US Federal Loans

 To apply for a loan for the 2020-21 academic year, you must follow the application process outlined below. You should only start the process once you have had an offer from the University of South Wales. Although you can complete your FAFSA for 2020/2021, please note that we will not start processing your loan application until June 2020 and we cannot certify any US Loans on the US systems until July 2020

Step 1 – Complete your FAFSA

You need to have completed a Free Application for Federal Student Aid (FAFSA)to determine your eligibility for federal loans. If you are a continuing loan student, you should have completed a renewal FAFSA.

You will need to include the University of South Wales’ School Federal Direct Loan Code G35473 on your FAFSA.

Once you have completed your FAFSA, this will produce a Student Aid Report (SAR) and this will be used by the University to determine your loan eligibility. Please send us a copy of  the Student Aid Report. 

Step 2 Complete your Master Promissory Note(s) (MPNs)

Undergraduates: Complete an MPN for the Subsidised and Unsubsidised loans, and, if applicable, your parent should complete a separate MPN for the Parent PLUS loan.

Graduates: Complete an MPN  for the Unsubsidised loan and, if applicable, one for the Grad PLUS loan.

Use the University school code G35473.

If you are intending to apply for a PLUS loan, or your parent will be applying for a Parent PLUS loan, you, or the parent, will need to complete the “Apply for a PLUS Loan” section.  This should automatically trigger a Credit Check.  Once approved by the system you will be able to view the Credit Check- please send us a copy of this of the outcome of the credit check.

As we are a foreign school, new MPNs must be completed for each year of study.

Step 3 Complete entrance counselling

You must complete entrance counselling if you are a federal Direct Loan first-time borrower who has not yet completed entrance counselling for a specific loan type (Unsubsidised/Subsidised loans, or PLUS loans). If you have completed entrance counselling in a previous year of study for a specific loan type at University of South Wales , you do not need to complete this step.  

Step 4 Email us at usloans@southwales.ac.uk

We are not automatically notified when a student has selected our institution on their FAFSA.  Therefore, once you have completed steps 1-3 please email us at us.loans@southwales.ac.uk with a copy of:

1. your offer letter from the University, 
2. your SAR
3.  your signed MPN(s) 
4.  a screenshot of your complete entrance counselling
5. Evidence of credit check (if applicable)

Step 5 Wait to receive your cost of attendance

From June onwards, the Federal Student Aid Officer at the University of South Wales will email you a Cost of Attendance to inform you of the amount of loan you can borrow and the types of loans you can borrow. 

Step 6 Return your completed funding offer form

Once you have received your Cost of Attendance, please confirm the types and amounts of loans you would like to borrow by completing the Funding Offer form and returning it to usloans@southwales.ac.uk

Step 7 loan Certification

If steps 1-6 have been successfully completed, the University will originate your loan on the US systems. We are not able to certify your US loans on the US Systems until early July. You will receive a notification letter from us outlining the amount of loans you will receive, your disbursement dates, and the period / academic year your loan relates to. The wording and format of this letter has been agreed with UK Visas and Immigration as acceptable proof of funding for visa applications.

This loan notification letter will be emailed to you. 

You can download a copy of this process here 

A Cost of Attendance (CoA) will be emailed to you once you have completed all the application process steps. The CoA is an estimate of your educational related costs for the academic year. The CoA will specify the total amount you may borrow through federal loans minus any other aid you may be receiving for that academic year such as bursaries or scholarships. If you are eligible for a Subsidized loan, your Expected Family Contribution (EFC) will also be deducted from a CoA figure to establish your ‘financial need’.

The CoA for students studying at the University of South Wales is set by the  Student Money Advice Team. These educational costs relate only to you, the student. These costs cannot include costs for partners or children (other than childcare or nursery costs). We will take the average cost of the following in to consideration for calculating your costs of attendance

• Tuition Fees
• Accommodation and Living Costs
• Course costs
• Visa and Healthcare
• Transportation (2 return flights)
• Transportation (2 return transfers to London)
• Loan fees

Please note, whilst your CoA can include Travel, we cannot issue loan payments before the beginning of the academic year so you should not rely on your first payment to finance your travel to the University of South Wales.

