Student loan process 2010

Oh wow, that'd be brill -- I'm planning on visiting New York in a few months, so it'd be great to get the visa sorted in the same trip.  I wonder what they had you do exactly -- it'd be great if it's all that straightforward.

Last summer there was information on the Worldbridge website (https://www.visainfoservices.com/Pages/Welcome.aspx) about in-person applications for Tier 4 visas at the consulates, but the info isn't up there anymore... I think they started allowing the appointments in June last year, so if they do it again, they probably won't release the information for another few weeks.

This thread regarding the appointments is from last June: http://talk.uk-yankee.com/index.php?topic=54797.0

Thanks so much for the information -- that was very informative.  I hope they do it that way this year.

we should keep this thread going, kinda share information about loan changes and visa...our progress and such. Sounds like some of us are in the same boat. I know i was hoping on doing loans may/june and visa in july as well.

So if you got some news, please share, or just updates on your situation. I am a bit confused at these changes about to occur.

I will be happy to share any new information I receive, and I hope others will too.  That was my intention in starting this thread.

I've found this, from Oxford (not that I'm going there, ha):

Significant changes are being made to the federal student loan system over the coming months, so prospective and current students are advised to delay their loan application until May 2010, at which point any new arrangement will have been confirmed by the US Department of Education.

From:
http://www.admin.ox.ac.uk/studentfunding/us_loans/index.shtml

I'm choosing to take this as a good sign -- May, I can deal with.

I will be happy to share any new information I receive, and I hope others will too.  That was my intention in starting this thread.

I've found this, from Oxford (not that I'm going there, ha):

From:
http://www.admin.ox.ac.uk/studentfunding/us_loans/index.shtml

I'm choosing to take this as a good sign -- May, I can deal with.

wow good find, just skimmed through it will look at this bit later. May is what i was hoping for!

any updates ? cant find nothing!! want to get started on loans soon!

No updates, unfortunately.  However, I was sent this very informative link, which explains a lot of the details of how student loans have changed because of the health care bill: http://www.finaid.org/educators/20100330hcera.phtml

The standout to me was the lower interest rate on Grad PLUS loans (hurrah!):

The interest rate on the Direct Loan version of the PLUS loan (both Parent PLUS and Grad PLUS) is lower and the approval rate is higher. The PLUS loan has a 7.9% interest rate in the Direct Loan program, compared with the 8.5% interest rate in the FFEL program. The Stafford loan is essentially identical in both programs.

ETA: I just found this web site: http://www.directstudentloancoalition.org/
It has some more information.  It also says that all schools must switch to the Direct Loan program by July 1 -- this is a deadline.  So at least we know now that July 1 would be the latest we could start the whole process.  I hope it's sooner, but at least we have a vague timeframe now.

Yeah i talked to my the lady at my uni who deals with US student loans today she said she has training mid june for all this and will get back to me then. just wanted to get this process started already!

Received an email yesterday regarding loans,

Thank you for your patience. As you probably know it has now been confirmed that all government  loans for the next academic year will be made through the Federal Direct Loan Program (FDLP). Details of how Direct Lending will work for foreign schools are still being negotiated and subject to confirmation by Congress, and as a result  we will not have access to the websites and software systems to be able to certify loans until after 1st July. However in the meantime I can confirm the calculations for your cost of attendance for your Masters course here at Nottingham.

She proceeded to show me the calculations for the cost of attendance, and the types/amount of each loan that she should be able to certify for me--ie, the full cost of attendance. sweet!....

So from that, it's now sounding like I won't know anything for sure until July.  I'm trying to be pretty laid back about it all, because that's all I can do. I think things will work out in the end...and in the meantime, I can continue to save up some money

Great..  This is really going to be cutting it close for me   I expect certifying the loans, with all the mailing of documents &c. &c., to take longer than the visa process.

Great..  This is really going to be cutting it close for me   I expect certifying the loans, with all the mailing of documents &c. &c., to take longer than the visa process.

What does having the loans certified actually mean, anyway? It certainly sounds important, and I'd imagine it includes signing things and either mailing the originals/faxing.  Is this pretty much it??  I figured it would take a week or two...I guess I was wrong??

I don't know the whole process -- all Iknow is from the link I posted at the beginning of the thread.  But back in the day (i.e. before this year) you had to send the FAFSA SAR to the school, then they'd certify it and send it back, then you sent it to the lender, then they sent it to someone else &c. &c.  In that thread people tell of it taking several weeks.

ahhh man!! I don't like the sound of after 1 july, that is cutting it close! Ive been waiting since December for the next step! Well who knows nothing is set in stone, could be little sooner...we can only hope!!
All ive done so far was my FAFSA and i mailed a copy of my SAR to my uni, but they havent received it yet....been almost 3 weeks..im wondering if the volcano delayed it or if i should re-send it.

Certifying is basically your uni accepting the amount that you are applying for.  If you ask for too much (like way too much) they won't certify them because they'll get in a bunch of trouble with the US government. 

I think when mine were certified, my uni dealt with the loan company directly at that point.  I don't recall doing much after sending everything off to the uni.

Whatever happens, be sure to call whatever body is lending the money and request Loan Verification Letters.  It's likely you'll just receive some sort of electronic verification that you've been approved and your visa app is going to require hard copies.

i don't like the sound of all this...i mean i'm not that worried about actually getting the money...i'm more worried about at what cost?! it also sounds like Sallie Mae, Citibank, etc. are out of the question for the PLUS loans as no one will be educated about anything until mid June and the time that it takes for the paperwork to bounce back and forth across the atlantic will mean that the June 30 date is infeasible. ugh...i need to make some phone calls...and need to read through the FFEL to read about the terms and conditions on these loans...i still don't know if i understand what is going on...may even get out the health care bill and read the education amendment on there...

tea time...you mentioned you were going to UCL...I'm following the step by step guidelines under the making an application...but probably in vain...heres the link...
http://www.ucl.ac.uk/prospective-students/scholarships/us/

will keep ya posted on findings...
Anybody else wonder about the having your money 28 days in the bank before your granted the Tier 4 Visa...I think there are exceptions with student loans...still need to look into...