Financial Information for US students at Leeds Beckett University for

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1 Financial Information for US students at Leeds Beckett University for PRIOR TO YOUR ARRIVAL/FOLLOWING RECEIPT OF YOUR LEEDS BECKETT OFFER/ACCEPTANCE LETTER 1. Receive Offer Letter and Accept Your Place at Leeds Beckett Following receipt of your offer to study at Leeds Beckett you should Register with the Leeds Beckett On-line Welcome & Registration pages to accept your place Complete a Free Application for Federal Student Aid (FAFSA) In addition to your loan finance application, the US Department for Education and the Office of FSA provide grants and loans for US students applying to Higher Education even if they will be studying overseas. All students must fill in a FAFSA Free Application For Federal Student Aid via You will need the Leeds Beckett school code when filling in your application which is G35014 Please note you will be required to complete a new FAFSA for every year of study at University. 3. Registering with the Leeds Beckett US Loans Department The next and most important step is to register with the US Loans Department at Leeds Beckett, by ing usloans@leedsbeckett.ac.uk. We will need to collect certain information from you regarding your course and personal details in order to ascertain your eligibility for US Direct/Federal Aid Loans. Registering with the Leeds Beckett US Loans Department will also ensure that we are able to keep track of your progress and guide you through the US loan application process. 4. Receive an Estimated Cost Of Attendance (CoA) Following receipt of your personal details/course information it will take at least two weeks to process your estimated Cost of Attendance (CoA) as we need to confirm course specific details with your faculty. The CoA

2 will give you guidance regarding your maximum loan threshold. Please note you are not able to borrow more than your total calculated cost of attendance (CoA) as determined by us. For details on how the CoA is calculated as below. How we calculated the Cost of Attendance in 2015/16? Undergraduate courses typically have a 35 week academic year. Postgraduate (graduate and professional) courses typically have a 47 week academic year. Financial Information for US students at Leeds Beckett University for Academic Year 2015/16 Weekly 35 weeks (UG) 47 weeks (PG) Room and Board $371 $12985 $17437 Books and Supplies $71.40 $2499 $3357 Additional Expenditure (i.e. travel back home,visa,laptop ) annual $2972 $2972 Travel Weekly $49.82 $1744 $2342 Sub-Total living costs $20200 $26108 Tuition fees $14345 ( 9500) $19630 ( 13000)

3 TOTAL COST $34545 $45738 Exchange rate used 1.51USD from XE currency fixed on 06/03/2015. Please note the Exchange Rate will differ daily and these figures are a guideline to what your COA might be. The tuition fees shown above will vary depending upon your course. The Actual COA will be confirmed when we authorise your loan package on the VFAO and will use the Exchange rate on the day to calculate your COA. The most important thing to remember is that you are not able to borrow more than the COA. Financial Information for US students at Leeds Beckett University for Registering with the Virtual Financial Aid Office (VFAO) Following receipt of your estimated COA from the US loans office you will need to register with the VFAO Packages are processed through the VFAO and the information you submit through this system will determine how your loan is disbursed to you. The VFAO is open for applications from the beginning of June 2015 for the 2015/16 academic year. Important things to remember: Be sure to accurately enter all information, especially term dates as incorrect applications will be rejected. Please note that a Master Promissory Note (MPN) must be signed in relation to the current Direct Loan application.

4 Students must register with the VFAO every academic year. A PLUS Master Promissory Note and screen shot of your credit check acceptance is required if you will be using a PLUS Loan. Parents of undergraduate students applying for Parent Plus loans will also need to complete an authorisation to allow funds to be released to the student. 6. Receive a Breakdown of Loan Award Packages Approximately one week following VFAO registration, you will receive a summary of the loan packages available to you. If you need any clarification or support in relation to the loans you wish to apply for, please do not hesitate to contact us at usloans@leedsbeckett.ac.uk 7. Applying for a Suitable Loan At this point you should be in a better informed position to select the most fit-for-purpose funding option(s) and make your application for your student loan(s). Applications should be made via Please refer to pages 11 through 15 of this guide for a description of each of the different loan types. 8. Receive your Student Aid Report (SAR) Once your FAFSA application has been completed you will be ed a copy of your Student Aid Report (SAR) from the US Department of Education. Please review this information carefully and ensure that it includes an EFC (Estimated Family Contribution) and details of any previous loans.

