Disbursement of funds

How and when will I receive my federal loan disbursements?

Before each disbursement, Swansea University is required to confirm you are still eligible to receive the funds. This includes ensuring you are making Satisfactory Academic Progress (SAP)Policy, and are studying at least half time and you are not conducting any study or research in the US.  You can read our SAP Policy to see what this entails. It is the responsibility of the student and the student alone to ensure they achieve SAP.

Disbursements of federal loans will be made by Swansea University in two or three equal instalments depending on the programme of study. The actual amount in GBP(£) for each instalment may vary, as it will be dependent upon the exchange rate used to convert USD($) to GBP(£) on that date. The exchange rate used to convert each loan disbursement will be the exchange rate that is live on the world markets on the day the money is converted. Please be aware that exchange rates change daily, and Swansea University has no control over what the live exchange rate will be on these days.

The disbursement dates for the year 2021-22 are outlined below. Please note that the disbursement date is the date our University will apply the owed amount to your tuition fee account, having received the loan funds from the U.S and converted these into GBP(£). It is not the date that you will receive the living expenses (if applicable). These can take up to 10 days to be deposited in your UK bank account after the disbursement dates stated.

Postgraduate Taught programmes

If a January 2021 starter:

• Disbursement 1: 22 January 2021
• Disbursement 2: 11 June 2021
• Disbursement 3: 8th October 2021

Undergraduate September 2021 programmes

• Disbursement 1: 7 October 2021
• Disbursement 2: 20 January 2022

Postgraduate Taught programmes

If a September 2021 starter:

• Disbursement 1: 7 October 2021
• Disbursement 2: 20 January 2022
• Disbursement 3: 9 June 2022

If a January 2022 starter:

• Disbursement 1: 20 January 2022
• Disbursement 2: 9 June 2022
• Disbursement 3: 6 October 2022

Postgraduate Research (PhD)

If an October 2021 starter:

• Disbursement 1: 7 October 2021
• Disbursement 2: 1 April 2022

Or if a mid-year starter (January, April or July), the disbursement will be made at the start and mid-point of the programme. The Financial Aid Administrator will advise further on this on application.

Federal loans must be allocated to any due tuition or University accommodation fees first as stated in the US Department of Education regulations before any excess is returned to you. You will then be notified of how the loan has been allocated.

For Undergraduate loans, we will consider credit balances to first be comprised of Direct Loans (Stafford). Therefore, Parent PLUS funds (if applicable), will be used first to apply to tuition and University accommodation charges (where applicable).

Within three working days of receiving the disbursement, we will credit your tuition fee account and university accommodation account (if applicable). Excess funds will be paid directly to your UK bank account within 10 business days so that you can use these funds for living expenses. If you fail to open a UK bank account, then the funds will be available as a GBP(£) cheque and available to collect from our Finance Department. Please ensure you advise our Finance Department of your UK bank account details as soon as you have opened your bank account after fully enrolling.   

Disbursement Deadline dates

For your federal loan to be disbursed on the first disbursement date above we will need to receive your complete application by 1st day of September for October disbursements and 1st December for January disbursements (Mid year PhDs will need to contact the Financial Aid Administrator for guidance. We cannot guarantee that applications submitted by this deadline will be approved in time for the first disbursement if there are any outstanding issues with your loan application.

Any application received after these dates will be processed as a late application and, once processed, we will contact you to let you know the date of your first disbursement.

Any applications made throughout the academic year must be received at least one calendar month before the next disbursement date. Please note however that we cannot guarantee that applications will be processed within these timescales if there are outstanding issues with your loan application.

Additional Information

You should be aware of our  Return to Title IV Policy

Swansea University looks forward to offering the benefits of Direct Loans to our U.S. students. 

For additional information about Direct Loans, visit the Federal Student Aid website or contact our Finance and North American Loans Officers:

Sarah Charles
Email: s.m.charles@swansea.ac.uk 
Telephone: 011 44 1792 602365 (between 9 a.m. – 4 p.m. UK time)

Useful contacts

US Department of Education: (202) 377 3168 or (213) 345 2104

Full information about the loan process can be found on the Federal Student Aid website

Click here for the FAFSA Website