Additional Information
In addition to your traditional degree programs Private Loans can assist students borrow for programs that are ineligible for federal aid. These types of programs may include, non-degree courses (such as diploma courses), distance learning courses, courses where a period of study involves time in the United States (such as independent research or an internship) where the student is still enrolled at the foreign institution or studying as part of a joint degree with another foreign university.
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.
You may borrow a combination of private and Direct/Plus loans, however your total loan amount may not exceed your cost of attendance.
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.
Terms and/or conditions of Title IV loans (Subsidized, Unsubsidized and Plus loans) may be more favourable than private education loans.
Sallie Mae has made loans to UCD students in the past.
If you are enrolled in a full-time course at UCD, you may be eligible to defer your previous loans.
The University runs enrolment reports every 60 days. This involves updating NSLDS (National Student Loan Data System). Once your status has been updated this is available to your loan servicer. If you are taking out loans with the University this will be done for you automatically without requiring documentation.
If you are not borrowing loans for your studies, but have previous loans you wish to defer, the first step is to get a deferment form from your lender, complete it and bring it in to the Financial Aid Administrator to verify your enrolment. Please ensure you have the mailing address, fax or email of your lender. If you are receiving loans at UCD, you may still need to fill out deferment forms for your other loans.
Federal regulations require Title IV financial aid funds to be awarded under the assumption that a student will attend the institution for the entire period in which federal assistance was awarded. When a student withdraws from all courses for any reason, including medical withdrawals, he/she may no longer be eligible for the full amount of Title IV funds that he/she was originally scheduled to receive. The return of funds is based upon the premise that students earn their financial aid in proportion to the amount of time in which they are enrolled. A prorated schedule is used to determine the amount of federal student aid funds he/she will have earned at the time of the withdrawal. Thus, a student who withdraws in the second week of classes has earned less of his/her financial aid than a student who withdraws in the seventh week. Once 60% of the semester is completed, a student is considered to have earned all of his/her financial aid and will not be required to return any funds.
In accordance with U.S. Department of Education regulations[1], schools are required to assess the academic progress of eligible students receiving Title IV funds. The purpose of Section I is to define terminology as outlined in the federal regulations. These regulations are effective for all financial aid students beginning July 1, 2011.
The purpose of Section II is to define procedures for monitoring the satisfactory academic progress (SAP) of financial aid students. The purpose of Section III is to establish procedures for students who are not meeting these standards and who have extenuating circumstances to file an appeal and apply to have their eligibility reinstated.