The FAFSA or Free Application for Federal Student Aid is a student aid fund run by the U.S. Department of Education to help finance students pursuing higher education, whether it be a Bachelors or Masters degree.
What a lot of Americans don’t realise is that they are still able to make an application for student aid EVEN if they choose to pursue a degree in the UK. There is a lot of confusion on whether funding is available for Americans overseas and who it might be available to.
Let’s make it simple then…
Remember this date: June 30th
Most Americans will be familiar with the FAFSA if they have previously completed an undergraduate degree in the U.S. In fact, even earlier; as Seniors in high school are required by their schools to fill out a FAFSA as a class assignment. This is in order to teach students to take control of their student funding in the years ahead.
June 30th is the typical deadline for the online FAFSA application but it does vary in some states so please check on this website: https://fafsa.ed.gov/deadlines.htm
Eligibility: You must be an American citizen with a high school diploma or GED who has been enrolled or accepted as a student at a university degree or certificate program. You can click to see this simple pathway on the following image:
Type of aid: Pell Grant, Direct Subsidized Loan, Direct Unsubsidized Loan, Direct PLUS Loan
If you’re an undergraduate student who is spending less than a year’s time in the UK then Pell Grants are the best option. Grants don’t have to be paid back but are only awarded if you’re eligible according to your financial need. Those who cannot apply for a grant will need to look at Direct Subsidized Loans, loans with no interest charges until after graduation.
For undergraduates who don’t demonstrate financial need (depends on yours or parent’s income)—Direct Unsubsidized Loans are available but charge interest straight away.
Direct PLUS Loans are most suitable for postgraduate students and parents of students with a good credit history, interest is charged at all times.
Which UK universities are eligible to receive US student aid?
For a full list please have a look here: https://studentaid.ed.gov/sa/sites/default/files/international-schools-in-federal-loan-programs.xlsx
Not the right option for you? If you’d like to learn more about other funding opportunities for American students, please message our AppUK team at email@example.com
Cover image ref: http://www.freepik.com/free-vector/money-bag-exchange_788311.htm