A GUIDE TO FINANCIAL AID FOR US STUDENTS

Transcription

1 University of Brighton A GUIDE TO FINANCIAL AID FOR US STUDENTS Bursaries and Scholarships Team Registry Academic Year 2014/15 Updated March 2014

2 Contents 1. US Federal (Direct) Loan Funding (William D. Ford Program) Private Loan Funding Department of Veterans Affairs Funding... 4 Information applicable to all types of US loan/grant funding... 5 General enquiries about US loans/grants... 5 us-ca-loans@brighton.ac.uk... 5 CAS and Visa enquiries and minimum funding levels... 5 Payments ( disbursements ) of loans/grants and UK bank accounts... 6 Dates of disbursements/payments Federal (Direct) Loans... 6 Dates of disbursement/payments Private Loans... 7 Dates of disbursement/payments Department of Veterans Affairs... 8 Satisfactory Academic Progress... 8 Continued attendance and Student Status Confirmation Reports... 9 Change of plans? US Federal (Direct) Loan Funding through the William D. Ford Program at the University of Brighton (Federal School Code G35173) US Federal (Direct) Loans eligible courses at the University of Brighton Undergraduate Undergraduate Integrated Masters Postgraduate Federal Loans ineligible level of courses Federal Loans ineligible (subject-specific) courses Federal loans ineligible (partner college) courses Types of Federal Direct Loans Direct Subsidised Loan

3 Direct Unsubsidised Loan Direct Parent Plus Loan Direct Graduate Plus Loan Time Limit for Receipt of Direct Loans Checklist for applying for Direct Federal Loan Funding Method of Payment, Disbursements and Loan Limits US Federal Loan Funding How will my funds be paid? Sample Cost of Attendance for 2014/ US Federal (Direct) Loan funding is paid as follows Both undergraduate and postgraduate Origination Fees The Difference in Payments (Disbursements) for Undergraduate and Postgraduate Students.. 25 Undergraduate Postgraduate Evidence of Loan Income Direct Loans Notification of Student Loan Letter Enquiries about outstanding tuition fees and balance payable to you Private Loan Funding Evidence of Income from Private Lenders Department of Veterans Affairs Funding (VA Funding) Who is eligible for the Post 9/11 GI Bill? VA Course Approval Courses at the University of Brighton for which approval has already been granted by the Department of Veterans Affairs A student may enrol directly in a host school Who is eligible? Eligibility Criteria for studying at a Foreign School Education and training programs administered by the Department of Veterans Affairs

4 Can I transfer my entitlement to my dependents? Post-9/11 GI Bill: Transferability Eligibility criteria for transferability Eligible family member Nature of transfer Glossary of Terms... 1 Addendum 1: University of Brighton Satisfactory Academic Progress Policy Addendum 2: University of Brighton Refund Policy (for US Title IV (Direct) Loan funding) 3

5 A guide to financial aid for US Students for the academic year 2014/15 This document includes information on three main types of financial aid available for students from the United States of America to study at the University of Brighton: 1. US Federal (Direct) Loan Funding (William D. Ford Program) 2. Private Loan Funding 3. Department of Veterans Affairs Funding This guide covers areas such as course eligibility, student eligibility and the key rules and regulations that apply to the specific types of funding. The first section of this document aims to give you an overview of the funding opportunities available to you, followed by a more in-depth explanation of each type of funding in turn, and how to go about applying for your financial aid package, based on the various eligibility criteria applicable to you and to your chosen course of study. Please ensure you read the overview first, and then refer to the more detailed information on your chosen type of funding. Keep this document bookmarked or printed out, so that you have it to hand to refer back to as you go through the application process and after enrolment. 4

