RVC Website: | Home | Courses | Higher Degrees | Research | Clinical Services | RVC Enterprise | About Us | Contacts | Search |

Financial Aid for North American Students

Direct Loans

Direct Loans

The RVC is now taking part in the William Ford Direct Loans Program. This replaced the Federal Family Education Loan (FFEL) program, through which RVC students from the United States previously obtained loans, in June 2010..

Benefits of the Direct Loans program

Direct Loans and FFEL Program loans have the same annual and aggregate loan limits, the same deferment and cancellation provisions, and most of the same repayment plans (Standard, Graduated, Extended, Income-Based). The interest rates for FFEL Program Stafford Loans and Direct Subsidized Loans/Direct Unsubsidized Loans are also the same. Direct Loans also have some benefits that are available only in the Direct Loan Program:

  • Up-front interest rebate
  • Income Contingent Repayment Plan (in addition to the Income-Based Repayment Plan)
  • Public Service Loan Forgiveness Program
  • No interest charged (for up to 60 months) during qualifying periods of active duty military service (for loans first disbursed on or after October 1, 2008)

The Federal School Code for Royal Veterinary College London is G38243

On these pages you will find all the information you will need on Loans, cost of attendance, submitting your application for financial aid, receiving your disbursements, and getting ready for repayment.

How do direct loans work?

The way Direct Loans work can be summarised as follows.

  • You apply for financial aid via the FAFSA website
  • We assess your eligibility and originate the loan
  • We ask the U.S. Department of Education to disburse the funds to us
  • Our finance department keeps the amount due in tuition fees and gives you the rest
  • We tell the U.S. Department of Education when you leave RVC
  • The U.S. Department of Education passes your loan on to a bank which acts as servicer (i.e. ensures the loan is paid back)

Who is eligible to apply?

U.S Citizens and/or Green Card holders on the following courses can obtain Direct Loans:

Bachelor in Veterinary Medicine (5 Year Programme)

Accelerated Bachelor in Veterinary Medicine (4 Year Programme)

BSc Bioveterinary Science/Intercalated BSc Bioveterinary Science

MSc in Wild Animal Biology (Full-Time)

MSc in Wild Animal Health (Full-Time)

MSc Control of Infectious Diseases in Animals (Full-Time)

MSc Veterinary Epidemiology (Full-Time)

MSc Veterinary Microbiology (Full-time)

MSc Veterinary Pathology (Full-time)

Loan types & amounts

There are three types of loans available through the Direct Loan Program.

  • Direct Subsidised Loan
  • Direct Unsubsidised Loan
  • Direct Plus Loan

These three loans replace the Stafford Subsidised Loan, Stafford Unsubsidised Loan and GradPlus loan available via the FFELP program.

Subsidized Loans are where the US Government subsidizes interest that accrues on the loan while you are enrolled at least half-time at university. The amount given (subject to maximum rates) depends on the Expected Family Contribution (EFC) on your Student Aid Report (SAR).

Unsubsidized Loans are available to students who do not qualify for subsidized loans or to those that do but require additional funds. With an unsubsidized loan you are responsible for all the interest that accrues on the loan while you are enrolled at university. The interest on this loan can be paid monthly while you are at university or deferred until after you graduate or stop attending at least half-time.

PLUS Loans (see Graduate or Undergraduate section as appropriate).

Graduate Students

You are a graduate student if you are coming to the RVC after completing a bachelor degree.

You can borrow up to $20,500 annually in Direct Subsidised and Direct Unsubsidised combined. Up to $8,500 of that can be in Direct Subsidised, depending on your financial need.

The total amount of borrowing in subsidised and unsubsidised loans, including Direct Loans or FFEL Loans at previous institutions, cannot exceed $138,500 (of which $65,000 can be subsidised).

If the amount you need to borrow exceeds the maximum amount of Subsidised/Unsubsidised Loan, then there are additional loans available to meet your COA. You could consider the Direct PLUS Loan or a private study loan.

