessed by FSA) | Parents and dependent students eligible for federal student aid studying an eligible degree-bearing programme |
Federal Loan maximum | Year 1 Year 2 | Outstanding balance after deductions from the Cost of Attendance |
Loan type | Direct graduate unsubsidised loan | Direct graduate PLUS loan |
|---|---|---|
Eligibility | Eligible US citizens or non-citizens studying an eligible postgraduate degree-bearing programme | Eligible US citizens or non-citizens studying an eligible postgraduate degree-bearing programme |
Federal loan maximum | $20,500 | Outstanding balance after deductions from the Cost of Attendance |
US Federal Loans accrue interest, and there are fees associated with the loan. The amount of interest and the fees will impact on the amount that is repaid.
The US Federal Government calculates and sets the interest rates for Direct Loans annually from 1 July see Interest Rates and Fees for Federal Student Loans. The interest rate that applies to a loan is determined by the date of the disbursement.
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 2023 to 31 August 2024.
An individual assessment of the COA is calculated on submission of the individual Student Aid Report (SAR) to the Student Financial Support Team.
The COA includes typical borrowing averages per programme for one academic year:
Individual financial need is determined by the difference between the Cost of Attendance (COA) at Middlesex University and the Expected Family Contribution (EFC). The EFC amount is located on the top right-hand corner of the SAR.
The amounts listed are subject to change if the offer eligibility changes, or there is additional aid from another source, or there is a change in enrolment status.
Private Loans are not subject to these restrictions.
Students can choose to borrow less than the maximum COA.
If required, further funds can be requested later in the academic year, up to the maximum Cost of Attendance (COA).
The exchange rate used by Convera to convert US Department of Education loan dollars credited to their account to disburse to students may differ from the exchange rate used for the 2023-24 Cost of Attendance (COA) calculations.
Any fluctuation (high or low) will affect the amount of loan disbursed into a student’s UK bank account.
US DoE loans are disbursed in two equal instalments from the dates shown below and are paid via electronic funds transferred into a UK bank account or by cheque where loans cannot be disbursed electronically.
Students must have provided confirmation of their bank details, be enrolled, and have had an ID check before loans are disbursed.
Please note that payments to a students’ account can take up to 7 working days from the disbursement date detailed below and is conditional on completion of enrolment and an ID check.
Please note that the second disbursement is subject to confirmation of Satisfactory Academic Progress and the Programme Leader will be contacted to confirm this prior to the disbursement.
First disbursement (payment) | Second disbursement (payment) |
|---|---|
From Monday 25 September 2023 | From Monday 15 January 2024 |
US Department of Education Loans are disbursed in three equal instalments from the dates shown below and are paid via electronic funds transferred into a UK bank account.
Students must have provided confirmation of their bank details, be enrolled, and have had an ID check before loans are disbursed.
Please note that payments to a students’ account can take up to 7 working days from the disbursement date detailed below and is conditional on completion of enrolment and an ID check.
The second and third disbursements are subject to confirmation of Satisfactory Academic Progress and the Programme Leader will be contacted to confirm this prior to these disbursements.
First disbursement (payment) | Second disbursement (payment) | Third disbursement (payment) |
|---|---|---|
From Monday 25 September 2023 | From Monday 22 January 2024 | From Monday 20 May 2024 |
Study or research outside of the UK falls under the requirements for Written Arrangements.
Study or research is permitted outside of the requirements for written arrangements provided that Middlesex University can demonstrate that the study or research is authorised by an external accreditation body.
Where the study or research doesn’t have the required accreditation, Middlesex University can certify loans for programmes where 25% or less is taught at an ineligible institution so long as the programme meets the requirements for written arrangements Program Eligibility, Written Arrangements, and Distance Education
A research student conducting independent research can complete up to one academic year during the dissertation phase of a doctoral programme (where the research can only be conducted in the US).
A student's enrolment in a programme of study abroad, approved for credit by the home institution, may be considered enrolment at the home institution for the purpose of applying for assistance under the title IV, HEA program.
To request an assessment of the eligibility of your selected institution contact the Student Financial Support Team at USloans@mdx.ac.uk. The chosen institution must meet the conditions of the regulations to be eligible for study or research outside the UK.
In order to maintain eligibility for financial aid a student must maintain the academic standing necessary to continue to study at Middlesex University.
Satisfactory Academic Progress includes two standards: Academic performance and Volume and length of study. Students must meet both standards to continue to receive financial aid.
Failure to maintain Satisfactory Academic Progress may result in the cancellation of financial aid awards, and the student may be required to repay any funds dispersed to them.
The academic standing necessary to continue to study at Middlesex University and receive financial aid is available here.
To meet Satisfactory Academic Progress standards, students studying Undergraduate degrees, where the requirement is to take 120 credits over one academic year, must pass a minimum of 90 out of 120 credits (i.e., a pace of 75%) per year.
Students studying Postgraduate taught degrees, where the requirement is to take 180 credits over one academic year, must complete a minimum of 120 credits out of 180 credits per year to meet SAP standards.
Details on assessment and progression for post-graduate research degrees can be found in the University Research Degree Regulations available here https://www.mdx.ac.uk/about-us/policies/academic-quality/handbook.
It is the responsibility of all students, including students in receipt of a US Federal and private loans, to immediately notify the University of their intention to withdraw or temporarily withdraw (interrupt studies) for more than 180 days.
Student in receipt of US Federal and private loans must:
Students in receipt of a US Federal loan are subject to the withdrawal liability points and eligibility to refunds as shown in the US Loan Refund Policy. This applies to students who choose to permanently or temporarily withdraw or are withdrawn by the University.
Standard University liability points and student’s eligibility to refunds as stated on the Withdrawals and Interruption webpage is not applicable to students in receipt of a US Federal loans.
The University is required to notify the US Department of Education when a student chooses to permanently or temporary withdraw (interrupt their studies), or when the student is withdrawn by the University.
A student ‘earns’ Federal aid on a daily basis and when a student chooses to withdraw (permanently or temporarily) or is withdrawn by the University, any ‘unearned’ aid for that payment period must be returned by the student to Middlesex University as soon as the student receives notification of the amount to be returned.
External debt collection agencies
The University reserves the right to refer debt in respect of any ex-student to an external debt collection for recovery.
A ‘Return to Title IV’ (R2T4) refund calculation is completed to determine the amount.
A student is required to be enrolled on their programme in order to receive a US Federal Loan. Applicants with a US Federal Loan entitlement and who do not enrol at the start of their academic year, will have their loan cancelled by the University.
All students in receipt of a Federal Loan are required to complete Exit Counselling when graduating, leaving school, such as permanently withdrawing, or dropping below half-time enrolment.
Completing Exit counselling is the responsibility of the student in receipt of a Federal loan.
Follow the below steps for applying for a US loan:
If you decide to continue with your loan application, follow the next steps:
Student Financial Support Team at USLoans@mdx.ac.uk