While your costs may vary depending on where you stay in South Wales (Cardiff/Treforest/Newport), we expect your cost of attendance to be roughly in line with our estimates. 

The University uses a standardized exchange rate to avoid fluctuations. The U.S. Department of Education states that students attending foreign (those outside of the United States) schools will have to tolerate such fluctuations.  

There are different loans available depending on whether you are an undergraduate or postgraduate student.

Any loans that you take plus any additional financial aid (awards, bursaries, scholarships etc..) must not exceed the yearly cost of attendance (US regulations).

Subsidized Loans and unsubsidized loans 

Direct Subsidized Loans are available to undergraduate students with demonstrated financial need. The U.S Department of Education pays the interest on subsidized loans while a student is in school for at least half time, whilst in the grace period (the first 6 months after you leave school) and during a period of deferment.

 Direct Unsubsidized Loans are available to undergraduate and graduate students and there is no requirement to demonstrate financial need.  Students are responsible for paying the interest on an Unsubsidized Loan during all periods.

To receive either type of loan, you must be enrolled at least half time on to an eligible program of study.

Direct PLUS Loan

A Direct PLUS Loan is referred to as a Parent PLUS loan when made to a parent and as a Grad PLUS loan when made to a graduate or professional student

Parent PLUS Loan

Parent PLUS Loans are available for parents of undergraduate students who are classed as dependent. Parents can borrow up to the total estimated Cost of Attendance as issued by the University of South Wales.  A credit check will be performed as part of the application process.  Parent PLUS loans are the responsibility of the parent and not the student.

Graduate PLUS Loans

Grad PLUS loans are available for postgraduate students (graduates). A graduate student may borrow up to the total estimated Cost of Attendance as issued by the University of South Wales. 

Private Loans

The only private loan currently available to students at foreign schools is the Sallie Mae Student Loan. To apply for a private loan, you must apply directly to the lender and then send a copy of your e-signed Promissory Note to the US Loans Administration Team.

Please note that Direct Loans maybe more favourable than private loans. It is the student’s responsibility to explore all options available to them before making a decision.

• $31,000 for dependent undergraduate students excluding those whose parents are unable to borrow a PLUS Loan (no more than $23,000 may be subsidized)

• $57,500 for independent undergraduate students and dependent undergraduates whose parents are unable to borrow a PLUS loan (no more than $23,000 may be subsidized)

• $138,500 for graduate or professional students (no more than $65,500 may be subsidized; includes loans for undergraduate study)

Interest rates

If you receive a federal student loan, you will be required to repay that loan with interest. It is important that you understand how interest is calculated and the fees associated with your loan. The interest rate varies depending on the loan type and (for most types of federal student loans) the first disbursement date of the loan.

Fees

Most federal student loans have loan fees that are a percentage of the total loan amount. The loan fee is deducted proportionately from each loan disbursement you receive while enrolled in school. This means the money you receive will be less than the amount you actually borrow. You’re responsible for repaying the entire amount you borrowed and not just the amount you received

The first disbursement of loans will not be paid until students are enrolled at the University of South Wales.  In case of any unforeseen events, please ensure you have personal funds in place to cover your living costs before you receive your first disbursement.

Federal Loans

The disbursement dates for the 2020/21 academic year for both undergraduate and postgraduate students are:

October 2020- actual date TBC

January 2021- actual date TBC

April 2021- actual  date TBC

The actual amount of each disbursement in GBP(£) will be dependent upon the exchange rate used to convert USD($) to GBP(£) on that date

Once you have enrolled at the University of South Wales , from each disbursement (after it has been exchanged into £ GBP) we will deduct an amount towards tuition, accommodation (if you are in University accommodation) and any other charges incurred, and the remainder will be forwarded to you. You will need to open a UK bank account to avoid having to pay two foreign exchange charges.

You will receive an email notification approximately 14 days prior to the disbursement, in line with Federal regulations concerning your right to cancel. Once the disbursement has been made and we have deducted your fees, you will receive a further confirmation of any refund that will be deposited into your bank account.

Please note that it can take up to 14 days after the disbursement date for you to receive your refund. For example, for a disbursement date of 11th October any refund will be paid to you by 25th October.