Direct Plus (for independent graduate students to cover up to the full cost of attendance minus any other aid or funding) - subject to credit rating and can be consolidated after graduation. Graduate PLUS loans begin repayment 30 days after graduation. Current interest rate for loans initiated after 1 July 2007 is 8.5% fixed.

Private (subject to credit rating and often requiring a co-signor - these are usually at commercial rates) - Private loans are not subject to multiple disbursements. Private loans can not be consolidated. Interest rates vary by lender. However, the terms of the loan will not be as good as those obtainable through the Direct Loan program.

Undergraduate Students

You are an undergraduate student if you are coming direct from High School.

The table below shows the current borrowing limits for Subsidised and Unsubsidised Loans for undergraduates.

Year

Dependent Undergraduate Student (except students whose parents are unable to obtain PLUS Loans)

Independent Undergraduate Student (and dependent students whose parents are unable to obtain PLUS Loans)

First Year

$5,500—No more than $3,500 of this amount may be in subsidized loans.

$9,500—No more than $3,500 of this amount may be in subsidized loans.

Second Year

$6,500—No more than $4,500 of this amount may be in subsidized loans.

$10,500—No more than $4,500 of this amount may be in subsidized loans.

Third and Beyond (each year)

$7,500—No more than $5,500 of this amount may be in subsidized loans.

$12,500—No more than $5,500 of this amount may be in subsidized loans.

Maximum Total Debt from Stafford Loans When You Graduate (aggregate loan limits)

$31,000—No more than $23,000 of this amount may be in subsidized loans.

$57,500—No more than $23,000 of this amount may be in subsidized loans.

Note: These annual loan limit amounts are the maximum yearly amounts you can borrow in both subsidized and unsubsidized loans. You can have one type of loan or a combination of both.

If the amount you need to borrow exceeds the maximum amount of Subsidised/Unsubsidised Loan, then there are additional loans available to meet your COA (Cost of Attendance). You could consider the Direct PLUS Loan or a private study loan.

Direct Plus Parents of dependent students may apply for a Direct PLUS Loan to help pay their child's education expenses as long as certain eligibility requirements are met. Such students cannot apply for PLUS Loans themselves (unlike Graduates).

Assess your Independent/Dependent Status by using the checklist found on the link above.

To be eligible for a Direct PLUS Loan for Parents:

  • The parent borrower must be the student's biological or adoptive parent. In some cases, the student's stepparent may be eligible.
  • The student must be a dependent student who is enrolled at least half-time at a school that participates in the Direct Loan Programsm. Generally, a student is considered dependent if he or she is under 24 years of age, has no dependents, and is not married, a veteran, a graduate or professional degree student, or a ward of the court.
  • The parent borrower must not have an adverse credit history (a credit check will be done). If the parent does not pass the credit check, the parent may still receive a loan if someone (such as a relative or friend who is able to pass the credit check) agrees to endorse the loan. The endorser promises to repay the loan if the parent fails to do so. The parent may also still receive a loan if he or she can demonstrate extenuating circumstances.
  • The student and parent must be U.S. citizens or eligible noncitizens, must not be in default on any federal education loans or owe an overpayment on a federal education grant, and must meet other general eligibility requirements for the federal student aid programs. For additional information on eligibility requirements, go to the student aid eligibility page.

Private Loans

There are a number of private study loans available for US students to meet the tuition and living cost of attending College. Some of these are:

Private educational loans come in a single disbursement in September/October.

Cost of Attendance Analysis

The question we are asked most is “how much do I need to borrow?” and it is impossible for us to answer. Costs vary from student to student depending on the standard of their accommodation, whether they have dependents or a partner in the UK, the amount travel home in the holidays will cost, etc.