5 If any information is missing or there are comments stating further information is required, you will need to make corrections and resubmit your application via the VFAO. If there is a C shown next to the EFC, further information will be required. In some cases we may need to ask you to provide documentary evidence (such as US citizenship). We are able to access electronic institutional Student Aid Reports (ISIRS) through the VFAO so there is no need to request a paper copy to be sent to us. We will check the Schools Confirmation site on the VFAO regularly, to review any newly generated Student interviews. Beckett University for Receive a Visa Support Letter When you have completed all of the above, we will be able to certify your loan. Following confirmation from the VFAO system regarding your approved loan package, we can issue your Visa support letter via to the CAS team and a copy to yourself. The CAS team can then look to process your CAS number and they will send you a letter which will contain your CAS number, keep this safe as you will need it when you come to apply for your Student Visa. Only if requested, will we send a paper copy. For paper copies we use a DHL Express Air Waybill courier service which will need to be signed for upon receipt. As such, we would require your full postal address including Zip Code in order to ensure its secure delivery and receipt. 10. Apply for your Tier 4 Student Visa You will need to make sure that you apply for your Tier 4 visa in good time, to ensure your arrival at the start of the academic year, we

6 strongly advise students to apply no later than 3 months before the start of term Applications should be made via Early application will ensure that your loan/visa letter can be generated in time for you to arrive at the start of the academic term here in the UK. If you need more information about Visas please visit the Gov.uk support pages. In order to secure entry clearance (i.e. obtain a student visa) for the UK, you must provide proof that you are able to pay for tuition and living expenses (e.g. accommodation, course materials, food etc). For more information about obtaining entry clearance, visit UKCISA s website. 11. Arrange your Accommodation 2015/16 and book your UK Return Flights Following approval of your Tier 4 Visa arrange your student accommodation for the 2015/16 academic year via The deadline for International Students to apply for Leeds Beckett accommodation is 31st July Once you have a place to stay you can then begin to arrange your flight to the UK. Further pre-arrival support for International Students can also be found at our International Student Pre-Arrival and International Student Advice Centre webpages. 12. Check your UK Pre-Arrival Information Do not forget to check the Registration and Welcome Website for details regarding your course induction schedule, how to enrol and for access to your student timetable so you know where, when and who to report to upon your arrival. The student ID is our key student identifier and you will need this at hand in order to access all of our electronic student support systems. Please note that our staff will ask for this information before they are able to help you with most course specific induction queries. FOLLOWING YOUR ARRIVAL IN LEEDS

7 13. Report your Arrival for Visa Compliance Purposes During welcome week you will be required to check-in with your visa and passport to one of our dedicated International student arrival helpdesks to comply with UK Border Agency conditions. Details can usually be found on our International Student Pre-Arrival Website. 14. Enrolment onto Your Course At some point in welcome week each course will arrange a set time for students to register for enrolment. Details can usually be found on the Registration and Welcome information website. Your Student Enrolment is very important, as you will need to be enrolled before we can authorise your loans to be released. If you miss a dedicated enrolment session please arrange to be enrolled at another time via your faculty administrator. 15. Request a Bank Support Letter You will need to open a UK bank account to avoid having to pay two foreign exchange charges. All International Students will require a letter of support for the University before they are able to open a UK Student Bank Account. Our dual campus Student Hub Teams will gladly provide this following your course enrolment. You will need to hold a UK bank account for us to deposit your loan monies. Details regarding loan instalments are set our below, for information. How You Will Receive Loan Instalments for ? Undergraduate students will receive two disbursements (one per semester). Postgraduate students will receive three disbursements (one per semester and one at the start of the summer).