6 Overview of information applicable to all types of US loan/grant funding General enquiries about US loans/grants These should be addressed in the first instance to the US/Canadian Loan enquiries joint account: telephone If we need to refer your enquiry to another team, we will do so and advise you accordingly. CAS and Visa enquiries and minimum funding levels If you are classed as a Tier 4 student by the Home Office s UK Visas and Immigration (UKVI), you will need to obtain a CAS number from the University of Brighton before you can apply for a visa. A Tier 4 entry clearance visa from April 2014 will cost 310. PLEASE DO NOT ARRANGE YOUR VISA APPOINTMENT UNTIL AFTER WE HAVE CONFIRMED YOUR LOAN AMOUNTS AND DATES OF DISBURSEMENT BY LETTER. Please refer to the visa advice on the University of Brighton website: You will also need to be able to demonstrate to the Home Office UK Visas and Immigration (UKVI) that you have a minimum level of funding available, made up of the total tuition fees for the year plus an additional 800 per month for a minimum of 9 months, ie tuition fees for the year plus 7,200 GBP. Once you have applied to the University of Brighton for a place to study on a course, and you have been given an unconditional offer of a place, you will automatically be sent a visa questionnaire by to complete and return to the CAS Enquiries Team. The CAS Enquiries Team will then assess your eligibility and, if appropriate, issue a CAS number, which you will need before you can make your application for a study visa. For enquiries about your CAS number, you can contact the CAS Enquiries Team CASenquiries@brighton.ac.uk 5

7 Payments ( disbursements ) of loans/grants and UK bank accounts If your loan or grant includes an element of funding to be paid (disbursed) directly to you (ie in addition to the amount for tuition fees which is payable directly to the university), before this can happen, you will need to open a UK bank account, and provide your bank details to the University of Brighton s Finance Department Payments Team. You can send your UK bank account details to them directly via to payments@brighton.ac.uk The information required by the Payments Team includes your name and University of Brighton student number, the name of the bank (eg HSBC, Lloyds, Barclays, TSB, Co-operative, Santander, NatWest, etc), the name of the account holder, your bank account number and the bank sort code. Bank details should relate to an account in your name, and not the details of an account holder in a third party s name, such as a parent s account. Please do not send your bank account details to us; these will not be accepted from us by the Payments Team, as bank details must come directly from you to the Payments Team. The Payments Team cannot accept any bank details sent to them via a third party, even if it is via another Department within the university. Payments of loan funding to students from the university are made via automated bank transfer (called BACS payments). BACS payments are only made once a week on a Thursday. For a payment to reach you on a Thursday, your UK bank details will need to be with the Finance Department Payments Team by Friday of the previous week, to ensure that they have been applied to your university student account information in time for inclusion of your payment in the following week s BACS run. Dates of disbursements/payments Federal (Direct) Loans For Federal (Direct) Loans, the anticipated dates of disbursement will be included in your Student Loan Notification Letter, which is sent to you after your loan has been set up. Please keep this letter handy, as we do not send out automatic reminders. We will contact you 14 days prior to the first disbursement to notify you of your right to cancel, as this is a regulatory requirement for Federal loan funding. The anticipated payment dates will only be valid if you have enrolled in person and provided your UK bank account details to the Payments Team. The first instalment is generally two weeks AFTER the start of your course, so you will need to ensure you have sufficient funds available to cover the first two weeks of being here. The second instalment will be scheduled to co-incide with the start of semester 2, ie early February. 6

