This page will provide you with general information regarding US and Canadian applications.
When your loan payment will be available
As soon as you arrive in the UK, we recommend that you open a UK bank account. UKCISA (UK Council for International Student Affairs) has information on how to open a bank account in the UK on their website.
Once you have opened your bank account, please provide us with your account details – bank, address, account number and sort-code. This means that when your first instalment of loan is ready we can pay you straight away.
If you don’t set up a UK bank account in time, your loan will be paid to you by GBP check. This will take longer to clear than a direct bank payment so you should budget your living costs accordingly.
If you did not get your completed application pack to us before 1st September, your loans may not be available until the end of October.
If your loan disbursement is not enough to cover one third of your tuition and one third of your UL hall fee (if applicable), then there may not be a payment made to you.
How much money you will get and in which currency
You will only get one third of your loans each term and there are deductions taken from that value.
The US Department of Education charge an origination fee on all loans and this is deducted from each disbursement. The value of the fees and the disbursements are shown in the Cost of Attendance spreadsheet. For more detailed information, see the US Department of Education’s Student Aid website.
The money is transferred to the UK and converted into £sterling. The school is not allowed to charge any fee or receive any commission for processing your loan, so the money received for you is exactly what the school received in £sterling.
The University of Lincoln will deduct one third of the tuition fee and one third of any UL hall fees (if applicable), as known at the time.
If the value of your disbursement does not cover all the deductions, you will not receive a payment. If you have only applied for Sub/Unsub loans, it is unlikely that you will receive a payment but will have to pay the shortfall in tuition and halls yourself.
You will receive each disbursement at the beginning of each term. The dates are in the letter sent to you by the Student Funding Team for your visa.
All disbursements are subject to the following conditions
- You are making satisfactory academic progress
- You are enrolled at least part time
- You are not in USA
- You have not violated any federal compliance regulations (repayment default, fraud, drugs)
You will be advised by email that a disbursement is due. When you receive this email, you may contact us to reduce or cancel the disbursement.
WARNING – if you don’t warn us in advance not to draw down your disbursement, then you will be responsible for all interest charges and for its repayment.
1098-T Tax Form
University of Lincoln’s Employer Identification Number (EIN) is 98-1493098.
Unfortunately as a Foreign Institute, the University of Lincoln is not able to complete the 1098-T Tax Form. However, students can request confirmation of any fees paid by requesting a Statement of Account from the Finance Office.
They can be contacted by emailing email@example.com.
If you have a deferment form for any previous loans which need repayment deferment please bring your form to us in the Student Support Centre after enrolment, and we will complete the relevant school elements for you.
Refund & Return to Title IV Funds Policy
See link below for the full Policy.
All Federal Student Aid funded students will be asked to complete exit counselling when their term 3 disbursement is ready to be made.