Analysis Of Loan Debt Incurred By US BVetMed Students Graduating July 2009 (completing in five years)

  2004/5 Total ($) 2005/6 Total ($) 2006/7 Total ($) 2007/8 Total ($) 2008/9 Total ($) Grand Total ($)
Total loans (seven students) 300,000.00 111,000.00 169,564.00 316,099.00 360,448.00 1,294,111.00
Average (mean) Loans 42,857.14 21,142.86 24,223.43 45,157.00 51,492.57 184,873.00

The 2005/6 and 2006/7 sessions are Stafford Loan debts only, private loans were not recorded.

Borrowing Limits

You should remember that the amount you can borrow will also be affected by the College's Cost of Attendance (COA).

The cost of attendance (COA) is the maximum amount you may need to borrow to cover tuition fees, study related costs and living costs for the academic year.

Most students borrow less. You can apply for additional funds (without exceeding the COA) later in the year if you need them. You can also cancel a disbursement if you do not need the money.

  Tuition Fees 2011/2 Cost of Attendance 2011/2 (inc. Tuition Fees) Max. Direct Subsidised and Direct Unsubsidised Amount Max GradPlus and/or Private Loan (if maximum Stafford loan is taken)
BVetMed Year 1 *£19,800 $80,541 $20,500 $60,041
BVetMed Year 2 *£19,800 $79,551 $20,500 $59,051
BVetMed Year 3 $35, 510 $79,001 $20,500 $58,501
BVetMed Year 4 $34,670 $78,487 $20,500 $57,987
BVetMed Year 5 $34,180 $78,518 $20,500 $58,018
Accelerated BVetMed Year 1 *£19,800 $78,033 $20,500 $56,373
Intercalated BSc Biovet Sci £8,880 $62,625 $20,500 $42,125
MSc WAB/WAH/Vet Epi £19,440 $78,033 $20,500 $56,373

*Please Note: Due to a change in RVC policy new entrants from 2010/11 onwards will be charged tuition fees in UK pounds, while continuing students will continue to pay in US dollars.

The cost of attendance was calculated based on a rate of $1.55 to £1. The Finance department will determine the rate to be applied for 2011/2 in September.

For a breakdown of how the 2010/1 COA was calculated download this file:

Cost of Attendance for US Loans 2010-11

Origination fees

All Direct Loan types are subject to an origination fee.

For Subsidised and Unsubsidised loans a 0.5% origination fee is charged by the U.S. Department of Education. So, for example, if you borrow the maximum $20,500 in Direct Subsidised/Unsubsidised Loans you will receive $20,398.

For Direct Plus Loans a 2.5% origination fee is charged by the U.S. Department of Education.

If you are borrowing enough to cover the cost of your tuition fees only, make sure you take the origination fees into account. This catches someone out every year!

How to Apply – the steps

Preparation

As part of the process you will need to provide us with a number of documents. It will speed the processing of your application if you can email them to us as pdf files. If you haven’t got software which will do this please read our FAQ which has details on obtaining free easy to use software. If you cannot supply them electronically, you will need to send printouts, so access to a printer is required.

When to apply

Applications will not be processed before June for the following academic session. You can apply at any time after that. We recommend that new students commence the application process by July to ensure your loan award is confirmed in time for your visa application. Continuing students should apply by August. We will prioritise the processing of applications for new students.

Step 1a - Applying for FAFSA

In order to receive a Direct Loan of any kind, you must complete a FAFSA application online to generate a student Aid Report.

Complete the FAFSA online at www.fafsa.ed.gov. The entered data will be processed into your Student Aid Report within 48 hours. After that you can return to FAFSA Online and print your Student Aid Report (SAR).

>Step 1b – Submitting the SAR to RVC

RVC requires students to submit a full SAR (see the FAQ for more information). We prefer it if you email it to us in electronic format as a pdf file. Our email address is FinancialAidOffice@rvc.ac.uk

Alternatively, send the full SAR to:

Financial Aid

Student Records & Finance (Room G30b)

Academic Registry

Royal Veterinary College

Royal College Street

London

NW1 OTU

Step 2 - Direct Loan Entrance Counselling. This is a “MUST” for all new students applying for Direct Loans and RECOMMENDED for continuing students

The US Department of Education regulations require all Direct Loan borrowers to receive entrance counselling. You must do this online at the www.studentloans.gov website. Entrance Counselling is in the “Manage My Direct Loan” section.

