Private Loans

Students who are unable to take out US Federal Loans or whose programme of study does not meet the criteria for a US Federal Loan may still be able to borrow from private lenders in the US.

Private education loans are not part of the Federal Loan programme. The University will work with whichever lender you choose; however, Sallie Mae is the only US private lender that we are aware of providing loans to students at a foreign school. Sallie Mae also offer loans for parents: Sallie Mae Parent Loan.

Please note that the terms of a Federal Loan may be more favourable than the provisions of a private loan. You are advised to check your eligibility for a Federal Loan and compare the terms, charges and interest rates before taking out a private loan. US private student loans do not enable you to borrow more funds than US Federal Loans.


Eligibility for Sallie Mae education loans is determined by Sallie Mae. The type of loan offered will depend on your credit rating, and a co-signer may be required. Sallie Mae have different rules on eligibility from Federal Aid, and some of the restrictions of Federal Student Federal Aid do not necessarily apply. The University is unable to advise on the Sallie Mae rules of eligibility, but does get notified if Sallie Mae consider you to be eligible and create a loan for you.

How to apply

To confirm the maximum loan amount we would support we require you to complete a Cost of Attendance spreadsheet (CoA). To request a copy of the CoA form, please email with your name, student number and course title. The maximum private loan can be the full cost of attendance for the year less any other financial aid (loans, awards, bursaries, scholarships etc.).

The US Loans team will start looking at loan applications from May for the academic year starting the following September, for new students who have firmly accepted a conditional offer for a place at York St John University and for current students progressing onto the next level of their course. You should not apply for a Sallie Mae loan more than 180 days before the disbursement date (i.e. for a loan disbursement in October, do not apply before May) as the loan will become invalid. York St John University will not certify loans without a CoA spreadsheet being completed.

Apply for the loan online with Sallie Mae.

If Sallie Mae approves loans for you, York St John University will then be notified to certify your requested loan amount. Please send the US Loans team your completed Cost of Attendance spreadsheet (in Excel please, not a PDF or image file) and your signed loan agreement from Sallie Mae (Private Education Loan Applicant Self-Certification form). The US Loans team will certify your Sallie Mae loan application when we have both documents back from you.

How do I get my funds?

Sallie Mae transfers the Funds via Western Union, who convert them into GBP £. The University will deduct tuition and accommodation fees due and arrange for the balance to be paid into your UK bank account.

We will request that the loan be payable in one instalment at the beginning of the academic year. The University will deduct any tuition fees and accommodation fees to be paid from the private loan, and pay the student any remaining funds. Tuition and accommodation deductions will be made in Pounds Sterling (GBP £) and the remaining balance of the disbursement (if any) will be credited to your UK bank account in GBP (£). The University cannot know in advance or guarantee the exchange rate used at the point of each disbursement. The Cost of Attendance calculations are based on an estimate only.

If you are in receipt of both private loans and Federal Loans you should be aware that your Federal Loan disbursements may be on different dates to your private loan disbursements.

It is also strongly recommended that you plan on having sufficient funds available for travel to the UK, accommodation, books, supplies and any other personal expenses during the first four to six weeks of classes in light of the timeframes outlined above or in the event that there is some delay in your financial aid arriving from the USA.

Can I borrow a Federal Loan as well as a private loan?

If eligible for both, you may borrow a combination of private and Federal Loans, but the combined total of loans between the two sources cannot exceed the maximum value of your Cost of Attendance.

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