Funding and loans for US students studying in the UK
If you are a US citizen or national you can choose to fund your studies in different ways.
Funding your studies
Planning to meet the costs of attending university is an investment in the future, and there are a number of options you should consider when planning to fund your studies, including:
- education loans (federal Title IV Direct Loans and private loans like Sallie Mae)
- part-time work
If you are a US citizen or national who wants to study at the University of Bath, you can apply for US student loans towards your educational related costs.
The US Department of Education has produced some helpful video guides about the types of loans that are available, who can get them, responsible borrowing and repayments, along with their own Facebook page.
Title IV Direct Loans
Title IV Direct Loans are federal loans and can be either subsidised or unsubsidised. Subsidised means the federal government pays the loan interest while a student is in school. Unsubsidised loans are available to undergraduate and graduate students. You don’t have to start repaying Direct Loans until six months after you leave school.
Federal student loan interest rates are tied to financial markets under the Bipartisan Student Loan Certainty Act of 2013. This means that interest rates are determined for new loans in June each year. These new rates apply to the upcoming award year, which runs from 1 July to the following 30 June.
Federal loans have a fixed interest rate for the life of the loan as well as income-based repayment plans.
Before you apply for a loan, you should think about whether you can afford to make the repayments. StudentAid has a repayment estimator to help you plan your education loans and repayment options.
Find out about applying for a Title IV Direct Loan.
Types of Title IV Direct Loan
StudentAid is an office of the US Department of Education and has information about the different types of Title IV Direct Loan available.
Find out about:
- Direct subsidised and unsubsidised loans
- Direct PLUS loans (Graduate and Parent PLUS)
Eligibility for Title IV Direct Loans
StudentAid has basic eligibility criteria for Title IV Direct Loans.
You cannot apply for a Title IV Direct Loan to study at Bath if you are:
- studying our MA Contemporary European Studies ('Euromasters' and 'Euromasters with Trans-Atlantic track') - you may be eligible for a private Sallie Mae Loan
- studying any course where the University is not able to sponsor you on a Tier 4 visa programme
- studying on a distance learning course - you may be eligible for a private Sallie Mae Loan
- registered as attending less than half time - you may be eligible for a private Sallie Mae Loan
- carrying out research, completing your writing-up period or doing a study abroad or work placement year in the USA
You should ask for advice if any part of your course has a placement or period away from the University, as it may affect your eligibility for Title IV Direct Loans.
If you are studying for a PhD, you can return to the USA for 12 months during the writing-up period of your course under the guidance of faculty if your research can't be done outside the United States. This is explained in Federal Register Vol.75, No.210.
Under paragraph (1)(ii)(C), a foreign institution cannot permit students who receive Title IV, HEA program funds to enrol in any course offered by the foreign institution in the United States, including research, work, internship, externship, or special studies with the United States, except that independent research done by an individual student in the United States for not more than one academic year is permitted, if it is conducted during the dissertation phase of a doctoral program under the guidance of faculty, and the research can only be performed in a facility in the United States.
More information about Title IV Direct Loans
StudentAid also has information about:
- borrowing loan limits
- interest rates
- right to cancel
- repayment options
- consolidating your loans
- understanding default
How we use your data
In accordance with US regulations, we are required to submit data in relation to federal loans to bodies such as National Student Loan Data System (NSLDS) for reporting purposes.
Private loans do not typically offer the benefits of federal loans, like fixed interest rates or income-based repayment plans. Private loans are also generally more expensive than federal student loans. StudentAid has more information about the differences between federal and private loans.
Find out about applying for a Sallie Mae private loan.
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