8 If you have a third instalment (if you are on a postgraduate course that lasts for 12 months), this will be scheduled for the beginning of June. If your loan is being used to cover tuition fees, for an undergraduate student we will deduct one half of your fees from the first disbursement, and one half from the second. For a postgraduate student we will deduct one third of your tuition fees from each of the three disbursements. Any available balance will then be paid to you. Dates of disbursement/payments Private Loans Your bank/lender should send you a Notice of Guarantee, which will set out your total loan amount. Once a loan has been set up, there is normally a cooling off period before a loan can be disbursed. This is to allow you to cancel the loan if you no longer require it. Private loans for first year undergraduate and new postgraduate students In order to meet the Home Office s UKVI (UK Visas and Immigration) requirements, your private loan will need to be disbursed in a single amount in advance of your in-person enrolment. This is because the Home Office s UKVI will not accept private loan funding due to be paid in multiple disbursements as evidence of income. We will therefore aim to disburse the private loan funding as a single disbursement two weeks prior to the start of the academic year, so that the cheque will be received by the university in advance of your arrival. It is therefore essential that if you have any change of plans in advance of arrival, you notify us immediately, so that cancellation arrangements can be made before funds are released on your behalf. Private loans for continuing undergraduate and postgraduate students Disbursement dates will be applied when the loan is set up and will generally follow the same pattern as for Direct Loans, ie two weeks after your course start date, the beginning of semester 2 (early February), and the beginning of June (if applicable). Before a disbursement/payment can be made, we will have to release it. Again, we will wait until you have enrolled in person, before we will release the first loan disbursement/payment. For Sallie Mae loans there is a minimum of nine working days between us releasing a disbursement in the loan system and the funds actually being released by Sallie Mae (this is to allow you time to cancel the loan if you wish to). Private loan income for new and continuing students Private loan funding generally comes in the form of paper cheques, which are sent to the University of Brighton on your behalf. These cheques are banked by the university s Finance Income Team, converted by the university s bankers to GBP (pounds Sterling), and then the resulting Sterling 7

9 amount is applied to your university finance account. A proportion of your tuition fees is deducted (as above, one half for a two-disbursement loan, or one third for a three-disbursement loan). The balance, if applicable, is then paid to you. There is normally a period of approximately two weeks between the receipt of the loan cheque and payment of the surplus funds into your bank account. Please ensure you have sufficient funds to cover the first two weeks after your course start date. Dates of disbursement/payments Department of Veterans Affairs The payments to cover your living costs will normally be made monthly by the Department of Veterans Affairs into your bank account. In your first year of study, we will normally wait for you to enrol in person before we send your Student Enrolment Form VA to the Department of Veterans Affairs, so you will need to ensure you have sufficient funds to cover your first three weeks after your course start date. Payments to you from the Department of Veterans Affairs for living costs will commence after we have sent in the VA Enrolment Certification form on your behalf. Payments for tuition fees will be made directly to the university on your behalf on a termly basis by paper cheque. We will notify you of receipt of tuition fees cheques, and the Finance Income Team will be able to advise you of any shortfall in tuition fee amounts. This sometimes occurs, for example, where there is a change in exchange rates after the VA Enrolment Certification has been sent at the beginning of the academic year (in September), or where you are not entitled to 100% of the costs. Satisfactory Academic Progress Whatever type of loan or grant funding you receive, you will be expected to make satisfactory academic progress in order to receive the second and (if applicable) third disbursement (payment). For US Federal Loans it is a formal requirement for you to make satisfactory academic progress, and we will contact your School Office (academic department) for confirmation of this via the Head of School and the School Office Administrator, who will forward the request to your Course Leader prior to the second (and third where applicable) disbursement. The University of Brighton has a formal Satisfactory Academic Progress Policy, in line with the US Department of Education regulations, which is included as an addendum to this document. Satisfactory academic progress includes your attendance and submission of coursework as required, and ensuring that you will complete your course in no more than 150% of the standard duration, ie if 8

10 you are taking a full-time four year undergraduate degree course, the maximum time taken cannot exceed six years. If you are taking a full-time one-year postgraduate course, the maximum timeframe cannot exceed eighteen months. A student who fails to make satisfactory academic progress will be placed on probation for financial aid until the next disbursement, by which time their grades will be expected to be at the required level. If a student achieves the required standard, they will be placed in good standing for financial aid. If a student does not meet the required standard, their financial aid may be suspended. For private loans and funding from the Department of Veterans Affairs, students are also expected to make satisfactory academic progress in order to continue to receive further disbursements of loan or grant funding. Continued attendance and Student Status Confirmation Reports We are required to confirm your attendance in the form of a Student Status Confirmation Report to the US National Student Clearing House. This applies to all forms of US loan/grant funding, and the data is then shared with your lender(s). We are required to confirm that you are attending on a fulltime or at least half-time basis for US Federal loan funding in order for you to continue to be eligible for funding. In the past these reports have been sent in October and March each academic year, although individual reports may be sent in between these dates if, for example, a student withdraws or intermits (suspends), or commences their studies outside of the normal September start date (for example some students commence their course in February). We have recently been advised of a new requirement for us to confirm attendance for loan recipients every two months. Once a student has been confirmed as having withdrawn, they will then be required to commence repayment of their loans. An intermission cannot be for more than 180 days in one twelve month period any longer than this, and you will be reported as withdrawn, in line with US Federal loan funding regulations, and your lender(s) will seek commencement of repayment. Change of plans? It is essential that you notify us of any changes in your plans to study here BEFORE we draw down your loan or grant funding, whether Federal, Private or VA. This will then enable us to avoid both you and the university losing a proportion of your funding as a result. 9

