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Receiving your loan

Federal Regulations set the maximum number of days we can hold your disbursement and you cannot have your disbursement before Registration (30 days after registration if a first time borrower) or outside the ‘loan period’ – the loan period normally follows the academic year. Following a change in the US law in 2006, the University now is required to disburse loans in instalments. Generally this means that you will receive a proportion of your loan at the start of each term.

Disbursement of your first instalment is conditional upon you completing entrance counselling. University policy requires the University to ensure that all students in receipt of US financial aid complete entry and exit counselling and to keep a record of completion for audit purposes. The University currently asks all students to complete this online and you will be sent further information about this once you have confirmed that you intend to apply for financial aid.

Disbursement of your final instalment is similarly conditional upon you completing exit counselling. Again, you will be sent further information shortly beforehand.

Both entrance and exit counselling can be done online at Please ensure that you select the correct option. If you have Direct and PLUS loans you only need to undertake one combined counselling session.

All Federal Aid will be disbursed to the University. Once received, the loan amount will be converted from US dollars into sterling. We will then deduct the fees due for tuition and accommodation (if applicable) and transfer the residue into your UK bank account. This process normally takes 4-5 working days.

Please note that your first loan disbursement will be made towards the end of your first month of registration. We suggest that you bring sufficient funds to cover this period.