Please use the helpful checklist below to ensure that you have completed all the necessary steps to guarantee your loan(s) are processed timely and ready for disbursement in the new 2014-2015 academic session.
Students are required to apply for admission to the University of Edinburgh and be offered a place of admission before Financial Aid staff will originate any loan. Details on how to apply for undergraduate and postgraduate admission can be found on the University's website.
Confirm your programme of study is based on campus in Edinburgh for the full year. If your programme is not based on campus, please contact Financial Aid staff for further advice.
In order to receive an award package, students are required to complete the Free Application for Federal Student Aid (FAFSA) from the U.S. Department of Education.
The University of Edinburgh's federal code is 006839.
A Student Aid Report (SAR) will be sent to you from the Department of Education once the FAFSA is completed. If you listed The University of Edinburgh on your FAFSA, the University will receive an electronic copy of your SAR.
If there are any discrepancies with your FAFSA (selected for verification, C Code, rejected record), Financial Aid staff will notify you by e-mail.
You can determine the level of loans that you wish to borrow by using the relevant Cost of Attendance spreadsheets.
Following receipt of your cost of attendance, Financial Aid staff will ask you to confirm the loans and the loan amounts you wish to borrow.
Based on the information from your FAFSA, and the information provided from your cost of attendance, Financial Aid staff will be able to provide a financial aid award package. This will detail the loans you will take out and state the disbursement dates and loan amounts. This award letter will be emailed to you and should be used to satisfy visa requirements.
To take out a Direct Loan at a foreign institution, you must complete an electronic Master Promissory Note (MPN) each year of your degree programme. Please note that you must complete an MPN for each loan that you take out. So for example if you take out a Direct loan and PLUS loan you would need to complete a separate MPN for both the Direct loan and the PLUS loan. MPNs for PLUS loans must be completed using a US postal address as overseas addresses will result in the credit check being automatically pended.
The MPN is a legal document in which you promise to repay your loan(s) and any accrued interest and fees to the Department of Education.
The electronic MPN process must be completed in an entire session. If you exit the website without completing the MPN, you will need to start over. The session should take about 30 minutes online.
The MPN can be completed on the StudentLoans.gov website.
If you are a first time borrower for a Federal loan at the University of Edinburgh, you must complete entrance loan counseling. If this requirement is not satisfied, Financial Aid staff will be unable to originate your loan and your loan funds will be delayed. This can be completed on the StudentLoans.gov website.
This article was published on Apr 28, 2014