11 Private loans and VA funding come to the university in the form of paper cheques, which are paid into the university s bank account on your behalf. The university s bank negotiates the exchange from USD to GBP, which incurs an exchange fee. If we then have to convert funds back into USD to repay the monies, this will incur a further exchange fee in addition to overseas transactions fees. There may be a further loss due to change in exchange rate in the intervening period between receipt and refund. This will result in a shortfall of funds available to repay your lender. The rules for refunding Federal Loan funding are complex and set out in a separate addendum at the end of this document. 10

12 1. US Federal (Direct) Loan Funding through the William D. Ford Program at the University of Brighton (Federal School Code G35173) The University of Brighton has a current Program Participation Agreement with the United States Department of Education, which enables us to administer Federal (Direct) Loans on behalf of US students studying here. The Participation Agreement incorporates a number of regulations and eligibility criteria which will determine whether or not you can apply for Federal Loan funding for your chosen course of study. A list of eligible and ineligible courses for Federal loans purposes is included on pages 13 and 14. The US Department of Education provides loan funding for students at undergraduate and postgraduate levels, and may be taken out to cover part or all of your tuition fees and living costs, subject to certain limitations. (Please note that tuition fees do not include the cost of accommodation). US Federal (Direct) Loan funding is generally the better (ie most cost-effective) way of covering your tuition fees and living costs, in terms of interest charged and repayment terms. We therefore strongly recommend that you look to taking out US Federal loan funding within the limits available in the first instance, and then consider a private loan either as an alternative, due to your course being ineligible for Federal loan funding, or due to your financial requirements exceeding the maximum Federal loan amount available. Your level of study (undergraduate or postgraduate, and year of study), and whether or not you are independent or dependent will determine which type and what level of Federal (Direct) Loan funding you can take out. The detailed criteria are set out below. If you find that you or your course does not meet the eligibility criteria for Federal (Direct) Loan funding, you may be able to apply for a private loan through a US bank. Equally, if your level of Federal (Direct) Loan funding is not sufficient to cover your anticipated costs, you may take out a private loan in addition to your Federal Loan to fund any shortfall not covered by other financial aid (such as scholarships). US Federal (Direct) Loans eligible courses at the University of Brighton Courses must be award-bearing (ie leading to a qualification), so that students here for just one or two semesters as part of a study abroad arrangement must apply for Direct Loan funding via their home university in the US. The following courses are eligible for US Federal (Direct) Loan funding at the University of Brighton: 11

13 Undergraduate Courses taught at one of the University of Brighton s five campuses leading to a FdA (Foundation Degree in Arts), FdSc (Foundation Degree in Science), BA (Hons) (Bachelor of Arts), BSc (Hons) (Bachelor of Science), and LLB (Bachelor of Law) The undergraduate Bachelors courses may be three-years, or four-years, depending on whether your course is a sandwich degree, including a year of industrial placement, or if your degree is an initial teacher training course, which leads to Qualified Teaching Status (known as QTS ), or if your course is an integrated masters. Please note that if your course involves a study abroad year outside the UK, eg at one of the university s partner institutions in other EU Member States or in the US, then you would not be eligible for Federal (Direct Loan) funding for the study abroad year. Undergraduate Integrated Masters These are four-year undergraduate courses that lead to an integrated masters and include: MPharm (Master of Pharmacy), MComp (Master in Computing), MDes (Master in Design), March (Master in Architecture), MEng (Master in Engineering) Postgraduate Masters courses one or two-year courses that lead to an MSc or MA in a subject such as International Tourism, Occupational Therapy, Information Science, or an MRes (research degree). PhD Doctor of Philosophy 12

