Queen Mary University of London administers US Federal loans and private study loans for eligible students, see below if you are eligible and how much you could receive.
The Bursaries, Grants and Scholarships Office administers US federal loans and private study loans to eligible Queen Mary University of London students, our federal school code is G06697. Throughout your application process with the Department of Education you will be told that Queen Mary has been automatically notified of things, we will NOT. Please ensure that you carefully follow the instructions given to ensure that your loans are originated correctly.
Below is all the information you will need in order to apply for your funding, please ensure you read everything on our website before contacting us.
The majority of our undergraduate and graduate courses are eligible for Federal funding however there are exceptions, please see the list of ineligible courses below.
This list is not exhaustive and subject to regulation change.
If you are ineligible for the Direct Loan Programme then you may still be eligible for a private education loan from Sallie Mae or Earnest Loans
Subsidised
Unsubsidised
Parent PLUS
Graduate PLUS
Private Loans
It may be possible for US students studying abroad to obtain private education loans, currently the loans available are Sallie Mae Education Loans and Earnest Loans
Veterans Affairs (GI Bill)
We are currently unable to accept students wishing to pay for their studies using VA Funding as we are in the process of removing ourselves from the programme. We apologise for any inconvenience caused.
Step 1 is to submit a FAFSA - this is done at studentaid.gov
Throughout your application process with the Department of Education you will be told that Queen Mary has been automatically notified of things, we will NOT.
Step 2 is to send an email to bursaries@qmul.ac.uk to tell us you wish to request US Federal Aid or Private Loans, including your FAFSA Submission Summary or Social Security Number so that we can find your FAFSA submission.
Step 3 we will email you information on how much US Federal Aid you can request and a US Loan Request Form that you must complete and return.
Things to think about -
Step 4 complete your necessary applications and return the Loan Request Form.
Step 5 once QMUL has received your loan request and confirmation of your completed documents, we will assess your eligibility against certain criteria.
Things we will look at include the following, this list is not exhaustive and subject to individual circumstances:
We are often asked by the US Government to do checks on citizenship, if this is necessary there is a flag on your FAFSA report, and we will contact you for further documentation.
If changes are needed to your loan provision then we will contact you.
Step 6 we will originate loans
Once your loan has been originated we will:
Students may borrow up to the value of their Cost of Attendance.
The figures given below are QMULs calculation of how much funding for Living Costs you may require. When you apply, the COA we will send you will include the specific Tuition Fees for your chosen course.
Postgraduate Students:
Cost of Attendance: $49,895 + Tuition Fees
Undergraduate Students:
Year One Cost of Attendance: $38,805 + Tuition Fees
Year Two+ Cost of Attendance: $35,928 + Tuition Fees
The US Department of Education set loan limits on the amount of subsidized and unsubsidized loans that you may be eligible to receive each academic year. These limits depend on factors such as your grade level, and whether you are classed as Independent or Dependent (determined by the information you report on your FAFSA).
Postgraduate and Professional Course Students Annual Loan Limits:
Level of study
Unsubsidized Loan
Graduate PLUS Loan
Taught Masters (52 week)
$20,500
You can top up to your full COA using a Graduate PLUS loan
Research (52 week)
Dependent Undergraduate Students Annual Loan Limits:
Subsidized Loan
Parent PLUS Loans
1st year Undergraduate (39 week)
$3500
$2000
You can top up to your full COA using a Parent PLUS loan
2nd year Undergraduate (39 week)
$4500
3rd year Undergraduate (39 week)
$5500
Independent Undergraduate Students Annual Loan Limits:
$6000
You are ineligible for a PLUS loan but could top up to your full COA using a Private Loan
$7000
The yearly costs have been carefully calculated to give a good quality of life whilst studying in London, but not to be excessive. As such we will only consider increasing these costs in line with Professional Judgement advice from the US Department of Education and would usually include Dependent (Child) Care or Disability-related costs, please contact us to discuss this.
The Cost of Attendance includes the following items:
Living Costs (Housing and Food) - weekly rents in London vary greatly, you may live in QMUL Campus Accommodation and have no travel requirements or bills on top of your rent, or you may choose to live in alternative accommodation, which may mean travel or bills on top of your rent. Also included are grocery costs and a personal allowance which we have based on NASMA guidance.