Private Loans

The Student Funding Office will certify your Sallie Mae loan application once you have enrolled at the University of South Wales. We will request the loan be payable in one instalment and this will be received by cheque. Students will be required to meet with a member of the Student Money Advice Team to endorse the cheque and then hand it to the University’s Revenue Department to be cashed in to the banking system. The University will allocate any Tuition Fees and Accommodation Fees to be paid from the private loan, and pay the student any remaining funds. Please note it can take several weeks for the loan to clear in to the University’s bank account, it is therefore recommended that you have personal funds to support your living costs until the funds clear. 

NSLDS 

The University of South Wales is required, in accordance with Federal Regulations, to report your enrolment status to the US Department of Education via the National Student Loan Data System (NSLDS) every month. Reporting students as studying full-time or half-time at USW will defer any previous Federal US Loans taken out before you started your studies at the University of South Wales .

If you are not taking out Federal US Loans during your study at the University of South Wales, but you wish to defer your previous US Loans as you are now studying, please email usloans@southwales.ac.uk

Satisfactory Academic Progress

To remain eligible for Federal US Loans during the academic year, students must meet Satisfactory Academic Progress (SAP), and this will be measured before each disbursement of your loan. Students are advised to familiarize themselves with the SAP Policy.

Exit Counselling 

Students coming to the end of their studies are required to complete Exit Counselling for each type of Federal US Loan borrowed. This is a condition of your loan terms.

The Student Money Advice Team will email you to remind you to complete Exit Counselling 

You are required to complete Exit Counselling if you drop to less than half-time, withdraw from your studies or complete your studies.

You can complete Exit Counselling on the StudentLoans.gov website.

It is essential that you email usloans@southwales.ac.uk if you change the status of your studies as follows:

• Suspend
• Withdraw
• Transfer course
• Upgrade / downgrade
• Change from full-time to half-time or less than half-time

Under US federal law, the University is required to report any changes to your enrolment within tight timescales. For students who withdraw from their studies, suspend their studies for more than 180 days, or complete their studies earlier than expected, it may be necessary, to complete a Return to Title IV (R2T4) calculation, and arrange for the return any ‘unearned’ funds to the US Department of Education. Further information can be found in the Return of Title IV Funds Policy 

If you are thinking of changing the status of your studies and want to know what your US Federal Loan entitlement will be, please email usloans@southwales.ac.uk

It is the requirement of the U.S. Department of Education that Schools must provide a notice of the availability of all consumer information.  To meet this requirement, the US Loans Administration Team has listed the consumer disclosure information required by the U.S. Department of Education and information on each topic area below. 

 1.            Schools must make available, to current and prospective students, information on how and where to contact staff who can assist students in obtaining institutional and financial aid information.

• For this information, prospective students and current students should visit  US Federal Loans or email usloans@southwales.ac.uk

2.            Regarding Student Federal Aid information: Schools must make available to students information about:

•          All financial student assistance programs available to students who enroll at the school

•          Terms and conditions of Title IV, HEA loans

•          Criteria for selecting recipients and for determining award amount

•          Eligibility requirements and procedures for applying aid

•          Methods and frequency of disbursements of aid

•          Rights and responsibilities of students receiving Title IV assistance

•          Loan terms including sample repayment schedule and necessity for repaying loan

•          Statement about enrolling in study abroad and its impact on applying for financial aid

•          Exit Counselling information the school provides and collect

•         Student Loan information published by US Department of Education

•         Terms and conditions under which students receive Federal Direct Loan

•         Transfer of credit policies

•         Notice to borrowers that loan information will be provided to NSLDS

  For this information, prospective and continuing students should visit US Federal Loans
  

3.            Schools must make available information about the cost of attending the school including: Tuition Fees, Books and supplies, room and board, transportation and annual costs.

Students can find information on all of the above by searching the University of South Wales website

http://www.southwales.ac.uk/

4.            Schools must make available information about:

•          Any refund policies applicable to the school

•          Requirements and procedures for official withdrawing from the school

•          Summary of R2T4 requirements

•          SAP requirements

Please see our R2T4 Policy, our Satisfactory Academic Progress and our withdrawal guide for students policy, which also explains refunds.

