Federal Loans and the UK

Within 2 business days of submitted my FAFSA I had my Student Aid Report (SAR) back from the Department of Education. Talk about fast! That excited me. What I learned was that the report really doesn’t tell me anything. It tells the school the information they need.

I guess I kind of was aware of that, that the information goes to the school (this is why you put the school’s information on it) and they determine, based on your expected family contribution (EFC) and the cost of attending the school, how much they award you. “Award” is an interesting term considering you pay it back with interest. Anyway, so then I got concerned about whether UWE takes the FAFSA and what is different about how it works. It was in the FAFSA system, but then found out that some schools are in the system so they will let you defer your previous loans, not that you are eligible to get loans…that freaked me out to say the least. And that webpage with the chart of which schools were which, was down all day.

I was chatting with FAFSA people and they determined that I was eligible for loans and to contact my school for further information on how to proceed. So, I did. Took a few days to get a response, but I think it was because they had to transfer the email. This nice woman emailed me with the instructions on how to handle the Direct Loan process. I believe this is what it’s called when it comes from the government? It was more than helpful. Though, I had a few other questions for her and she promptly answered them. I’ll wait a little bit before my next attack of questions. I have time.

So, I am eligible for subsidized and unsubsidized loans from the US. I just hope that based on the EFC and cost of attendance, that I am awarded all of it. I also found out that they do take into account the cost of housing for 1 person which helps a lot! So, if I get awarded all that’s possible, it will cover the tuition and part of the amount needed for the visa! I would be 2/3 the way there…so this is good. It’s just another waiting game. I will get my award letter at the end of May. Then, I would apply for another loan to cover the amount needed for the visa (which we plan to pay while we are over there). And that’s it for the money.

Posted in UK

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