Tuition Fees and course costs - your tuition fee and an allowance for the costs associated with your course, eg. books, are included in your Cost of Attendance.
Set up costs - if you need to purchase a computer, pay Visa and Immigration Health Surcharge costs these are included.
Flights - The average cost of two flights between London and the US have been included.
Loan costs - The US Government charges disbursement fees to each loan disbursement, these are included in your Cost of Attendance.
You do not need to take out the maximum loan, if you wish to borrow less just enter a lower amount on your loan request. Details of how and when you can increase or decrease your loan can be found in the FAQs below.
You may find it useful to use the US Federal Aid Loan Simulator when considering how much funding to request.
The exchange rate is set at 1.39 for the 2024/25 Cost of Attendance. This is calculated using currency data over a 90 day period from OANDA, with 10% added to account for possible fluctuations.
Private Educational Loans - currently the loans available are Sallie Mae Education Loans and Earnest Loans - can make up any part of your Cost of Attendance, but will reduce your eligibility for other available loans.
Our Admissions team will issue your CAS - full details of the process by the Admissions team is here
The confirmation is your loan certificate which you may need to provide to the UK Visa and Immigration with your visa application. For the purpose of proving to UKVI that you have these loans in place you can only use this loan certificate.
Further information about applying for a UK Visa be found on the Queen Mary Website
If your loan is to cover the full cost of your fees then you do not need to make any payment directly to us. In order to complete your enrolment you will need to complete a tuition fee payment agreement - full details of this can be found here. You will not be charged the £50 fee for this if your loan covers the full value of the fees - this should be done at enrolment for new students and before re-enrolment for returning students.
US Department of Education loans originated by Queen Mary will be disbursed in equal instalments during each semester.
Undergraduate - September 2024 start:
Postgraduate - September 2024 start:
These are the dates we will request the money from the US Department of Education, the first payment date is dependent upon you completing full enrolment for the 2024/25 academic year. Please ensure that you have sufficient funds to cover the period between your arrival at University and your first payment. While we try to get the payment of your maintenance element to you as quickly as possible please ensure you factor in the time it takes to transfer money internationally each term.
We use Convera to pay the money directly into your bank account - it is best to open a UK account as soon as you enrol, but you can choose to use a US account if you wish. Please note, students receiving USD will receive the surplus GBP amount converted back to USD at live interbank rates.
If you do not provide your account details then you will be issued with a USD draft. Details on how to open a UK bank account can be found here.
Disbursements will be made in £GBP, the exact amount will vary as it is dependent on the exchange rate at the time of disbursement.
Each disbursement is subject to the following conditions:
Please note - if you do not warn us of a required change by the deadline given in the email then you will be responsible for all interest charges and the repayments
*Satisfactory Academic Progress policy can be found here - SAP Policy
Private loans (Sallie Mae/Earnest)
Private loans are released in one disbursement, this will be released once you have been approved for a loan and are fully enrolled.
Sallie Mae payments will be made in the same way as Federal Aid. We use Convera to pay the money directly into your bank account - it is best to open a UK account as soon as you enrol, but if you do not provide your account details then you will be issued with a UK Sterling cheque. Details on how to open a UK bank account can be found . Disbursements will be made in £GBP, the exact amount will vary as it is dependent on the exchange rate at the time of disbursement.
Earnest issues their payments to foreign schools by cheque, this is co-payable which means you must endorse the cheque to allow us to cash it. If you are local to the University you can do this in person, you will be notified when this is available. If you are not local the cheque will be sent to you via registered mail and you will be required to sign and return the cheque to us. Once your cheque has been endorsed we will send this to our bank for encashment, this can take time as it is a US Dollar cheque however we will monitor this and update your MySIS Finance portal as soon as the funds have been released.
If you have both Federal and Private Loans you will be subject to both payment methods. This means if you have a Sallie Mae loan and a Federal Loan you will get numerous emails from Convera and will have to enter your Bank Account information twice.
As US students can use loans from their government to fund their studies at Queen Mary, the US government requires us to disclose the consumer information listed below.
