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Direct and private loans

Get advice and guidance on subsidised, unsubsidised loans and private loans, as well as repayment conditions and how to apply.

Direct Subsidized loans

These are based on financial need. The amount you may be eligible for will depend on your Expected Family Contribution (EFC).  If you're eligible, the US government will pay (subsidize) the interest on your loan whilst you’re in university, and for the first six months after you leave (grace period).

Repayments usually start six months (known as the 'grace period') after your course finishes or you become less than half-time.

Direct Unsubsidized loans

These are not based on financial need. Subject to eligibility, the University will determine the amount you can borrow based on either the loan annual limit cap or your Cost of Attendance (whichever is lower).  You will be responsible for the interest on an unsubsidized loan from the time the loan is disbursed, until it is repaid in full.

Repayments typically start six months after your course finishes or you become less than half-time.

Direct Grad PLUS loans

Fixed interest loans for students undertaking postgraduate courses (subject to credit requirements). You must apply for the maximum direct unsubsidised loan before taking out a Graduate Plus loan, however both applications can be made at the same time.

The university can certify up to the full Cost of Attendance – minus any other financial aid.  There is no grace period i.e. the loan enters repayment as soon as the funds are disbursed.

Repayments can be deferred until after graduation while you are enrolled at least half time.

Direct Parent PLUS loans

For eligible parents to pay for the cost of education for a dependent undergraduate student who are enrolled at least half-time.

The interest rate is fixed for the life of the loan.  A credit check is required.  Parent borrowers with adverse credit history may still be able to borrow a Direct Parent PLUS Loan, with the use of an Endorser.  The university can certify up to the full Cost of Attendance minus any other financial aid received for the student

Private Loans

Nottingham Trent University is willing to work with any authorised Private Loan provider who will fund a student studying to for a degree at a Foreign School. However, at the present time we are only aware of one private lender that makes private loans available to US citizens receiving their degree at a Foreign School.

This is through the Sallie Mae Loan Provider.

Please note that the terms and conditions of Direct Loans may be more favourable than private loans and we encourage you to explore eligibility.

Private Loans are assessed using the same Cost of Attendance criteria as the Federal Direct Loan program (although no origination fee is included where this is not charged).

This will include deductions for any Estimated Financial Assistance received through Scholarships, Bursaries or the Federal Direct Loan program. Ordinarily all Private Loans payments will be split across 3 disbursement dates.

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