8 The US Loans Department will deduct an amount towards tuition fees and if requested by you we can deduct an instalment of Leeds Beckett University accommodation charges (if applicable) from each loan disbursement. At each loan disbursement, we will tell you the US dollar amount and UK sterling amount of the disbursement, how much has been used for tuition fees and/or accommodation charges and the residual amount, if any, that will be paid direct to your bank account.

9 Academic Year Loan Instalment Dates 2015/16 These dates are set to minimise the risk of your loan being rejected by overlapping a previous year. Postgraduate September 2015 Starters The loan year 21 st September, th August, 2016 Undergraduate September 2015 starters- The loan year will be 21 st September 2015 to 27 th May 2016 (end of final term). Postgraduate January 2015 Starters The loan year will be 25th January 2016 to 20 th January Undergraduate January 2015 starters- The loan year will be 25th January 2016 to 16 th September, 2016 (end of final term). Loan Disbursement/Payment Dates 2015/16 Undergraduates Semester 1, Sept Start Semester 2, Jan Start Term 1 28 th Sept, st Feb, 2016 Term 2 11 th Jan, th June 2016 Postgraduates Semester 1 Sept Starter Semester 2 Jan Start Term 1 Term 2 Term 3 29 th Sept, th Jan, th June, st Feb, th June,16 19 th Sept, 16

10 **WARNING The above dates are when the disbursements are requested from the US Treasury and are not the dates at which the student is due to receive the funds. Please note the disbursement process involves the transfer of funds from the US Treasury to our UK bank account, the tuition fee deductions are then taken out (if required) followed by a BACS transfer payment into your bank account if there is a balance to pay. This will take at least 10 working days. Financial Information for US students at Leeds Beckett University for Enjoy Your Leeds Beckett Experience Do try to get involved in as many social activities as possible before your course content is delivered. We hope you settle into your accommodation and feel welcomed to Leeds by fellow students and staff. Remember to budget carefully between loan disbursement dates and throughout the duration of your studies please consider the following: Satisfactory Academic Progress While in receipt of Federal loan funds for the loan period outlined on your loan application, you are required to be enrolled on your programme of study and to maintain satisfactory academic progress. Satisfactory academic progress means maintaining an average of at least C grades over the current academic year. Please note that this is a higher standard than the University s pass mark for undergraduate students. We will check your progress before releasing loan funds. If you fail to meet the required standard in any period, you will be placed on 'Financial Aid Probation' for a period of one semester, or until the next available opportunity to undertake these assessments. If after this period you do not reach the satisfactory academic standard, your eligibility for Federal loans (Stafford and Plus loans) may be terminated. The Student Funding Service would confirm any probation or termination of eligibility

11 with the individual student should this situation arise. In the event of failing a module please advise our office as soon as possible, if we are not made aware it could mean you do not receive your planned loan instalment. Transfer to an Alternative Course Different courses have different fees which may mean transferring to a new course would result in a financial shortfall. It is extremely important that this is managed before any transfer takes place in order to ensure your student finance options are fit for purpose. Withdrawal from Your Course If you withdraw from your course, you must inform Money Support no later than five working days after withdrawal in addition to notifying your course office. If a student who receives financial aid withdraws from their course, we will recalculate your financial aid eligibility based on your period of attendance. This could mean that you have to pay back money received from Federal Direct or Plus loans you may have received. The University may also have to repay funds received for tuition back to the US Federal Government. In this case you may become liable for additional fee payments to the University in order to replace these funds. Any calculation will be undertaken in line with the rules set by the US Department of Education and cannot be amended in any way. Deferral of Studies or Intention to extend your Studies Here at Leeds Beckett It is very important you notify us of any intention to defer or extend your studies at our University, this has significant implications for your eligibility for further funding and also could contradict or conflict with the conditions of your visa. We are happy to support you through the process to ensure that you do not get into any unforeseen difficulties. WHEN YOUR STUDIES COME TO AN END 18. Exit Counselling It is a legal requirement that all students who have received Federal loan(s) and have graduated or withdrawn from their programme of study complete exit counselling. This is done through