Financial aidInformation regarding needs based and non-needs based funding available to Queen Mary students can be found on the following pages
Undergraduate - https://www.qmul.ac.uk/undergraduate/feesandfunding/bursaries/
Postgraduate - https://www.qmul.ac.uk/postgraduate/taught/funding_masters/
Research - https://www.qmul.ac.uk/postgraduate/research/funding_phd/
Queen Mary Financial Assistance Fund information can be found here - http://www.arcs.qmul.ac.uk/students/finances/bursaries-grants-scholarships/financial-assistance-fund/
Our Advice & Counselling Service have produced guidance on budgeting and managing money (https://www.welfare.qmul.ac.uk/money/planning-budget-and-managing-money), this includes information about what you need to budget for.
Facilities and services available to students with disabilitiesStudents should be aware of disability support (http://www.dds.qmul.ac.uk/) and that any related costs can be included in the Cost of Attendance when applying for Federal or private loans.
Academic program informationInformation about current academic programmes is available in our undergraduate and postgraduate prospectuses, as well as on our departmental web pages, where you will also find contact details of faculty and departmental staff. Please be aware that the structure of our programmes may be quite different from what you're used to in your own country and therefore it is advisable to consult the relevant academic department about their programmes.
UG - http://www.qmul.ac.uk/undergraduate/index.htmlPG - https://www.qmul.ac.uk/postgraduate/index.htmlResearch - http://www.qmul.ac.uk/research/index.html
Transfer of credits - information regarding APEL can be found in our Academic Regulations -https://arcs.qmul.ac.uk/media/arcs/policyzone/academic/Academic-Regulations-2022-23.pdf
Articulation agreements - http://www.qmul.ac.uk/international/partnerships/articulationpartners/index.html
Leave of Absence (LOA) Policy
Leave of Absence Policy
Admissions policyQueen Mary's admissions policy for all levels of study can be found here - https://arcs.qmul.ac.uk/media/arcs/docs/admissions-policy-documents/Admissions-Policy-2022-23.pdf
Telecommunications and Distance Learning Courses
Telecommunications and Distance Learning Courses are ineligible for Title IV funding at Queen Mary.
Textbook informationInformation about any required and recommended textbooks for your course will be provided to you by your department. Should you require specific information about textbook, please contact the relevant academic department for advice. You are not required to buy books from a specific book shop.Copyright infringement policies and sanctionsQueen Mary's Policy on Intellectual Property (http://www.arcs.qmul.ac.uk/media/arcs/policyzone/IP_Policy_Final_Senate_March2015.pdf) covers information on copyright infringement policies and sanctions.
School and program accreditation, approval or licensureIn the UK, the power to award degrees is regulated by law and the Privy Council is responsible for the granting of degree awarding powers and university titles. Please see our Royal Charter - http://www.arcs.qmul.ac.uk/governance/council/charter/
Drug and alcohol abuseThe College has a duty to ensure that we comply with the legislation contained in the Misuse of Drugs Act 1971 of the UK. Policies and penalties associated with drug-related offences can be found in Queen Mary's Policy regarding the misuse of alcohol and other drugs: Misuse of alcohol and other drugs by staff and students policy [PDF 22KB]
The USDE provides information on the penalties associated with drug-related offences under the US Higher Education Act (http://www2.ed.gov/policy/highered/leg/hea98/sec483.html) Should you lose eligibility for US Federal Loan as a result of these penalties, we will provide you with a written notice which notifies you of your loss of eligibility and advises you of ways in which to regain eligibility.
Vaccinations policyFor all information relating to health and vaccinations see Health Services (https://www.studenthealth.qmul.ac.uk/)
Completion/graduation and transfer-out rates for students receiving athletically related student aidQueen Mary does not offer any athletics related aid or scholarships.
Placement in employmentPlease see this information here https://www.hesa.ac.uk/news/05-07-2018/employment-of-leavers-tables
Intercollegiate athletic programme participation rates and financial support dataQueen Mary does not have an 'intercollegiate athletic programme' as defined by the US Department of Education.
Security reportOur Security (https://www.qmul.ac.uk/security/campus-security/) have a lot of information on how to stay safe on and off campus, please do read our Personal Safety Guide (https://www.qmul.ac.uk/security/media/securityintranet/documents/19882.pdf) as it gives detailed guidance on how to ensure that you and your property are kept safe.
