Eligibility for US student loans
US citizens and eligible non-citizens may borrow up to the Cost of Attendance and no more. The general Cost of Attendance is calculated by the Financial Aid Office, and it can only be modified if a student has specific needs. The Cost of Attendance includes costs for living in Lund/Malmö/Helsingborg, costs related to travelling to/from Sweden and the tuition fee at Lund University. If you need information regarding the tuition fee for a specific course/programme at Lund University, please visit the programme/course webpage.
Subsidised (Undergraduates only) and Unsubsidised loans have fixed maximum limits depending on whether the student is dependent, independent or postgraduate. These loans may be topped up to the full cost of attendance with the help of a PLUS loan which is not an entitlement (it is subject to credit checking and may be declined by the Ed Department of Education).
|Year||Dependent Students (except students whose parents are unable to obtain PLUS Loans)||Independent Students (and dependent undergraduate students whose parents are unable to obtain PLUS Loans)|
|First-Year Undergraduate Annual Loan Limit||$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 Undergraduate Annual Loan Limit||$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-Year and Beyond Undergraduate Annual Loan Limit||$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.|
|Graduate or Professional Students Annual Loan Limit||Not Applicable (all graduate and professional students are considered independent)||$20,500 (unsubsidized only)|
|Subsidized and Unsubsidized Aggregate Loan Limit||$31,000 – No more than $23,000 of this amount may be in subsidized loans.||$57,500 for undergraduates – No more than $23,000 of this amount may be in subsidized loans. $138,500 for graduate or professional students – No more than $65,500 of this amount may be in subsidized loans. The graduate aggregate limit includes all federal loans received for undergraduate study.|
The actual loan amount you are eligible to receive for an academic year is determined by the Financial Aid Office and it may be less than the maximum annual amounts shown in the chart above. The US Department of Education charge an origination fee on all loans and this fee is deducted from each disbursement.
Not all programmes are eligible for Title IV student aid. Courses and programmes with elements containing online or distance education are not eligible for Title IV student aid. Joint courses with US schools, or programmes where any part of the education (internship courses, field trips etc) takes place in the US are not eligible.
Furthermore, if you wish to study abroad on an exchange semester (or similar), as part of your current studies at Lund University, you must choose to study at an eligible institution also participating in the Federal Student Loan Programme. If you don’t, you might lose your loan eligibility at Lund University.
All loans at Lund University are disbursed in two equal disbursements, one per semester. The disbursements take place in the beginning of each semester, and there are a couple of requirements you need to fulfill before the initial disbursement at Lund University. All students need to visit the Financial Aid Office in person to show their US passport, and hand in their Swedish Bank Account details before we can disburse any funds. At the initial meeting we will have a brief session regarding your rights and responsibilities as a student and borrower. All students must also have completed the mandatory digital Entrance Counseling session before we are able to disburse any funds.
All disbursements are subject to the following conditions:
You need to be enrolled at least half-time
You need to make satisfactory academic progress
No part of the education may take part in the US
You have not violated any part of the regulatory framework regarding compliance (defaulted on previous loans, fraud, drug conviction etc)