How much money you will get and in which currency

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 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.

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.