receiving your loan

Page last updated:
06 Sep 2021

Receiving your loan

On this page you’ll find information about when you’ll receive your loan, and what you need to do to ensure you receive it in a smooth manner. You can also use our US Loans Checklist to ensure you have completed everything you need to do before starting your studies for the year.

When will I receive my loan?

Loans for postgraduates are divided into three equal instalments at the beginning of term; undergraduates receive two instalments. At each disbursement, if there is a tuition fee to pay, this will be divided by the number of disbursements and deducted off the loan.

The Finance Office is responsible for making any payments to the student and acts on the recommendations of the US Loans Office who will ascertain what deductions need to be made for tuition fees and university accommodation prior to any payments to the student.

Due to the nature of the process, all students are advised to bring sufficient money to sustain their living costs for approximately two to three weeks.

Disbursements of the Federal Direct Loan are made as follows:


Fall start 2021-22

  • First disbursement: 4 October 2021
  • Second disbursement: 7 February 2022


Fall start 2021-22

  • First disbursement: 4 October 2021
  • Second disbursement: 31 January 2022
  • Third disbursement: 30 May 2022

Spring start 2021-22

  • First disbursement: 31 January 2022
  • Second disbursement: 30 May 2022
  • Third disbursement: 19 September 2022

Students must have enrolled fully before the checklist is signed and dated by our university. Students should ensure that they have brought sufficient money to cover any living costs up until the first disbursement has been received.

Our university requests that students open up a UK bank account so any funds can be paid directly into it. If a student is having issues setting up an account initially, payment can be made in the form of a UK cheque (however, please note the length of time a cheque takes to clear will vary between banks).

Your loan funds will be converted to pound sterling on receipt and currency conversion costs will apply. As a result, the actual amount our university receives for each disbursement will vary.

Students need to be aware that the United States will deduct an originating fee from every loan so the actual amount received will also be less than borrowed.

Frequently asked questions (FAQs)


As our university doesn’t currently have a USD bank account we can only make payments to you in pound sterling. Therefore you will need to set up a UK bank account as soon as you have enrolled. To open a UK bank account you will need:

  • Proof of your identity – this could be your passport
  • Proof that you are a student – this could be your offer letter or a bank letter from our university
  • Proof of your address – this could be your contract, a utility bill or a bank letter from our university

You can request official letters via our Official Letters web page. 

For more information about UK money, please see our Managing Your Money page.

contact the us loans team

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