Students Loans for U.S. students starting or continuing their studies in September 2017 (Academic Year 2017/18) will be processed from June 2017 onwards.
The London Film School is eligible to participate in the William D. Ford Direct Student Loan Program authorised by US Education Department The documents below set out recent changes in the system and guides through the application process.
The US government requires institutions which offer federal student loans to disclose information about financial aid, completion and retention rates, the campus, etc. The London Film School has made the Consumer Information available on a separate page which can be found here: US Federal Student Aid: Consumer Information
Policies relevant to US Federal Loans can be found below:
- You must read the instructions thoroughly on the process flow chart, if you miss a step this may cost you time and money. If you do not send the exact information your application will be rejected
- Eligible US students wishing to borrow loans can now start the loans process by downloading the process flowchart and Cost of attendance spreadsheet below.
Changes for the new Academic Year 2016/17
The origination fee for Direct Lending both unsubsidised and PLUS ( post grads are no longer eligible for subsidised) have increased. The new Cost of Attendance form reflects the new fees. If you have previously used an old COA form please make sure you are using the latest version.
You may borrow up to the Cost of Attendance and no more. The Cost of Attendance spreadsheet is set by the school but may be adjusted by the student to reflect their specific unusual needs on the spreadsheet and keeping within reasonable parameters. The spreadsheet will give warnings if too much loan is requested. Two types of loans are available to you, private loans and government loans.
The loans available are:
|Subsidised||No longer available to postgraduates|
|Unsubsidised||$20,500 max, Interest charged while in school||Origination Fee deducted at Disbursement|
|PLUS Loan||Max value set by School (Cost of Attendance)||Origination Fee deducted at Disbursement|
Eligibility for loans:
- LFS Degree Students may borrow up to your Cost of Attendance
Ineligible courses - your whole course is not eligible for loans if the course includes any of: distance learning, less than half-time continuous study on campus, any time spent in USA other than for school vacations
Federal (Stafford) Direct Lending
'There is an entitlement to Unsubsidised loans which have fixed limits for postgraduate students. These may be topped up to the full cost of attendance with a PLUS loan which is not an entitlement, but is subject to credit checking and may be declined by the Ed Dept.
The Loan Limits are:
Plus Loan Balance up to Cost of Attendance
The US Education Department 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 Education Department's Student Aid Website
How much can you borrow – Cost of Attendance:
Our Cost of Attendance Spreadsheet has all this information built in as you complete the form. To see the full details for all programmes and years, please look at the Student Aid website
How to Apply:
Most of the work is done on-line by the student. The school will not know you are making a genuine application, nor know how much you wish to borrow until you send us the information we need.
You must download the Loan Flow Chart Procedure.pdf and the COA 2016_17.xls Spreadsheet (Make sure you Enable Editing in Excel when you start editing the COA 2016_17.xls file).
Follow the instructions in the flowchart and complete the spreadsheet Cost of Attendance page and the Checklist page. Then send email to the U.S. Federal Loans Team at email@example.com with all the documents attached and the subject 'US Federal Loan Application'. Alternatively, you may use the form at the bottom of this page to attach all documents and send to firstname.lastname@example.org.
Please note our School Code: G10574
Please note that you are required to use the spreadsheet and checklist. If any documents are incomplete or missing, we will not be able to process your loan application.
IF YOU FORGET TO EMAIL YOUR PROMISSORY NOTE. WE WILL NOT BE ABLE TO CERTIFY YOUR LOAN
Where to Next: