US loans

To be eligible to receive Federal Aid, you must:

• Be a US citizen or eligible non-citizen with a valid Social Security number
• Be a student enrolled or accepted for enrolment in an eligible programme at an eligible institution
• Have a high school diploma or equivalent
• Be enrolled at least half-time for the period for which the federal loan is originated
• Complete the Free Application for Federal Student Aid (FAFSA) each year
• Not be in default on an educational loan and not owe a repayment on an adjusted federal grant
• Comply with the University’s satisfactory academic progress policy (see Maintaining Eligibility below).

Full details set of the criteria set by the USDE are available to view on the Federal Student Aid website: Eligibility Requirements | Federal Student Aid.

Ineligible programmes

Please be aware that there are restrictions on the University’s ability to offer federal loans to students on certain programmes. In accordance with regulations governing Federal Student Aid, the following programmes are not eligible for federal loans:

• Courses that are offered in full or in part by online, through telecommunications and correspondence including distance learning
• Courses that involve studying outside the UK for more than 25% of the total course duration (contact usloans@surrey.ac.uk for more information)
• Any course that offers more than 50% of its programme through internship
• BVMSci Veterinary Medicine
• BMBS Medicine
• PG Dip Physician Associate
• BSc Nursing, Midwifery and Paramedic Science.

This is not an exhaustive list. Please note that if any element of your course is ineligible for federal aid, you will not be eligible to receive federal loans for any part of your course. If you have any concerns about the eligibility of the course you want to study, please contact usloans@surrey.ac.uk. 

If you will be coming to the University of Surrey as a Study Abroad or exchange student, you will need to process your loan application through your home University.

If you want to study on an ineligible programme, a private loan may be an option (see Other Sources of Funding for more information).

Study abroad and exchange

Most students at the University have the option of adding a voluntary study abroad/exchange component to their studies. You can find out more about study abroad and exchange opportunities on our website or emailing ieo.outgoing@surrey.ac.uk. 

Students who receive Federal Aid need to be aware that you are potentially allowed to take up to 25% of your programme of study in the United States or at an institution outside the United States provided there is a written agreement. Please note that the Study Abroad and exchange must not exceed 25% of your studies.

For students to remain eligible to receive federal aid, the study abroad programme must make up no more than 25% of the maximum credits undertaken for the whole programme and where a written arrangement is in place, as detailed in the Code of Federal Regulations Part 602, subpart B, paragraph 22. 

As a student on a Direct Loan programme, you must refrain from undertaking study abroad in the US or at any University, which does not hold the Title IV stipulation. Please see the list of Title IV eligible institutions (PDF).

Ineligibility for grants

As a student at a foreign school, you are not eligible to receive PELL Grants or other ‘Campus Based’ Funds. In addition, students undertaking a work placement year for any programme type would not be eligible for US Federal Aid on their placement year.

Available Loans

As a foreign school, the University of Surrey is eligible to originate loan applications for Federal Direct Loans and PLUS loans. Full information on these loans can be found on the Student Aid website: Student Aid | Federal Student Loans

Stafford Subsidized

• Who is eligible: Undergraduates only
• Key Features: 
  • Fixed annual limit
  • Based on financial need 
  • Non-credit-based.

Stafford Unbsubsidized

• Who is eligible: Undergraduates and postgraduates
• Key features:
  • Fixed annual limit
  • Based on financial need
  • Non-credit-based.

PLUS Loan

• Who is eligible: Postgraduates who were enrolled in a course at Surrey before 1 July 2026 and received a federal loan for that course before this date 
• Key features: 
  • Borrowed on top of Stafford loans to cover the remainder of the Cost of Attendance.
  • Credit-based.

Parent PLUS Loan

• Who is eligible: Parents of dependent undergraduates
• Key features:
  • Borrowed on top of Stafford loans to cover the remainder of the Cost of Attendance.
  • Credit-based.

The maximum amount of Federal Direct Loan funds that a student is eligible to borrow is set by the US government. The amount that a student can borrow each academic year is controlled by the stage of their studies, whether they are a dependent or independent student, their financial need and their Cost of Attendance.

You cannot borrow more than your financial need or your Cost of Attendance.

The USDE charge an origination fee on all loans which is deducted from each disbursement.

Undergraduate students

Postgraduate students

Direct loan aggregate limits

This is the total of how much you can borrow over your lifetime.

The origination fee is a charge made by the USDE to cover the administrative charges related to your loan. For information on origination fees charged by the USDE, please see: Federal Student Aid | What is the origination fee

Please note: the loan origination fee is subject to change by the USDE.

The University of Surrey does not charge any loan fees. The USDE funds received by the University are converted into the equivalent GBP according to the daily exchange rate. Fluctuations in exchange rates cannot be used to increase the Cost of Attendance.

For information on interest rates, please visit the Federal Student Aid website.

Each academic year, the University will determine your Cost of Attendance (COA). This is not decided on the exact amounts you will pay but is based on the average costs for a student attending the University on your programme, if you attend at least half time, and is based on your period of study. While your costs may vary depending on where you live while you are at University, we expect your COA to be roughly in line with our estimate.

The elements that are included in the COA are:

• Tuition fees for the year
• Living costs including room (accommodation) and food (board)
• Books, course materials, supplies and equipment
• Travel while at University
• Two return flights from the USA to the UK.

You are eligible to receive loans up to the total value of the less your other financial aid (OFA) and your Student Aid Index (SAI). This calculation will provide the amount of loans you are eligible to receive. The total that you may borrow in federal and private loans and the value of any scholarships or bursaries you may be receiving may not exceed your COA.

Students are recommended to only borrow what is needed to cover education expenses. There is flexibility during the year to adjust the amount borrowed as you can request additional funds during the academic year (up to the maximum value of the COA), or you can reduce the value of your loans.

Federal loans are disbursed in two equal instalments, once after the start of the academic year and the other halfway through the academic year.

The anticipated disbursement dates for 2026/27:

Your funds will be converted to £GBP on receipt and currency conversion costs will apply. The actual amount for each disbursement will vary, as it will depend on the exchange rate on the date the funds are received.

Disbursements should be made into a UK bank account where possible. We advise you to open a UK bank account as soon as possible before the anticipated disbursement dates. Read our advice on opening a student bank account.

You will be notified by email of your right to cancel or amend the amount of the disbursement generally three weeks before each disbursement is due to be paid to you. If you wish to make any changes to your federal loan, you must notify us by the deadline specified in the email. If you notify us after that date that you don't need all the money after we have requested the funds from the US Treasury, you will need to return the excess funds as a repayment on your loan.

Any funds returned within 120 days of the last disbursement will be treated as a cancellation and any interest accrued on the returned amount will be cancelled as well. Details of your loan servicer are available via Who’s My Student Loan Servicer? | Federal Student Aid.

Satisfactory Academic Progress (SAP)

To remain eligible to receive your federal loans, you have to maintain Satisfactory Academic Progress (SAP) and remain in at least half time study throughout the course of your programme.

We will check SAP at the end of each semester, ahead of the next disbursement. If you are a continuing student, we will check your SAP before the commencement of the new academic year. Read our SAP policy (PDF).

Change in student status

If you withdraw, graduate or drop below half time (part-time) study, we will update your status with your lender or loan service via the National Student Loans Data System (NSLDS) and you will no longer be eligible to receive further federal loans at the University. This will also enter your federal loans into repayment.

If your student status changes in these ways, we will be required to perform a return of funds calculation to determine if you have earned all the federal aid that was disbursed to you during the payment period. If you haven't completed at least 60% of the relevant payment period, we will need to return any unearned funds in respect of tuition and residence fees to the US Treasury, which may leave you with a debt to the University. Any remaining disbursements would also have to be cancelled. Please see further information in our Return of Title IV Policy (PDF).

This process is separate from the University’s Student Fee & Debt Management Policy (PDF).

Maximum eligibility period for undergraduates

If you are an undergraduate student, you will only be eligible to receive Federal Aid for a maximum period of 150% of the published time frame of your programmes. 

When taking on a Federal Loan, you are required to complete Entrance and Exit Counseling. These should be completed even if you have done them before, as they are required for each school that you study with, and for each type of loan you take out. 

Entrance counseling

To complete entrance counseling electronically, you must have a Federal Student Aid PIN. This is the same PIN used to complete the FAFSA.

Parents are not required to complete entrance counseling for a Parent PLUS loan.

Exit counseling

If you graduate, withdraw or drop below half time study or you complete your studies or if you have confirmed that you won't be borrowing any further federal loans for the remainder of your studies, you must complete Exit Counseling. We will remind you during your final semester to undertake Exit Counseling. Once complete, we will store confirmation of your Exit Counseling on record. 

If you are considering taking a temporary or permanent withdrawal from your studies, we strongly recommend that you have first considered any financial, Visa or accommodation implications. We also encourage students to:

• Have a discussion with their personal tutor, programme lead or a team member from MySurrey Hive to talk through any implications of withdrawing and any alternative options available
• Seek support from the Centre for Wellbeing and/or the Students’ Union 
• Seek advice from the International Administration team regarding visa implications
• If receiving federal loans, we strongly recommend that they contact the International Administration team to discuss the effects of this decision on their visa and their Federal loans by emailing internationaladmin@surrey.ac.uk and usloans@surrey.ac.uk.

A Leave of Absence (LOA) is a temporary interruption in a student's programmes of study. In the context of Title IV funds, an LOA refers to the specific time period during a programme when a student is not in attendance and will return to complete the programme provided, they satisfy a number of specific conditions.

Return of title IV calculation

If a student receiving federal aid withdraws from the University or takes an unapproved leave of absence, we will carry out a return to title IV calculation to determine if you have earned all the federal aid that was disbursed to you during the payment period. This is outlined in our Return to Title IV Federal Student Aid Policy (PDF).

If a student takes an approved leave of absence, the return to title IV calculation is not required.

1. Apply for Federal Aid via the FAFSA: 
   1. As soon as you have submitted your FAFSA, please get in touch with us via usloans@surrey.ac.uk with the following information:
2. Full Name
3. Student URN/Number
4. The course you have applied for
5. Your expected start month and year (e.g. September 2026)
6. A copy of your Student Aid Report (SAR).

See the entrance and exit counseling section for further details on completing this paperwork.

Once you have emailed us to confirm you have submitted your FAFSA, we will ask you to confirm your accommodation circumstances for the academic year (on or off campus) and if you are receiving any Other Financial Aid (OFA). If you are receiving any OFA, you must provide evidence of this. It is important that this information is accurate as it allows us to build the appropriate Cost of Attendance (COA) for you. 

With all the information above, we should be able to build you a loan package. We will send this to you in a Funding Notification Offer letter (FNO). You should read the letter carefully, then sign and date the letter, along with confirming the loan(s) and the amount(s) you wish to borrow. 

In addition to this, we will send you a Bank Account Refund Form for you to complete, confirming your UK bank details. These details will be used to make any living cost payments to you, should there be any once deductions have been made after origination fees and for any tuition and/or accommodation fees. 

The Master Promissory Note (MPN) is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the USDE. It also explains the terms and conditions of your loan(s).

You must complete an MPN for each type of loan you accept. For more information and to complete your MPN, head to the Student Aid website. 

Once you have returned your FNO and Bank Account Refund Form, we will send you a Proof of Aid letter. This letter can be used for Visa purposes if required. 

No further action is required from you after this point, if all paperwork prior to this has been submitted as per the steps. 

Two to three weeks before each disbursement, we will send you an email with details regarding your Right to Cancel and confirming your disbursement. At this point, you will be given a deadline to respond to if you wish to make any changes to your loan. After this deadline, you will be unable to make any changes. 

Please see the Right to Cancel section for further details. 

If you are a US citizen or eligible non-citizen, private loans may provide an alternative means of funding your studies if you cannot cover your entire study and living costs with federal loans or you are ineligible for federal loans. They can also be used alongside Direct Loans.

You can read more about the difference between federal and private loans here. 

We have to certify private loan applications and the amount you borrow cannot exceed your Cost of Attendance. Interest rates are variable and will depend on your credit rating. If credit is denied, you will need a co-signer.

The University does not operate a preferred lender arrangement, which means that students may approach any lender of their choice about a private loan, although it is important to check that the lender will offer loans to US citizens studying at foreign schools outside the USA. We are currently aware that this applies to Sallie Mae and Earnest.

• Sallie Mae
• Earnest 

Private loans may be disbursed multiple disbursements or a lump sum. As interest starts accruing from the day the lender releases the disbursement, you will have more interest to pay if your loan is disbursed as a lump sum.

Students who are a Veteran, service member, Reservist, or qualified dependent may qualify for support through Veteran Aid. For more information, please visit Veteran Aid.