Application Process Direct Loans

Students should apply for Direct subsidized/unsubsidized loans before applying for PLUS or Private Loans.There are three steps to apply for Direct loans:

Step 1 Fill out the FAFSA (Free Application for Student Aid) and send your SAR (Student Aid Report) to the Financial Aid Administrator at UCD.

Go to FAFSA website (www.fafsa.ed.gov) and fill in necessary information.

You will need:

• PIN from the Department of Education before you begin (available on FAFSA website)
• Your tax documents from the previous year (if applicable – if you are not required to file taxes, you can fill out the FAFSA without them)
• To ensure that you list UCD as one of the schools you are planning to attend, entering School Code: 010188/G10188.

Applications to FAFSA will produce a Student Aid Report (SAR), which UCD requires to determine your eligibility for Stafford loans. A few days after you fill out the FAFSA, you will be sent a link via email to your SAR.

When you receive your SAR, you must send a copy to UCD, either in the post, by fax or by email. UCD does not receive this automatically from FAFSA – if you do not send your SAR to UCD, we will not know you have made an application.

Step 2 Collect documentation and send it to UCD.

We require the following documentation from you in order to comply with US Department of Education regulations:

1. Offer letter/acceptance letter from UCD (photocopy)
2. Official transcripts from previous universities (photocopy)
3. SAR
4. Proof of US citizenship/permanent residency (photocopy of passport /birth certificate)
5. An active email address where you can be reached to be notified that your cheques have arrived

All of the above documents can be faxed to UCD International Office or posted by mail (See Contact). We do not require certified copies of transcripts. You can also request that the UCD School to which you applied sends copies of your acceptance letter and transcripts to the Financial Aid Administrator in the International Office.

Step 3 Award letter and loan amount declaration

After the Financial Aid Administrator receives the above documentation, you will receive an award letter and a loan amount declaration within a few weeks. To accept your award, please sign and return the loan amount declaration.

Step 4 Make a loan application

Students must apply for loans at studentloans.gov.To complete the application for sub/unsub loans, login to http://studentloans.gov and choose “Complete Master Promissory Note.” Complete the MPN.The PLUS loan is a 2-step process, so you need to fill out "Start PLUS application". Once approved, you fill out a Master Promissory Note for the PLUS under "Complete Master Promissory Note".
If you are not approved for the PLUS loan, please inform the financial aid administrator immediately.Please send copies of your MPNs (Master Promissory Notes) by email to the financial aid administrator as confirmation of your completed application.

Application Process PLUS / GRADPLUS Loans

A PLUS loan is a supplementary loan which makes up the shortfall between Stafford Loans and the actual cost of attendance. This is a credit-based loan programme.

In order to apply for a PLUS loan you must first apply for the full amount of Stafford Loans available to you.

UCD has been advised by the US Department of Education that the application process for federal loans is likely to change over the next few months. As soon as we know the application process, it will be published here.

DISBURSEMENT OF FUNDS

• Funds are sent to UCD in two instalments over the academic year.
• Students will receive half of the money in September and another half at the half-way point in the academic session, usually January.
• Loan funds may only be applied to your account 10 days before the start of the academic semester.
• Once funds are deducted for tuition and other university-related fees, the remainder will be given to you in euro cheque form, which can be used for your living expenses.
• Further information with detailed instructions will be sent to the student when their refund cheques become available.Please note that the cheques can take up to 5 working days to clear once they have been deposited into your bank account.

Application Process for Private Loans

Applications are made directly to the lender in the USA for private loans. If you are applying for private loans, please contact us to let us know you will be applying for a loan.

If you are applying for private loans, please contact us to let us know you will be applying for a loan.

If you are NOT applying for a Stafford/PLUS loan initially, please send us the following documentation:

1. Offer letter/acceptance letter from UCD (photocopy)
2. Contact details (so we can tell you when your cheque arrives)

Some loan companies will not lend money to students studying outside the US. Some companies require co-signers for students attending programmes outside the US. Interest rates also vary significantly between lenders. Please bear this in mind when considering taking out a private loan or comparing lenders.

The following loan companies have made loans to UCD students in the past:

Sallie Mae www.salliemae.com

Please do not hesitate to contact the Financial Aid Administrator if you have any questions regarding your loan.

Important supplemental information regarding loans

While we try our best to make the loan process as smooth as possible, sometimes delays and problems occur that are out of our control.

The best way to ensure your loan application is progressing is to keep in touch with your lender and keep in touch with UCD. 

Please ensure that you arrive in Ireland with enough money to get you through AT LEAST one month, preferably two. During busy periods at the university, there can sometimes be a delay in processing.

Some common problems students' experience:

•  Funding arrives late - student is unable to register at UCD, register with immigration authorities, pay rent, eat, etc
• Student has applied directly to FAFSA and hasn’t notified UCD, so nothing is being done.

These are just a few examples. If you are experiencing problems of any sort regarding your loans, please contact the Financial Aid Administrator in UCD International.