Privacy of student recordsYour rights under the Data Protection Act 1998 are outlined on Queen Mary's Data Protection Policy (http://www.arcs.qmul.ac.uk/media/arcs/policyzone/Data-Protection-Policy-v03.0.pdf)
Should you have a complaint about the processing of your US loan, you have the right to file complaints with the US Department of Education, although it would be preferable that you contact us first so that we can try to resolve the problem for you.
Default Management Plan
The default management plan contains some of the strategies used by Queen Mary University of London to help our students who are in receipt of Title IV Aid to understand the responsibility of borrowing loans to fund their degree studies. The purpose is to reduce the number of students who default on loan repayments Default Management Plan [PDF 668KB]
Micro Internships and SCP
Both of the above are offered as free, and do not earn credits toward a student's degree; they are extra curricular and supplemental.
Here you will find a list of Frequently asked question's - if the answer to your question is not here then please do contact us
Why am I not able to apply for grants?
As you have opted to study at an institution outside of the US you are not eligible for grants.
How and when does QMUL apply 'Professional Judgement'?
When a school signs up to the US Federal Loan Programme we agree to administer funds in the best interest of the US Department for Education (USDE). While some elements of the administration of the loan programme are controlled by regulation we are also expected to apply 'Professional Judgement' to protect US tax payers money. Professional judgement may be used to determine the levels of funding that you are eligible for, or to reject your application entirely. Under USDE regulation the outcome of professional judgement may only be appealed if you believe it has been applied outside of the following rules:
(i) The determination is made on a case-by-case basis;
(ii) The documentation supporting the determination is retained in the student's file; and
(iii) The school does not engage in any pattern or practice that results in a denial of a borrower's access to Direct Loans because of the borrower's race, gender, color, religion, national origin, age, disability status, or income.
Can I get the money allocated towards paying for visa fees and flights before arriving in the UK?
Unfortunately Queen Mary is not able to release any money until you have fully enrolled for the academic year.
Do I have to pay a tuition fee deposit? How will admissions know I have a loan to cover my fees?
If you have a loan arranged to cover the full value of your fees, you do not need to pay the tuition fee deposit. Once your loan has been approved we will notify Admissions. If you require a CAS, please contact cas-admissions@qmul.ac.uk once you have been notified of your loan. Your CAS will then be issued in the normal way.
Do I have to pay a deposit to QMUL Residences?
Yes, this is a refundable deposit and, as such, cannot be covered by the US Loan agreement.
Can the loan disbursement dates be bought forward at any time?
Queen Mary will not change the dates of disbursement as they have been set with the US Department of Education.
Can I decrease my loan amount between disbursements?
Yes, you will receive an email about a month before each disbursement confirming your loan details. It will give you a deadline to cancel all or part of your loan.
Can I increase my loan amount?
If you did not take out the full value of your Cost of Attendance (CoA) then you will be able to take out a further loan up to the value of your CoA. If you have taken out the full value of your CoA but have exceptional and unforeseen costs then we may be able to increase your loan if you can document these costs to us.
What happens to my loan if I interrupt, transfer or withdraw?
As an international student there are many implications should you interrupt, transfer or withdraw from your studies, such as considerations surrounding your visa. The regulations set by the US Department of Education clearly define what you will have to repay in the event of you no longer studying on the same programme and we would suggest you contact us directly to discuss this if this is something you are thinking of doing.
If the change to your programme means you are no longer eligible for funding we will complete a Return to Title IV assessment. This will tell us, and the USDE, what values, if any, will need to be returned to USDE and how this will be done. Our Return to Title IV (R2T4) policy can be found here - R2T4 Policy
I have been turned down for a PLUS loan, what can I do?
You can ask an endorser to co-sign on a loan for you or your parent. More information can be found here
When will I get confirmation of my loans?
Once you have completed and submitted all the required documentation we will issue your loan confirmation and inform admissions to waive your deposit, providing you are taking out loans to cover your entire fee.
Will I receive a 1098T Tax Form?
We do not complete any part of the 1098T tax form. However, we can issue a receipt for tuition fees paid which can be used as evidence of payment. Contact our Fees Department to request this.
If you have any further queries regarding the process of getting materials completed for your US Loan application, you may contact the Bursaries, Grants & Scholarships team in the first instance. They can be contacted via email at Bursaries@qmul.ac.uk.