12 Please go to the site and follow the instructions for Stafford Loan and /or PLUS Loan exit counselling. Once you have completed the counselling, print out a confirmation and it to us at usloans@leedsbeckett.ac.uk 19. Repaying Your Loan Following the conclusion of your studies the time has come to repay your loan(s). If you are in doubt regarding the terms of repayment, payment schedule, payment instalments etc, please contact the loan provider to seek further clarification. FUNDING ELIGIBILITY Students Studying Abroad Students here who are registered at a US University are not eligible to apply for Financial Aid through Leeds Beckett University. They should instead apply to their HOME university. Students studying in foreign schools are not eligible for grants from the US government, but may apply for loans. LOAN OPTIONS There are three main types of loans available: Direct Subsidised Loan Only available to Undergraduate students. Is a federal Subsidized loan, where there is no interest charged whilst you are enrolled at least half time and for six months after you have left the school or dropped below half time (referred to as a grace period). Direct Unsubsidised Loans Available to both Undergraduates and Graduates. The student is responsible for paying interest for the full period of the loan. The student has the option of paying the interest or having it capitalised and added to

13 the total of the loan, whilst studying at least half time or during deferment or grace periods. Plus Loans Available to Graduates and parents of dependant undergraduates (these loans will be subject to credit checks). Students must have taken out all entitlements to their Direct loans (subsidised and unsubsidized) before they can apply for Plus loans. These loans are currently offered at a fixed interest rate of 7.21%. A credit check is required for this loan. Parents of dependant undergraduates can take out a Parent Plus loan under their name. Borrowing up to their child s Cost of Attendance (CoA).Repayments of these loans start whilst the child is in school. The loan is currently offered at a fixed interest rate of 7.21% and parents can opt to delay repayment until 6 months after the course completion date.a credit check is required for this loan. OTHER FUNDING OPTIONS Private loans The only private loan provider is offered by Sallie Mae. A private Loan from Sallie Mae will be subject to credit checks and require a co-signor. Veteran s Funding Please contact the Money Support office at usloans@leedsbeckett.ac.uk if you wish to receive Veteran s funding for a particular course as this needs prior approval. If you will be using post 9/11 GI Bill or any other funding from the Department of Veteran Affairs. Please allow as much notice as possible as we need to request individual programme approval for each student and this can take several months. Loan descriptions

14 1. Subsidised Fixed, no interest Originating fee for first charged whilst in loans (disbursed school. between 1/07/ /06/2016) of 1.073% will be deducted. 2. Unsubsidised Fixed, interest charged As above. whilst in school. 3. Plus Loan Max Value set by Originating fee for first Leeds Beckett taking loans (disbursed into account the between 1/07/15- projected Cost of 30/06/2016) of 4.292% Attendance. Interest will be deducted. charged whilst in School. The Maximum amount of subsidised and unsubsidised loans is as follows: Dependent undergraduates (Students aged 24 and under): Year Of Course Subsidised Loan Unsubsidised Loan Maximum Loan 1 $3,500 $2,000 $5,500 2 $4,500 $2,000 $6,500 3 and later $5,500 $2,000 $7,500 Independent Subsidised Loan Unsubsidised Maximum Loan undergraduate Loan s (Students aged over 24 or those whose parents are refused a Parent PLUS Loan):

