Private Loans

Before applying for a private loan you should exhaust your federal loan eligibility. Please read all of the available information about Federal Direct Loans before making any borrowing decisions. Federal loans generally have better benefits and lower, fixed interest rates. You can compare federal loans with private loans on the Federal Student Aid website here. 

Sallie Mae is currently the only U.S. lender that offer private education loans outside of the U.S. as far as we are aware.

Learn about your student loan options with Sallie Mae: 

Sallie Mae Student Loans

Brochure-Sallie Mae Graduate School Loan

Brochure-Smart Option Student Loan For undergraduate students

PLUS loan Vs Private loan

Application timeline-Application to disbursement

Loan Repayment:

Understanding Student Loan Payments

Tips for sucessfully repaying your student loan

Student Loan Payment Amount Estimator

Application

1. Request a cost of attendance and award letter from usloans@qub.ac.uk. This will determine how much you can borrow to supplement your federal loans and the maximum amount you can borrow in a private educational loan.

2. Make your application with Sallie Mae online at Sallie Mae Student Loans. 

3. The financial aid administrator will check that you have not requested above your cost of attendance before certifying your private loan. 

Receiving your loan

Private loans will be disbursed in full at the start of the year. You must be fully enrolled and registered at Queen's before we can disburse your loan. The disbursement date used is the date that Sallie Mae issues the cheque in the U.S. and it may take up to 10 days to be received by Queen’s.

Private loans can only be paid in GBP and transferred directly into a UK bank account. Therefore on arrival you will need to open a local bank account and complete the bank transfer form. Please bring this form to the Student Finance Office in the Student Guidance Centre before your loan disbursement is due. Your tuition fees will be paid before the remaining balance is transferred into your UK bank account. If you wish to pay your tuition fees by other means please discuss this with the Student Finance office.