Loan Disbursements
- The US Department of Education will send your loan directly to Queen's by bank transfer. The Income and Student Finance Office will deduct your tuition fees and arrange to pay any remaining balance to you. Your loan will be in £Sterling and you will receive an email notifying you when your loan has been transfered to your UK bank account.
- Federal Loan disbursements are only paid in UK Pounds Sterling and transferred directly into a UK bank account. Therefore on arrival you will need to open a local bank account and complete the direct transfer form. Please bring the completed form to the Income and Student Finance Office.
Undergraduate Programmes
- The US Department of Education stipulates that disbursement of your loans must be made in two instalments - one at the beginning of each semester. As your loans will be disbursed in two instalments, the University will accept payment of 50% of your tuition fees in September and 50% in January/February.
Graduate Programmes
- Disbursement of your loans will be made in three instalments - in late September, late January/February and early June. As your loans will be disbursed in three instalments, the University will accept payment of your tuition fees in three instalments.
- Please Note: Different dates may apply to PhD students who start at other times of the year.
2013-14 Disbursement Dates
30th September 2013
3rd February 2014
9th June 2014
You should be aware that your loan funds will be transferred to Queen's close to the above disbursement dates. It can take two weeks for the funds to be cleared by the bank and made available to you. You should therefore, ensure that you have alternative funds available to cover your costs should your loan be delayed for any reason.
Cancellation Policy
If you wish to cancel or reduce a loan at any stage of the academic year a minimum notice of 10 business days is required prior to the next disbursement. Please email usloans@qub.ac.uk clearly affirming if you wish to cancel the entire loan or a disbursement. To reduce your loan, you must clearly state the $ USD amount you wish to reduce your disbursement by.
WARNING - if we do not receive the minimum notice of 10 business days, then your disbursement will be released and you will be responsible for its repayment and any interest charges.