15 Year Of Course 1 $3,500 $6,000 $ 9,500 2 $4,500 $6,000 $10,500 3 $5,500 $7,000 $12,500 Graduate and Professional Students: Unsubsidised Loan Maximum Loan $20,500 $20,500 Beckett University for Students studying at foreign school whose loan is offered by Sallie Mae. The Sallie Mae Smart Option Student Loan The Smart Option Student Loan is a private, credit-based loan for undergraduate and graduate students. Designed to reduce the overall loan costs and help shorten the amount of time it takes to pay off the loan, the Smart Option Student Loan features interest-only payments while in school and repayment terms based upon the cumulative outstanding Sallie Mae-serviced private student loan balances and the borrower s academic grade level. Choice and Savings for Undergraduates/Postgraduates: Deferred Repayment Option Students have the choice of either making no payments during their time in school or pay as much as they like. Fixed Repayment Option Interest Repayment Option Competitive Variable and Fixed Loan Interest Rates No origination fees and no prepayment penalties

16 Repayment Terms For repayment terms please check on the Sallie Mae website. Co-Signer Release The borrower may apply for co-signer release after successful completion of their education. The borrower must have a satisfactory history of making principal and interest payments and meet underwriting guidelines when the request for co-signer release is processed. The borrower s account must remain current until the request for release is processed and the borrower must be a US citizen or permanent resident at the time the co-signer release is processed. The release of a co-signer is at the sole discretion of Sallie Mae. Financial Information for US students at Leeds Beckett University for FREQUENTLY ASKED QUESTIONS Q1. What Fees will I Pay? A1. Please note that the fees vary for each course but the information below gives a guide to tuition fees for courses starting in September 2014 & January 2015 for International Students from outside the EU Annual Tuition Fee Undergraduate (most courses) - 9,500 Postgraduate (most courses) - 10,000-13,000 Research - 11,500 The overseas fee includes free in-sessional English language support during your studies. To check the overseas fee for a particular course, search for the course in our on-line Course Finder, click on the year you are interested in, and then click on the entry & fees section. Q2. Am I Entitled to any Fee Discounts?

17 A2. Students in their first year of study at Leeds Beckett are guaranteed a 10% early payment discount on a full year's tuition fee providing payment is made no later than 6 th September, This early payment discount is only available to students charged at the overseas rate of fee and for the first year of study. Please note that if your tuition fees are due to be paid directly from your student loan, this will be in 2 or 3 instalments within academic year, therefore you will not qualify for the Early Repayment discount, unless you pay your fees up front before the 6 th September deadline. Q3. If I borrowed Federal Stafford and/or Grad PLUS loans in prior years and I borrow loans for 2015/16, will I have to repay two different lenders? A3. You may be repaying your federal loans to multiple servicers. You will receive correspondence and payment information from the Department of Education and your prior lender(s) and/or servicer(s). If you prefer a single payment, when you begin repayment you can consolidate your old FFEL loans with your new Direct Loans with the US Department of Education. For more information regarding Direct Loan Consolidation, please visit the US Department of Education's website at: on.jsp Q4. How can I find out who services my Federal Loans? A4. Information regarding your federal loan debt can be accessed via the National Student Loan Data System (NSLDS) at Note that any private alternative loans (ie Sallie Mae Smart Option Loan) you have borrowed will not appear in the NSLDS. Q5. Will the Stafford and Grad PLUS Loans I borrowed through my lender in prior years still be eligible for in-school deferment? A5. Yes. If you are enrolled at least half-time (60 credits per academic year), your prior federal loans will continue to be deferred. The Direct Loan Programme offers the same deferment and forbearance provisions as the Federal Family Education Loan (FFEL) Programme.

18 Financial Information for US students at Leeds Beckett University for FURTHER HELP We realise that the student loan process can be confusing. If you require further clarification, please do not hesitate to FURTHER INFORMATION ABOUT LEEDS BECKETT Facts and figures for further information about the University s Policies and facts and figures visit our home page at Policies, procedures and regulations such as those detailed below can be found at General Student Regulations Academic Misconduct Procedures (including peer-to-peer file sharing and plagiarism) General Admissions Policy Substance Use and Misuse Policy (including drug and alcohol abuse prevention) Student Disciplinary Procedures Safety and Security Statement (more detailed information on safety and security in halls of residence will be available on our student intranet once you have enrolled on your course).