US Government Loans

US Financial Aid

As a US citizen studying at the University of Adelaide you are eligible to apply for a Federal loan.

Generally students studying a degree program (Bachelors degree, Graduate Diploma, Masters, PhD) are eligible to apply for loans under the Federal Family Education Loan Program (FFELP).

Under this program students can apply for Federal Stafford loans (subsidized and unsubsidized) as well as Federal Plus loans.

Benefits

Eligible students are able to borrow from a US bank or lender some or all of the costs of their attendance at the University of Adelaide using the loan options offered under FFELP. The US Government guarantees these loans and generally the interest rates charged are lower than other commercially available loans. In addition some components of these loans may be subsidised by the US government and the interest that is charged on subsidised components are paid for you whilst you remain in study greater than half time.

Students are also not required to commence repayments until after they have completed their studies or their enrolment load reduces to less than half time.

Loan Amounts

The amount you can borrow is determined based on a number of factors including:

• whether you are a dependent or independent student
• what level or year you are studying
• whether you have previous outstanding Federal loans
• the cost of attendance.
• recent income (as assessed during the loan application process).

Below are the maximum limits of Federal Stafford Loans effective 1 July 2008 (loans amounts are quoted in United States Dollars [USD]).

*Subsidized: US government pays interest while student is in university and six months after graduation/withdrawal.

Delivery of Teaching

From 1 July 2006 students in receipt of Federal Loans may no longer enrol in courses that contain any online component. Enrolment in a course that contains online delivery as the only method of delivery will make you ineligible for Federal Loans for the remainder of your program. Homework and assignment submission is not considered an online component for this purpose.

Satisfactory Academic Progress

Students in receipt of Federal loans must maintain minimum standard to retain eligibility for further loans. Standards are applied to both academic standing and the timeframe to complete the program. Failure to maintain these standards could result in the suspension of your financial aid.

1. Academic Standing
   All students receiving US Federal Aid must satisfy the University’s academic progress rules to be eligible for funding.
2. Maximum Timeframe
   An undergraduate student is entitled to receive aid for 150% of the allocated course time frame, e.g. a student studying a 3 year degree program can be eligible for aid for 4.5 years.

Further Information

Download a PDF of the full University of Adelaide Financial Aid document for further information on this subject, including:

• the application process
• dependent and Independent students
• subsidized and Unsubsidized loans
• satisfactory Academic Progress (in detail)
• loan disbursements
• loan terminology.