14 Federal Loans ineligible level of courses Post Graduate Certificate of Higher Education (PGCert), and Postgraduate Diploma of Higher Education (PGDip) courses, such as PGDip Pharmacy, and PGCE Teacher Training are not eligible for Direct Loan funding. Our current Program Participation Agreement with the US Department of Education specifically excludes all Postgraduate Certificate and Diploma courses. Federal Loans ineligible (subject-specific) courses BMBS Bachelor of Medicine Bachelor of Surgery BSc Hons Nursing, BSc Hons Midwifery Any course provided by the Brighton & Sussex Medical School Courses run at the Brighton & Sussex Medical School are specifically excluded from our Program Participation Agreement. (This is because the Brighton & Sussex Medical School is a separate entity, formed jointly between the Universities of Brighton and Sussex, and our Program Participation Agreement only covers those courses provided and delivered by the University of Brighton). However, students taking any of the courses for which Federal (Direct) Loan funding is not available, may apply for private loan funding, provided they can find a US lender (bank) which will provide educational loan funding for study outside the US, such as Sallie Mae. Federal loans ineligible (Partner College) courses The University of Brighton validates a number of courses provided by our partner colleges, such as City College Brighton & Hove, Plumpton College, and Sussex Downs College (Eastbourne and Lewes campuses). Courses validated by, but not taught at, the University of Brighton are not covered by our Program Participation Agreement, and therefore no Federal (Direct) Loan funding is available for courses taught at any of our partner colleges. This is in line with the US Department of Education regulations. Types of Federal Direct Loans There are FOUR types of Direct Loans: Direct Subsidised Loan, attracting a lower rate of interest, as they are partly subsidised by the US Department of Education (available to undergraduate students only). The US Department of Education pays the interest on a Direct Subsidised Loan while you are in School (ie at university) at least half time, and for six months after you leave School (referred 13

15 to as the grace period, and during a period of deferment (a postponement of loan payments) Direct Unsubsidised Loan, available to undergraduate and postgraduate students, with no requirement to demonstrate financial need, attracting a higher rate of interest, as there is no subsidy from the US Department of Education you are responsible for paying the interest on a Direct Unsubsidised Loan during all periods. If you choose not to pay the interest while you are in School, and during grace periods, and deferment or forbearance periods, your interest will accrue (accumulate) and be capitalised, that is, your interest will be added to the principal amount of your loan. Direct Parent Plus Loan for undergraduate students classed as dependent * Direct Graduate Plus Loan for postgraduate students, all of whom are classed as independent. You must not have an adverse credit history to be eligible for the Plus Loan, although you may still be eligible with a negative credit history if you are able to provide a co-signer (someone without an adverse credit history) to underwrite your loan The University of Brighton Bursaries & Scholarships Team will determine the amount you can borrow, and the amount may not exceed your financial need. The amount of loan you can borrow is based on your Cost of Attendance (see pages 21 and 22), and any other financial aid you receive, such as a scholarship. Time Limit for Receipt of Direct Loans If you are a first-time borrower on or after July 1 st 2013, there is a limit on the maximum period of time (measured in academic years) that you can receive Direct Subsidised Loans. This time limit does not apply to Direct Unsubsidised or Plus Loans. If this limit applies to you, you may not receive Direct Subsidised Loans for more than 150 per cent of the published length of your programme. This is called your maximum eligibility period. Your maximum eligibility period is based on the published length of your current programme. You can find the published length of your programme of study on the University of Brighton website via the course finder database, which you can access from the home page, or via the current University of Brighton prospectus. 14