5.            Schools must also make available information about:

•          Academic programs at the institution

•         Names of accrediting agencies and governmental bodies that approve, accredit or license the school

This information can be found on our website.

6.            Annual notice to enrolled students:

•          Right to review educational records

•          Procedures for reviewing records

•          Information regarding disclosure of “directory” information

•          Information required to be disclosed under Family Educational Rights and Privacy Act (FERPA) – See 34 C.F.R Part 99

Students have the right to review their educational records. Details on how to do this can be viewed in our student regulations.

7.            Schools must make available information about:

•          Institutional policies regarding vaccines

•          Services and facilities for students with disabilities, including intellectual disabilities

The UK Government website contain important information on medical requirements prior to entering the UK.

Our Disability and Dyslexia pages contain important information for students with disabilities, including intellectual disabilities.

8.            Retention rates:

Schools must report retention rates of certificate or degree-seeking, first-time full-time undergraduates entering the institution. 

Higher Education Statistics Agency (HESA) is the official agency for the collection, analysis and dissemination of quantitative information about higher education.  Table 5 on the HESA website gives the percentage of full time undergraduate degree starters projected to achieve their degree. 

9.            Placement rates - required disclosures:

•          Placement and types of employment obtained by graduates of the institutions degree or certificate programs

•          Include any placement rates calculated by institution

•          Identify source of information provided, including timeframes and methodology

This information is available upon request by emailing the US Loans Administration Team at usloans@southwales.ac.uk Please ensure that you include in your email the name of the faculty that you would like to obtain this information from and allow 7-10 working days for a response.

 10.          Title IV Loan Code of Conduct required for all schools participating in FDL:

•         Must publish code of conduct prominently on institution’s website

•          Must administer and enforce such code

•          Must require that all of the institution’s officers, employees and agents with responsibilities with respect to such loans be annually informed of the provisions of the code of conduct. See 601.21 for requirements

Please see our code of conduct for information on the above.

11.          Private Education Loans Disclosures:

•         Must be distinct from information related to Title IV loans.  

•         Disclosures must include:

•         Any information required under Truth In Lending Act (TILA)

•         Notice that may qualify for loans or other assistance under Title IV

•         Notice that terms/conditions of Title IV loans maybe more favourable than private education loans

Please visit our US Loans pages for information on Private loans.  Prospective and continuing  students should visit  US Federal Loans

12.          An institution must provide, upon request of borrower, the required information:

•         Cost of Attendance

•         Estimated Financial Assistance

•         Difference between COA and EFA

•         A preferred Lender arrangement

Once the US Loans Administration Team has calculated an applicant’s entitlement to funding, we will normally email the applicant with details of the funds that they can apply for and how it was calculated. If you have any queries, please email usloans@southwales.ac.uk.

 13.          Textbook information disclosure:

Provisions are established by law and the Secretary has no regulatory authority. For each course listed in the school’s online course schedule, schools must disclose:

•         International Standard Book Number

•         Retail price for each textbook

•         Indication that required information is unavailable if it is yet to be determined with designation “to be determined”

•        Include a notice on written course schedule that textbook information is on the internet course schedule and include web address

  Textbook information for college bookstores

  Schools must provide to college bookstore operated by or in contractual relationship or otherwise affiliated with school the course schedule for the subsequent academic period.

  For each course/class for the following academic period:

•          The ISBN and price for material for the class

•          The number of students enrolled

•          The maximum student’s enrolment

Each Faculty issues lists of recommended reading to students enrolled on their courses and liaises with the on-campus bookstore with their requirements.