Direct Loan entrance counselling takes 30 – 45 minutes to complete.

When you have completed entrance counselling you will be given the option to print confirmation. We need to know you have done it so either print this off and mail it to us or, preferably, email it to us in electronic format as a pdf file. Our email address is FinancialAidOffice@rvc.ac.uk.

Alternatively, send the confirmation to:

Financial Aid

Student Records & Finance (Room G30b)

Academic Registry

Royal Veterinary College

Royal College Street

London

NW1 OUT

If you are a continuing student you do not have to send us proof you have done entrance counselling (unless this is your first loan application at RVC).

Step 3 – Agreeing to the Terms of the Loan – Completing MPN

Once you have completed your entrance counselling, the next step is to sign a Master Promissory Note (MPN). The MPN is a contract that you sign when you receive a Direct Loan. The note includes important information about your rights and responsibilities as a borrower.

Please note you must sign an MPN for the Subsidised/Unsubsidised Loan and another for the Plus Loan. A new MPN is required each academic year for the Subsidised/Unsubsidised Direct loan, and another for the Direct Plus loan.

You can sign a MPN at www.studentloans.gov by clicking the link in the “Manage My Direct Loan” section.

You will be given an opportunity to print a copy of your MPN. We need to know you have signed it so either print this off and mail it to us or, preferably, email it to us in electronic format as a pdf file. Our email address is FinancialAidOffice@rvc.ac.uk.

Alternatively, send the confirmation to:

Financial Aid

Student Records & Finance (Room G30b)

Academic Registry

Royal Veterinary College

Royal College Street

London

NW1 OTU

Step 4 – Complete the Direct Plus Loan Request

There is an additional step you have to complete online for Direct Plus loans. Go to www.studentloans.gov by clicking the link “Complete Plus Request Process ” in the “Manage My Direct Loan” section.

Step 5 – Submit Loan Request Form

Complete the Request for Direct Loans form sign it and submit it to us. This tells us how much you want to borrow. You can email it to us as a scanned pdf or jpg file Our email address is FinancialAidOffice@rvc.ac.uk.

Please note we cannot originate the loan until we receive a signed copy. If you can't scan it, send it to:

Financial Aid

Student Records & Finance (Room G30b)

Academic Registry

Royal Veterinary College

Royal College Street

London

NW1 OTU

You should send your loan application as soon as possible to allow time to process it and have your funds ready for collection once you have enrolled.

Documents required in order to certify a Stafford Loan are:-

1. Full SAR

2. Entrance Counselling

3. MPN

4. Request for Direct Loans form

Processing your application

Pre-requisites for processing:

Please note that we cannot process applications for new students until their place has been confirmed and the non-refundable deposit has been paid.

Please note that we do not process applications for continuing students until their exam results are known, as you must demonstrate satisfactory academic progress.

Confirmation of loan: New students

We will notify you by email when you have completed the application process and we have posted your Award Letter. The Award Letter provides new students with the required proof that you have funds to support your study and is required when applying for a visa. You must supply the original, stamped and signed by a member of the Financial Aid Office. An electronic copy will not be accepted. The letters are sent by Royal Mail Airsure which takes about a week. The email will give you a tracking number.

Confirmation of loan: Continuing students

When you have completed the application process we will email the award letter to you.

Important - Your loan is your responsibility

Please note it is your responsibility to complete the necessary steps to complete the application process. It is common for students to send the various documents over a period of weeks or months. Sometimes students change their mind and do not complete the process. Consequently, we will not chase you for missing documents. If, however, you ask we will confirm what we have received and what is outstanding.

