I’ll post about my student loan process, despite it all being dreadfully boring, for any future GEP Dick Vets that are confused.
I applied for my loans through Sallie Mae. Although Sallie Mae allows for you to electronically sign your Master Promissory Note (MPN) and send your FAFSA paperless as well, the University’s international student finances office needs everything hard copy. So, expect to fax or mail your MPN, FAFSA, copy of your acceptance letter, and cover letter to the office, as per their website, in addition to applying through Sallie Mae. Sallie Mae will provide a lender for you to use, which you will need for your cover letter.
Apply for the maximum of Subsidized/Unsubsidized Federal Stafford Loans first. You will qualify as an independent because you are going to what the US considers a graduate programme, even though the university calls it undergraduate study. After you’ve exhausted your Stafford Loans, which at this point cover about half of your tuition, you will need a Graduate PLUS Loan. You can apply for a private loan, but I recommend that you do this as a last resort, if you can’t get enough from the PLUS loan, since interest rates are generally higher.
There is technically no limit to how much you can borrow as a Grad (NOT Parent) PLUS loan, but the University will not give you more than the expected cost of attendance. A spreadsheet detailing your cost of attendance if available at their Student Aid website as well. So far it seems pretty accurate to me, although they can only estimate the future exchange rate between USD and GBP. The University provides emergency funding for international students who see a sudden change in exchange rates that is not in our favour, but it’s not much. So that’s when private lenders may enter the picture.
I plan on keeping this page up as an archive and updating it when I learn more about the process. The financial aid office has been very friendly with my long and obnoxious emails, but there seems to be no other resource for first time students except for the University’s webpage, so hopefully I can clear up confusions.
If you stumble across this page and find that the information it inaccurate, out of date, or you have additions you want to make, please comment!
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