16 FEDERAL DIRECT LOAN LIMITS 2014/15 Year First-Year Undergraduate Annual Loan Limit Second-Year Undergraduate Annual Loan Limit Third-Year and Beyond Undergraduate Annual Loan Limit Dependent Students (except students whose parents are unable to obtain PLUS Loans) $5,500 No more than $3,500 of this amount may be in subsidized loans. $6,500 No more than $4,500 of this amount may be in subsidized loans. $7,500 No more than $5,500 of this amount may be in subsidized loans. Independent Students (and dependent undergraduate students whose parents are unable to obtain PLUS Loans) $9,500 No more than $3,500 of this amount may be in subsidized loans. $10,500 No more than $4,500 of this amount may be in subsidized loans. $12,500 No more than $5,500 of this amount may be in subsidized loans. Graduate or Professional Students Annual Loan Limit Subsidized and Unsubsidized Aggregate Loan Limit Not Applicable (all graduate and professional students are considered independent) $31,000 No more than $23,000 of this amount may be in subsidized loans. $20,500 (unsubsidized only) $57,500 for undergraduates No more than $23,000 of this amount may be in subsidized loans $138,500 for graduate or professional students No more than $65,500 of this amount may be in subsidized loans. The graduate aggregate limit includes all federal loans received for undergraduate study. Notes re Aggregate Loan amounts: The aggregate loan limits include any Subsidized Federal Stafford Loans or Unsubsidized Federal Stafford Loans you may have previously received under the Federal Family Education Loan (FFEL) Program. As a result of legislation that took effect July 1, 2010, no further loans are being made under the FFEL Program. 15

17 Effective for periods of enrollment beginning on or after July 1, 2012, graduate and professional students are no longer eligible to receive Direct Subsidized Loans. The $65,500 subsidized aggregate loan limit for graduate or professional students includes subsidized loans that a graduate or professional student may have received for periods of enrollment that began before July 1, 2012, or for prior undergraduate study. Origination Fees (fees deducted proportionately from each loan disbursement Subsidised and Unsubsidised Loans first disbursed on or after 1 st December 2013: 1.072% Direct Plus Loans (Parents and Postgraduate students) first disbursed on or after 1 st December 2013: 4.288% Current Interest Rates for Loan Repayments Loans first disbursed between July 1 st 2013 and 30 th June 2014: Undergraduate Postgraduate Subsidised Fixed rate 3.86% N/A Unsubsidised Fixed rate 3.86% Fixed rate 5.41% Plus (Parent or Graduate) Fixed rate 6.41% Fixed rate 6.41% For interest rates on loans first disbursed before 1 st July 2013, please see: For the benefits of Federal Loans versus private loans, please see: Definitions of dependent and independent students are as follows: Dependent Student less than 24 years old, unmarried, without any legal dependents Independent Student at least 24 years old, or married, or postgraduate, a Veteran, a member of the Armed Forces, an orphan, a ward of court, or having legal dependents other than a spouse. For the full definition of dependent and independent students, please see: 16

18 Checklist for applying for Direct Federal Loan Funding 1. Apply for your FAFSA (Free Application for Federal Student Aid), which will give you your Student Aid Report (SAR) For how to complete your FAFSA, go to To complete your FAFSA electronically, you will need a Federal Student Aid PIN (if you don t already have a PIN, go to You can get help filling out the FAFSA either within the form s Help and Hints, or by phone at FED-AID, or The University of Brighton School ID Code to be included in your FAFSA choice of colleges is G Check and update your FAFSA if necessary Once FAFSA has processed your information, you will be ed a copy of your Student Aid Report (SAR). Please review the information carefully and ensure that it includes an EFC (expected family contribution) at the top, and the details of any previous Federal loans you have taken out at the end. If any information is missing, or there are comments stating that further information is required, you will need to make any necessary corrections and re-submit your application. If there is a C showing next to your EFC amount, this indicates that further information is required. Check the comments codes at the end of your Student Aid Report and make any necessary corrections through FAFSA. In some cases we may need to ask you to provide documentary evidence (eg proof of US citizenship). 3. Notify the Bursaries & Scholarships Team at the University of Brighton that you have applied for a SAR through completing your FAFSA us us-ca-loans@brighton.ac.uk and we will then be able to access this and download a copy for checking once this has been processed by FAFSA (processing by FAFSA before your SAR is made available can take a couple of days). 4. Agree your Cost of Attendance If you have been offered a place on a course at the University of Brighton and have not declined the offer, we will send you a Cost of Attendance spreadsheet, setting out the estimated total cost of tuition fees, living costs, and other elements of expenditure for 17