Disbursement

Enrolment and Disbursement:

You must be enrolled to receive any disbursements. Continuing students are able to complete enrolment online using the Registry web portal Rover. New students complete pre-enrolment online using the Registry web portal Rover, but must attend an enrolment session and provide ID to complete enrolment.

There is an international student enrolment session for new students before the main enrolment session in induction week.

Method of Disbursement:

The disbursements will be made to the college by electronic transfer. Within three days of receiving the funds the college is required to allocate the amount to cover tuition fees onto your account on the Finance Department accounts database. Within 14 days the remainder must be passed on to the student. We make the payments to students as soon as possible after the receipt of funds, but cannot guarantee early payment or estimate when they may be made. Ensure you budget to receive the funds on the dates given below.

Most disbursements will be made by electronic transfer. To arrange this, complete the Direct Loan Payment Form and send it to Sanjay Raikundalia in Finance.

All disbursements will be made in pounds stirling. It is not possible to make the disbursement in U.S. dollars.

New Graduate Students First Disbursement

Please note the first disbursement to new graduate students will be by cheque. Therefore, you will not have immediate access to your loan funds when you arrive in the UK - you will need to prepare for this by bringing sufficient money with you to cover your first 3-4 weeks expenses of living in London.

New Undergraduate Students First Disbursement

Please note the first disbursement to new undergraduate students will be by cheque, and we cannot request the disbursement until 30 days after the start of the course. Therefore, you will not have immediate access to your loan funds when you arrive in the UK - you will need to prepare for this by bringing sufficient money with you to cover your expenses until Mid November.

Disbursement Notices:

The disbursement notice tells you exactly when a loan will be disbursed and how much each disbursement will be for. We will be sending these out to prior to each disbursement. Under the FFELP program these were sent directly to students by the loan company.

Disbursement Dates for 11/12:

Course Code

Year

Start of Loan Period

End of Loan Period

Disbursement

Pay Student

BVetMed (Graduate Entrants)

1

26-Sep-11

06-Jul-12

First Disbursement

14-Oct-11
BVetMed (High School Leavers) 1 26-Sep-11 06-Jul-12 First Disbursement 14-Nov-11

BVetMed

1

26-Sep-11

06-Jul-12

Second Disbursement

23-Jan-12

BVetMed

1

26-Sep-11

06-Jul-12

Third Disbursement

19-Apr-12

BVetMed

2

03-Oct-11

06-Jul-12

First Disbursement

14-Oct-11

BVetMed

2

03-Oct-11

06-Jul-12

Second Disbursement

23-Jan-12

BVetMed

2

03-Oct-11

06-Jul-12

Third Disbursement

19-Apr-12

BVetMed

3

19-Sep-11

24-Aug-12

First Disbursement

7-Oct-11

BVetMed

3

19-Sep-11

24-Aug-12

Second Disbursement

16-Mar-12

BVetMed

4

19-Sep-11

26-Aug-12

First Disbursement

7-Oct-11

BVetMed

4

19-Sep-11

24-Aug-12

Second Disbursement

16-Mar-12

BVetMed

5

19-Sep-11

29-Jun-11

First Disbursement

7-Oct-11

BVetMed

5

19-Sep-11

01-Jul-11

Second Disbursement

13-Feb-12

MSc WAB

1

27-Sep-11

28-Sep-12

First Disbursement

17-Oct-11

MSc WAB

1

27-Sep-11

28-Sep-12

Second Disbursement

23-Jan-12

MSc WAB

1

27-Sep-11

28-Sep-12

Third Disbursement

09-May-11

MSc WAH

1

27-Sep-11

28-Sep-12

First Disbursement

17-Oct-11

MSc WAH

1

27-Sep-11

28-Sep-12

Second Disbursement

23-Jan-12

MSc WAH

1

27-Sep-11

28-Sep-12

Third Disbursement

19-Apr-12

Accelerated BVetMed

1

26-Sep-11

06-Jul-12

First Disbursement

14-Oct-11

Accelerated BVetMed

1

26-Sep-11

06-Jul-12

Second Disbursement

23-Jan-12

Accelerated BVetMed

1

26-Sep-11

06-Jul-12

Third Disbursement

19-Apr-12

Important Note: First year students on the five year BVetMed will have different dates for their first disbursement, depending on whether they are high school leavers or graduates.