 14.          Peer-to Peer File Sharing and Copyrighted materials

PPA now requires that schools have developed and implemented written plans to effectively combat unauthorised distribution of copyrighted materials including peer-to-peer file sharing. It applies to all users of institution’s network without interfering with educational and research use of network. The written plan must include:

•          1+ technology-based deterrents

•          Mechanisms for education of community

•          Institutional policies and sanctions for violations

•          Procedures for handling violations - including disciplinary action

•          Procedures to periodically review effectiveness of the plan

•          No particular technology measures required

  Peer-to-Peer New Disclosures  - Schools must disclose to students:

•          Explicit statement that unauthorised distribution of copyrighted material may subject to civil and criminal liabilities

•          Description of the institution’s policies on unauthorised peer-to-peer file sharing, including disciplinary actions

•          Summary of penalties for violation of federal copyright laws

  Peer-to-Peer File sharing and copyrighted materials:

  Institution must, in consultation with chief technology officer, or other designated officer of institution:

•          Review legal alternatives for downloading or otherwise acquiring copyrighted materials

•          Make available results of the review to students

•          To extent practicable, offer legal alternatives for downloading or acquiring copyrighted materials

For all of the above, please see our Academic Integrity Regulations pages 

15.          Fire Safety - Required of institutions that maintain an on-campus student housing facility:

Components:

•          Fire statistics

•          Annual fire safety report

•          Fire log

  i.              Fire statistics

  Requires statistics for each on-campus student housing facility:

•          Number and cause of each fire

•          Number of persons with injuries related to a fire that resulted in treatment at a medical facility

•          Number of deaths related to a fire

•          Value of property damage

•          Must cover the 3 most recent calendar years

•          Must be reported annually to the Department in Fire Safety report

  ii.             Annual fire safety report

  Report must include:

•          Fire statistics

•          Description of each on-campus student housing facility fire safety system

•          Number of fire drills held during the previous calendar year

•          Policies or rules on portable electrical appliances, smoking and open flames in a student housing facility

•          Procedures for student housing evacuation

•          Policies for fire safety education and training programs for students, faculty and staff

•          A list of the titles of each person or organisation to which individuals should report that a fire has occurred

•          Plans for future improvements in fire safety, if determined necessary by the institution

  iii.                Fire log

•          Must be written and easily understood

•          Must include all fires in on-campus student housing facilities

•          Nature, date, time and location of each fire

•          Fires recorded by date reported

•          Entries must be made within 2 business days of receipt of the information

 The University of South Wales Accommodation Department works within the UK codes of practice legislation regarding halls of residence and are in compliance with all aspects of the codes including fire safety.  Please see our Fire Safety andEmergency procedures. For more information on Fire safety please contact the US Loans Administration Team.

 16.            Missing Student Notification:

Required of institutions that maintain an on-campus student housing facility.

•          Must have a policy regarding missing student notification procedures for students who reside in on-campus student housing facilities

•          Titles of persons or organisations to which individuals should report that a student has been missing for 24 hours

•          Requires that any missing student reports be immediately referred to campus police or local law enforcement

•          Option for each student to identify a contact to be notified within 24 hours of determination by local law enforcement that student is missing

  Required actions, within 24 hours of the determination that the student is missing:

•          Immediate referral of missing student report to authorities

•          Notification of their parent or guardian, for students under 18 who are not emancipated

•          Initiation of emergency contact procedures

The Accommodation Department abides by the University’s missing students protocol. The Campus Life Coordinators and Duty Staff are however most likely to be the first point of contact should student residents have concerns about another residents whereabouts.   The Accommodation Team collects information from students regarding their chosen Emergency contact person as part of their contract. 

17.            Drug and Alcohol Abuse prevention and drug related offences:

HEOA added requirement that as part of biennial review of prevention program effectiveness schools:

•          Determine number of drug and alcohol violations and fatalities that occur on campus and are reported to campus officials

•          Determine number and type of sanctions imposed as result of these violations and fatalities

•          At enrolment, schools must provide student with separate notice regarding penalty for federal or state convictions of drug-related offenses while receiving Title IV assistance

•          If a student loses eligibility for this reason, school must notify student of loss of eligibility and ways to regain eligibility

Residents in halls who are caught using/dealing with drugs will be excluded as stipulated in the disciplinary procedure.

The University of South Wales Student Services Department also has a reporting system where incidents are recorded along with the action taken.

18.           Special Populations:

There are additional disclosure and reporting requirements for:

•          Co-educational schools that have intercollegiate athletic programs (schools that offer athletically-related student aid)

•          Gainful employment programs

  The ‘Special Populations’ requirement does not apply to the University of South Wales as we do not offer athletically-related Federal Student Aid and we do not offer gainful employment programs.

  More information on studentregulations and procedures.