Student Services

Sallie Mae and Earnest are the only lenders of which we are currently aware that will lend funds for private loans to US students studying outside the US.

The maximum which can be borrowed will depend upon your cost of attendance which the University sets, this includes tuition fees, housing, travel, visa fees, etc.  Please email us at usloans@lincoln.ac.uk and we can provide more information about how to take this forward.

You should let us know as soon as you have successfully completed an application for a private loan.

As federal loans generally have more favourable terms and conditions than private loans, please ensure you check interest rates, compare terms and conditions and thoroughly investigated the possibility of taking out federal loan(s) before applying for a private loan.

The main difference between private loans and federal loans are that private loans are provided by credit unions, banks and other financial institutions. The application process and eligibility criteria may be different for each loan.  For a comparison of federal loans vs private loans follow this link to earnest.com, Salliemae.com and the Federal Student Aid website.

The University of Lincoln’s school code is G36844 / 036844.

Sallie Mae Loans

You can apply directly at Sallie Mae Student Loans

You can also apply for a private loan with Sallie Mae via GEMS (Global Education Management Services) at myglobaled.com, an organisation dedicated to handling private loans for students at foreign schools. Undergraduates can visit this Sallie Mae page.

Sallie Mae is an organisation experienced in lending to and dealing with US students studying outside the US.

Credit reports and risk scores obtained during the application process on all applicants and co-signers will be valid for 365 days. Students and families will be able to apply with Sallie Mae up to 300 days prior to the loan period start date. Please note that our offices will start processing these applications in June/July for the academic period starting in September/October.

Once your private loan has been certified, Sallie Mae should send you a letter of confirmation, which if required for ‘visa’ purposes should be sufficient proof that you have a private loan.

Earnest Loans

You can apply for a loan through Earnest via the following link:  Private Student Loans, Pick What You Pay | Earnest

You can also apply for a private loan with Sallie Mae via GEMS (Global Education Management Services) at myglobaled.com, an organisation dedicated to handling private loans for students at foreign schools.

Below are some features that Earnest Loans have:

• Very competitive rates
• 9-month grace period after graduation
• Easy-to-use mobile application
• 4 repayment options while attending school
• No fees

Exchange of loan funds from US$ to GBP£

Convera UK Financial Limited determines the exchange rate on the day they receive US$ loan funds drawn down from Sallie Mae or Earnest Loans. We’re only advised of the rate being used by Convera when we receive the emailed notification on the day they post US$ loan funds to the University’s £’s sterling bank account.

Funds released from Sallie Mae or Earnest are sent to the University via EFT payment via Convera UK Financial Limited. The funds are then applied to your tuition fees costs first. Any remaining funds will be paid to your personal UK bank account.

Click here to access the Scholarship search tool for students attending foreign schools.