You will be required to complete Exit Counselling shortly before the end of each academic year and the Student Financial Support Team will contact you to advise you when this should be completed.
How much can I borrow?
The amount you are allowed to borrow through Direct Loans will be determined by your estimated Cost of Attendance (CoA) and the limits set by the US Department of Education and is an estimate of how much it will cost you to study at the University of Reading. You may borrow up to the Cost of Attendance and no more. Your Cost of Attendance will include tuition fees, accommodation fees, general living expenses, travel and miscellaneous costs. It will also make deductions for any Estimated Family Contribution (EFC) as defined by your Student Aid Report (SAR), your Estimated Financial Assistance (EFA), and any bursaries/scholarships you are receiving, either from the University or an external organisation. Please note these costs are estimates based on average annual expenditures of an undergraduate or postgraduate single student enrolled on a full-time course. If you believe your costs may be different based on your living arrangements or exceptional circumstances, please email USLoans@reading.ac.uk. You may be asked to provide written justification for your requested adjustments.
The loans available to you will depend on your level of study (undergraduate or postgraduate) and your dependency status (dependent or independent) as indicated on your Student Aid Report (SAR).
The US Department of Education charges an origination fee on all loans and this is deducted from each disbursement. For more detailed information, including the Annual and Aggregate Loan Limits and interest rates, please see the Federal Student Aid website.
Your loan will be disbursed throughout the year as follows: Undergraduate (UG) and Post-Graduate Research (PGR) student loans in two equal instalments. UG in October and February, and PGR in October and April. For Post-Graduate Taught (PGT) we disburse loans in three equal instalments in October, February and June. Detailed information will be included on your offer letter. Disbursements can only be made to students who have fully enrolled on their programme of study and are making satisfactory academic progress. The University of Reading will disburse your loan by crediting your University account to pay for your tuition fees, accommodation and any other university authorised charges. If any money remains following payment of University charges, the funds will be paid directly into your UK bank account. It is therefore essential that you open a UK bank account at the earliest opportunity and instructions will be provided as part of your enrolment process.
Maximum direct loan eligibility
The maximum amount we can certify as loans is the full Cost of Attendance (CoA) minus any other aid (i.e. scholarships/bursaries). It is up to you to determine how much you want to borrow, up to the maximum available.
Satisfactory academic progress
In order to fulfil the Satisfactory Academic Progress requirements, students in receipt of US Federal Aid are required to maintain an average of 40% (or a pass standard where numerical marks are not awarded) and pass all requirements at the end of the year for progression to the next year. In addition, students must progress and complete their course within 150% of the normal full-time duration. Where students commence a course with Accreditation of Prior Learning (APL = transfer credits) then the normal full-time duration will be reduced by the number of full years of study they are not required to study at the University.
You should ensure you have read the University’s Academic Progress Standard Policy. Satisfactory progression to remain eligible for Title IV Direct Loans is entirely separate from the academic requirements to remain on your programme of study and does not guarantee the outcome of your programme.
Your academic progress will be checked by us before any loan funds are disbursed. We will ask your Personal/Senior Tutor to complete a Termly Progress Report form at the end of each term. It is essential that this is completed in a timely manner so that your disbursement can be paid on time.
Scholarships and awards
It is essential that you notify the Student Financial Support Team if you have been awarded any additional scholarships or bursaries, as this may affect your funding. Please email a copy of any award letter(s) to USLoans@reading.ac.uk.
Suspension of studies
Students may interrupt their studies according to the rules set out in the University’s Suspensions Policy. A student may apply for a period of suspension through submission of a Change of Status - Suspension Request Form. While all such requests will be considered by the University, it should be noted that suspension is not an inherent right of students; suspensions are granted at the University’s discretion and must be authorised by the University’s staff as indicated in the Policy.
Students in receipt of Federal Aid should note that you are only permitted to suspend for a period of up to 180 days in any 12 month period to be considered as having taken a Leave of Absence.
Students in receipt of Federal Aid should note that this funding is restricted to study of no longer than 150% of the normal length of full-time study. Overseas students may also need to comply with UKVI regulations regarding their stay in the UK.
Students withdrawing from a programme of study must complete a Notice of Intention to Withdraw which is available from the appropriate Student Support Co-ordinator and will be used to verify the student’s last date of attendance at the University. Further guidance can be found on the University’s Withdrawing from Study page.
UKVI requires the University to monitor students’ compliance with the Tier 4 immigration rules and, as such, should the University cease immigration sponsorship of a student, then the University may withdraw the student from their course of study and withdraw their Federal Aid funding. The Student Support Co-ordinator will ensure that the University’s student record information system (RISIS) is updated with the student’s last date of attendance at the University.
The official date of withdrawal will be used to determine any refund in accordance with either the University’s Fees Policy or the Return of Title IV Funds Policy.