 

Secondary disbursements will only be released upon Satisfactory Academic Progress (see below)

RVC Satisfactory Academic Progress (SAP) Policy Statement

Federal funds are only available to students that maintain satisfactory academic progress. Read the college's full SAP policy

Tuition fee collection

We will take tuition fees from each disbursement made of your loan, and pay you the remainder of the disbursement. The amounts taken for tuition fees will be as follows.

Tuition Fee Collection 2011/12

Tuition Fees 2011/12

Amount in USD$

Amount taken from First Disbursement

Amount taken from Second Disbursement

Amount taken from Third Disbursement

BVetMed Year 1 *

£19,800

(inc £1,000 deposit)

$31,680

(inc $1,600 deposit)

$10,027

$10,027

$10,026

BVetMed Year 2 *

£19,800

$31,680

$10,560

$10,560

$10,560

Accelerated BVetMed Year 1 *

£19,800

(inc £1,000 deposit)

$31,680

(inc $1,600 deposit)

$10,027

$10,027

$10,026

BVetMed Year 3

5 Year route

$35,510

$17,755

$17,755

n/a

BVetMed Year 3

4 Year

route *

£19,620

$31,392

$15,696

$15,696

n/a

BVetMed Year 4

$34,670

$17,335

$17,335

n/a

BVetMed Year 5

$34,180

$17,090

$17,090

n/a

Intercalated BSc VetSci

£8,800

$14,080

$7,040

$7,040

n/a

MSc Vet Epi

£15,530

(inc £1,000 deposit)

$24,848

(inc $1,600 deposit)

$7,750

$7,749

$7,749

 

* The exchange rate is $1.6 to £1.

Requesting additional loans

You can request additional loans at any time during the school year, as long as your borrowing does not exceed your cost of attendance. The payments can be disbursed immediately, and would normally be in your bank account within seven working days of you making your request.

If you request an additional amount before your second scheduled disbursement, the additional amount will be disbursed in two equal disbursements - one immediately and the remainder will be added to your second scheduled Plus disbursement. If you have three scheduled disbursements, it will be disbursed over three disbursements.

That said, do not leave it to the last minute to request additional funds, as key staff may be on holiday and the college does close over the Christmas and new year period.

To request addition Plus loans email FinancialAidOffice@rvc.ac.uk stating "I wish to borrow a further $XX,XXX in Plus Loans, bringing my total in Plus Loans for the 2011/2 session to $XX,XXX".

Cancelling loans

You can cancel loans at any time prior to disbursement by notifying the Financial Aid Office by email.

If you cancel a loan after the money has been disbursed to the college, but prior to us taking the fees or processing your payment, we will return the disbursement.

If you decide to cancel after this point you will have to return the money to the Department of Education.

Withdrawal, graduation and repayment

Withdrawal and the Return of Federal Loan Funds

If you withdraw or fail to attend your course, you MUST inform the College, the Financial Aid Officer and your Guarantee Agency/Lender (for loans issued before July 2010) no later than five working days after withdrawal. Students who withdraw from their course of study are required to inform the college in writing.

Failure to attend after enrolment is deemed to be a withdrawal. Any "unearned" loan funds disbursed to you directly must be returned.

If a student who receives Title IV funding (including Direct Loans) withdraws, interrupts for more than 180 days or drops below half time attendance Goldsmiths, University of London will follow the requirements of returning funds laid down by the US Dept of Education and is applied alongside the college’s withdrawal and refund policy. The Financial Aid Officer will use the worksheets as provided by the US Department of education to determine how much of the loan may be retained and how much must be returned.