19 the full academic year. This will also take account of any information included in your SAR, such as previous Federal Loan funding, aggregate limits and the type(s) of Direct Loan funding to which you are entitled. There are set maximum amounts for each Direct Loan type, and maximum aggregate amounts. These vary, depending on whether you are dependent, independent, the level of your course (undergraduate or postgraduate, and the year of your course. (See detailed information below). Your Cost of Attendance is made up of the tuition fees for your chosen course of study, a weekly amount to cover room and board, return flights from the US to the UK, and an amount for study materials. You can check the international fees for your particular course via the Course Finder available on the homepage of our website From the Cost of Attendance, we will deduct any Other Financial Aid (eg scholarships), and the Expected Family Contribution (EFC). Expected Family Contribution The questions on the FAFSA are required to calculate your Expected Family Contribution (EFC). The EFC measures your family s financial strength and determines your eligibility for Federal student aid. Your EFC will be listed on your Student Aid Report (SAR). Using the information on your FAFSA and your EFC, we will determine the amount of financial aid you will need. We use your EFC to prepare a financial aid package to help you meet your financial need. Financial need is the difference between your EFC and your Cost of Attendance (which includes living expenses and tuition fees), as agreed between yourself and the University of Brighton. Applicants should have applied to a degree programme at the University of Brighton and have received a formal offer of admission before applying for any loan. We will await your agreement to us via for the proposed Cost of Attendance (COA) before proceeding to set up a loan/loans for you. The COA will be the maximum cost of attendance, and you may choose to borrow less, if you have alternative sources of funding, such as savings and/or scholarships. Only certain items of expenditure can be included in the COA, based on the US Department of Education regulations 18

20 5. Go to and complete your Master Promissory Note (MPN) for the subsidised and unsubsidised Direct Loans. The MPN is your Loan Agreement, setting out the terms and conditions stipulated by the US Department of Education. To complete an MPN electronically, you will need to have a Federal Student Aid PIN. This is the same PIN used to complete the FAFSA. Save the MPN as a PDF file, and send it to us as an attachment. A separate MPN is required for each year of study. 6. If you are taking out a Direct Plus Loan in addition to Subsidised and/or Unsubsidised Loans, we will need a further separate MPN for the Plus Loan. You can complete your Plus Loan MPN via the website and then send it to us as a PDF file. Please note that a separate MPN for Plus Loans will be required for each year of study. 7. Credit check If you are taking out a Plus Loan, we will also need confirmation of a positive credit check. As part of your Plus loan application process, the US Department of Education will check your credit history. To be eligible to receive a Plus loan, you must not have an adverse credit history. If you have an adverse credit history, you may still receive a Direct Plus Loan if you are able to obtain an approved co-signer (endorser) who does not have an adverse credit history. Save the result of your credit check as a PDF file and it to us. 8. Entrance Counselling We will need you to complete your Entrance Counselling and send us a copy of the confirmation of completion of entrance counselling as a PDF file or screenshot. To complete your Entrance Counselling, go to the website and work through the Entrance Counselling for each type of loan, ie Direct Subsidised/Unsubsidised Loan/Direct Plus Loan as appropriate. To complete your Entrance Counselling, you will need a Federal Aid PIN. This is the same PIN as you used to complete your FAFSA. It is a formal requirement that all students who take out Direct Loan funding work through the entrance counselling. Entrance counselling is designed to ensure that you are fully aware of your rights and responsibilities in terms of making loan repayments. 19