International Student Support

US Loans

Queen's University is recognised as a Foreign School by the US Department of Education and holds a Title IV Agreement. Our School Code is G22736. This website provides guidance for US students about accessing federal and private loans to fund their studies at Queen's University Belfast. Like most Foreign Schools, Queen's University Belfast does not have a Financial Aid Office. US Loans are administered at Queen's by International Student Support, based in the Student Guidance Centre. Once you have applied for Federal Student Aid we will guide you through the process by email.

ELIGIBILITY

US Federal loans are generally available to eligible students who have received an unconditional offer to study at Queen’s; will be studying at least half-time and are not in default on a previous loan or exceeding Federal loan limits. To maintain eligibility throughout the year, students must be making satisfactory academic progress; cannot take more than 150% of the normal time to complete a programme (Approved leave of absence will not be considered in the calculation) and cannot study in the US.

Eligible Programmes:

Bachelor’s Degree

Masters or PhD programmes

Non-eligible Programmes:

Programmes leading to a diploma or certificate

Medicine

Nursing and Midwifery

Programmes taught within colleges associated or affiliated with QUB

A programme offered in whole or in part by distance learning

 

There are three types of US Federal Loan – Subsidized (available to undergraduates only), Unsubsidized and Plus Loans (available to graduate students or the parents of dependant undergraduates). You may borrow only up to the estimated cost of attendance for your programme (including tuition, subsistence and airfare)

Please note that all loans must be repaid. It is the responsibility of the borrower to repay the loan, and to clarify the interest rates, repayment terms and conditions prior to application.

 

DIRECT SUBSIDIZED AND UNSUBSIDIZED LOANS

  • Direct Subsidized and Unsubsidized Loans are partly subsidized by the US Government.  Information on interest rates and repayment terms can be found on the US Department of Education website.
  • The Budget Act of August 2011 resulted in loss of eligibility of Graduate/Professional students for subsidized loans with effect from 1 July 2012. Direct Subsidized Loans are now available only to Undergraduate students, while Direct Unsubsidized Loans will be available to both Undergraduate and Graduate/Professional students.
  • The maximum loan amounts differ for Dependent undergraduates, Independent undergraduates and Graduate/Professional students. These are shown below along with the aggregate lifetime maximum loan limits.  

 

STAFFORD LOAN LIMITS 2016/17

 

Subsidized

Unsubsidized

Combined Maximum

Dependent Undergraduates

 

 

 

1st Year

$3,500

$2,000

$5,500

2nd Year

$4,500

$2,000

$6,500

3rd Year and Up

$5,500

$2,000

$7,500

Independent Undergraduates

 

 

 

1st Year

$3,500

$6,000

$9,500

2nd Year

$4,500

$6,000

$10,500

3rd Year and Up

$5,500

$7,000

$12,500

Graduate/Professional Students

 

 

 

Each Year

N/A

$20,500

$20,500

 

AGGREGATE LIFETIME MAXIMUM LOAN LIMITS

 

Subsidized

Sub and Unsub combined Maximum

Dependent Undergraduates

$23,000

$31,000

Independent Undergraduates

$23,000

$57,500

Graduate/Professional Students

N/A

$138,500

 

DIRECT PLUS LOAN FOR GRADUATE STUDENTS 

  • If you are a Graduate student and you have taken out the maximum value of Direct Unsubsidized Loans, you can also apply for a Direct PLUS Loan to top up your finances. PLUS Loans are normally available to make up the difference between the Unsubsidized Loan amount and the full cost of attendance of your programme, minus any scholarships. 
  • If you wish to apply for a PLUS Loan, you need to complete the PLUS Request Process on the US Department of Education website. Interest rates and repayment terms can also be found there.  The request process involves a credit check and depending on the results of your credit check you may need a parent to endorse your PLUS Loan application.

 

DIRECT PLUS LOAN FOR PARENTS OF UNDERGRADUATE STUDENTS 

  • Parents of Dependent Undergraduate students can take out a Parent PLUS loan to make up the difference between the Subsidized/Unsubsidized Loan amount and the full cost of attendance of your programme, minus any scholarships.
  • If your parent wishes to apply for a PLUS Loan, they need to complete the PLUS Request Process on the US Department of Education website.  Interest rates and repayment terms can also be found there.  The request process normally involves a credit check. Repayments start at the beginning of the loan period.