Return of funds by the School

A student ‘earns’ aid on a daily basis and therefore if a student withdraws any ‘unearned’ aid for that payment period need to be returned to your lender. Once the amount the college and the student needs to return has been calculated a cheque will be sent to the lender and the student notified if they need to return any funds.

Loans are returned in the following order:

  • Unsubsidised Stafford
  • Subsidised Stafford
  • PLUS (Graduate or Parent)

There are some Title IV funds that students were scheduled to receive that cannot be earned once a student withdraws because of other eligibility requirements. For example, in certain circumstances, if a first-time, first-year undergraduate student has not completed the first 30 days of the program before withdrawal, the student will not earn any FFEL loan funds that he or she would have received had the student remained enrolled past the 30th day.

A first year undergraduate, receiving Aid for the first time who withdraws within the first 30 days of a programme will be deemed not to have earned any aid.

As this policy uses a different calculation to the college's withdrawal policy it may mean that the student owes the college once the money has been returned to the lender. Students will be notified if this is the case.

Return of funds by Student

If the student is notified that there are loan funds that must be returned by the student, the student should repay in accordance with the terms of the promissory note. That is, scheduled payments are made to the holder of the loan over a period of time. Students who have received a refund of their loan proceeds before withdrawing may be required to return part or all of those funds to the lender.

Approved Leave of Absence

If a student interrupts it is important that they also speak to Fola Oloyede in order for the correct loan status to be determined. An Approved Leave of Absence can last for 180 days before a student goes into repayment or has to return funds. If the student does not return after 180 days the last date of actual attendance will be used to calculate the the ‘earned’ loan amount and the date a student enters repayment.

Exit counselling

The federal regulations require that all Stafford Loan borrowers who graduate or withdraw from their programme of study, complete an Exit Counselling. If you do this online you can see real examples of repayment options based on the loans you have accrued.

This can be done at: https://studentloans.gov/myDirectLoan/index.action

Select “Exit Counselling” from the “Tools and Resources” section.

Repayment

It is your responsibility to repay your loan. Usually, you will start repaying your Stafford loans six months from the date you graduate or leave the college, Please check with your loan servicer for full details on repayment

Consolidating FFEL Program loans into the Direct Loan program

If you already have FFEL Program loans and will now be receiving Direct Loans, consolidating your FFEL and Direct Loan program loans together into a Direct Consolidation loan may make loan repayment easier. If you consolidate, you will have just a single monthly payment. Consolidating your FFEL Program loans into a Direct Consolidation Loan may also allow you to take advantage of certain benefits that are offered only in the Direct Loan Program, such as Public Service Loan Forgiveness and the Income Contingent Repayment Plan.

To learn more about when you may consolidate, the pros and cons of doing so, and the application process, visit www.loanconsolidation.ed.gov or call 800/557-7392 (TDD/TTY: 800/557-7395).

Frequently Asked Questions

Can’t find the answer to your query on this page? Try our FAQ.

Communicating with us about your loans

Use the FinancialAidOffice@rvc.ac.uk email address for ALL correspondence with the college about loans and financial aid.

You will receive replies from individuals, but DO NOT email individuals. Staff who work in this area are part time and at times absent due to leave, illness or other commitments. Emails to FinancialAidOffice@rvc.ac.uk go to all members of staff who can deal with your query, and will result in a quicker response.

Most communication with students is done by Zuleika Longstaff, our Student Finance & Records Officer. The processing is done by Zuleika and Fola Oloyede.

If you need to speak to someone about your loan please ring +44 (0) 207 121 1943.

You can visit us in person at both campuses between 9am and 2pm. Please email FinancialAidOffice@rvc.ac.uk go to arrange an appointment, though if staff are available they will be happy to see you at any time.

Students in financial difficulty

The Student Records & Finance Office and the Student Welfare staff are here to help you. Please contact Zuleika Longstaff in the first instance.

Where can I find more information?

The following can provide more information on Federal Loans:

Designed and developed by the RVC Electronic Media Unit