Receiving your loan
Federal Regulations set the maximum number of days we can hold your disbursement. You cannot have your disbursement before course Registration or outside of the 'loan period' (the loan period normally follows the academic year).
Please be advised that disbursement may be 30 days after course Registration if you are a first time borrower.
Disbursement - instalments
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.
Entrance and exit counselling
Both entrance and exit counselling can be completed online. Please ensure that you select the correct option. If you have Direct and PLUS loans you only need to undertake one combined counselling session.
How will the funds reach the University?
All Federal Aid will be disbursed to the University. The University receives your loan in the form of a bank transfer directly into our US dollar account. Once received, the loan amount will be converted from US dollars into sterling.
When will any loan amounts reach me?
The University will deduct any tuition fees and/or accommodation charges (if applicable) from the funds received and then transfer the residue into your UK bank account. This process normally takes 4-5 working days.
Your first loan disbursement will be made towards the end of your first month of Registration. The following gives you some guidance as to when the University will be disbursing your loan. However, please be advised that these are approximate date guidelines as there may be a requirement to allow for statutory holidays. We suggest that you bring sufficient funds to cover the period before your first disbursement :
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Undergraduate (3 instalments) |
Start of Academic Year + 2 weeks |
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Start of Spring Term + 1 week |
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Start of Summer Term + 1 week |
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Postgraduate Taught (4 instalments) |
Start of Academic Year + 2 weeks |
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Start of Spring Term + 1 week |
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Start of Summer Term + 1 week |
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Start of Summer Vacation + 1 week |
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Postgraduate Research (2 instalments) |
Start of Academic Year + 2 weeks |
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6 months after first disbursement |
If you are attending Warwick for less than a full academic year, your cost of attendance will be pro-rata. The inital disbursment date will be communicated to you. We will revert to the above disbursement date pattern following your first disbursement.
Please ensure that you have notified Student Finance of your UK bank account details. You can find useful information on setting-up a UK bank account here.