Receiving your loan
Find out what you need to do to receive your federal loan.
Registering with Βι¶ΉΣ³»
To receive the first instalment of your loan you must (enrolment) at Βι¶ΉΣ³». You should ensure that you have sufficient funds from an alternative source to cover any costs until you receive your first instalment.
Our opens on 1 September.
Important
As you will not receive your loan at the immediate start of the academic year, we would advise you to ensure that you have brought sufficient funds with you to cover travel to the University, plus expenses, for a minimum of 6 weeks from the beginning of Semester One.
How you will receive your loan
Your loan will be sent by electronic transfer from the US Department of Education to the University's bank account in equal instalments and you will receive your loan in equal instalments in accordance with Federal Student Aid regulations.
Federal Student Aid regulations require the University to immediately take your tuition and your accommodation fees (if you are in University accommodation) from your loan, before returning any excess to you.
You will be notified of your loan disbursement dates and NET loan amounts in your Notification of Student Loan Letter.
Undergraduate students
You will receive your loan in two equal instalments. The University will take half of your tuition and if applicable accommodation fees from your first loan instalment and the remaining half from your second loan instalment. Your tuition and, if applicable, accommodation fee payments will be credited directly to your University student account.
Graduate taught student
If you are studying a degree which includes a year-long module or a module taught across semesters, you will receive your loan in two equal instalments. The University will take half of your tuition and if applicable accommodation fees from your first loan instalment and the remaining half from your second loan instalment.
If you are studying a degree which does not include a year-long module or a module taught across semesters, you will receive your loan in three equal instalments. The University will take a third of your tuition and if applicable accommodation fees from each of your loan instalments.
Your tuition and, if applicable, accommodation fee payments will be credited directly to your University student account.
Graduate research student
You will receive your loan in two equal instalments. The University will take half of your tuition and if applicable accommodation fees from your first loan instalment and the remaining half from your second loan instalment. Your tuition and, if applicable, accommodation fee payments will be credited directly to your University student account.
Loan excess refunds
After the University has taken your tuition and if applicable accommodation fees, any loan excess will be refunded to you by funds being transferred electronically to your . If you are eligible to receive a refund, Student Accounts will send an email to your Βι¶ΉΣ³» email account. Refunds are issued in pounds sterling and it may take up to 14 days before any loan excess can be refunded to you.
To have any loan excess refunded, you will need to enter your UK bank account details into your account by 1 October. Click on the ‘Personal’ tab and select ‘Financial’ from the drop down menu. On the ‘Financial’ page click on the button that says Bank Account, click ‘Add’, enter your eight digit UK account number and six digit sort code, then click ‘save’.
If you will not have a UK bank account open before 1 October, contact studentaccounts@sussex.ac.uk to provide the details of your international bank account. International refunds will be processed within two weeks from the date your student account is credited with your loan disbursement, but may take a further two to four weeks to clear into your international bank account.
The exchange rate used by the University to disburse your funds will vary for each disbursement as it is set by Western Union at the point when funds are drawn down from the US Treasury's Federal Reserve System.
If you have any questions regarding the disbursement of your loan(s) or your University student account, contact Student Accounts on +44 800 849 4979 or email: studentaccounts@sussex.ac.uk.
Satisfactory Academic Progress
If you are receiving a Direct Loan (Subsidized, Unsubsidized or PLUS) you must progress satisfactorily towards completion of your academic programme in order to remain eligible to receive loan support. Your Satisfactory Academic Progress (SAP) will be checked prior to each loan disbursement, at the end of each payment period.
Direct Loan Exit Counseling Completion
You are required to each year that you receive a Direct Loan. The counseling will provide important information on loan repayment and your rights and responsibilities as a borrower.
You must notify the Financial Aid Office by email (usfinancialaid@sussex.ac.uk) once you have completed the counseling. A report can then be obtained by the Financial Aid Office that shows that you have met the US Department of Education’s requirement.
Reminder: You will need your Federal Student Aid (FSA) ID (username and password) to complete the Exit Counseling. This is the same FSA ID used to complete the Free Application for Federal Student Aid (FAFSA).
National Student Loan Data System (NSLDS)
Details of your loan will be submitted to the National Student Loan Data System (NSLDS) and will be accessible by guaranty agencies, lenders and schools determined to be authorized users of the data system.
In accordance with Federal Student Aid regulations, the University will update your enrollment status in NSLDS every 60 days.
Aid Summary
You can use to view information about the financial aid you have received as well as details of your Aid Summary is populated from data in the National Student Loan Data System (NSLDS).
In-School deferment forms
If you have a form to declare that you are still in-school in order to defer repayments on previous private loans, or to prove you are registered, it must be signed by the relevant office once you are registered and in attendance at the University.
If you are an undergraduate or graduate taught student send your form to the .
If you are a graduate research student send your form to the Research Student Administration Office.
Tax Return (IRS Tax Form 1098-T)
The University does not currently complete IRS Tax Form 1098-T for students (or parents of dependent undergraduate students) to claim an education tax credit. The University does not have an Employer Identification Number (EIN) which is required on the tax form and the form will be rejected without this number.
Student Accounts provide, upon request, a receipt for tuition fees paid that you can submit with your tax return. To request a receipt call Student Accounts on +44 800 849 4979 or email studentaccounts@sussex.ac.uk.
Budgeting
Student Money Advisers in the Student Life Centre offer one-to-one budgeting sessions to help students manage their money. You can request an appointment by emailing moneyadvice@sussex.ac.uk.
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Further help
The has lots of useful videos you can watch, including help with your Direct Loan application and information about repayments.
Contact
The Financial Aid Office are responsible for administering Federal Direct Loans at the Βι¶ΉΣ³». Get in touch by emailing: usfinancialaid@sussex.ac.uk.