Loan types
Federal Direct Loans
The only program that a foreign school may participate in is the Title IV Direct Loan programme. This means that PELL and TEACH loans cannot be taken if you are studying with the University of Leicester. There are three types of Federal Loans available:
- Direct Subsidised loans
- Direct Unsubsidised loans
- Direct PLUS loans (Graduate and Parent PLUS)
Further information on the different types of Title IV Direct Loans can be found on the StudentAid website. It also has some information on the following:
- Borrowing limits
- Repayment options
- Interest rates
Private loans from Sallie Mae
Private loans are provided by individual lenders and not the US Government, a private loan application will need to be made directly to the lender. The application needs to be made for each academic year like Title IV Direct Loans. The StudentAid website has some information on the differences between Federal and private loans. Please note the University of Leicester advises students that we are only aware of Sallie Mae in terms of private lenders that are willing to work with us. This does not mean Sallie Mae are a preferred lender, we are willing to work with any private lender students decide to use.
VA benefits
If you have served on active duty for at least 90 days, either consecutively or over several shorter periods, since 10 September 2001 you may be eligible to receive funding through the US Department of Veterans Affairs. Eligible students (Distance Learning programmes are NOT eligible for VA benefits) should visit the website for more information and to apply for benefits. The University will need to confirm your attendance before your benefits will be released. This confirmation is sent via a VAF 22-1999 form once you are studying with us.
Please email USloans@le.ac.uk if you have any questions.