General University funding
William D. Ford Federal Direct Loan Program - FAQ
What is Loughborough's OPE ID?
Our Office of Postsecondary Education (OPE) ID Number is 008458-00.
What is Loughborough's School Code?
Our School Code is G08458.
How Much Can I Borrow?
Your loan amount
The loans available are:
| Subsidised | Fixed, maximum value; no interest charged while in school | Origination fee of 0.5% deducted at disbursement |
|---|---|---|
| Unsubsidised | Fixed, maximum value; interest charged while in school | Origination fee of 0.5% deducted at disbursement |
| PLUS Loan | Max value set by Loughborough University in the calculated cost of attendance; interest charged while in school | Origination fee of 2.5% deducted at disbursement |
The maximum amount of subsidised and unsubsidised loans is as follows:
Dependent undergraduates (Students aged 24 and under):
| Year of course | Subsidised loan | Unsubsidised loan | Maximum loan | 1 | $3,500 | $2,000 | $5,500 |
|---|---|---|---|
| 2 | $4,500 | $2,000 | $6,500 |
| 3 and later | $5,500 | $2,000 | $7,500 |
Independent undergraduates (Students aged over 24 or those whose parents are refused a Parent PLUS Loan):
| Year of course | Subsidised loan | Unsubsidised loan | Maximum loan | 1 | $3,500 | $6,000 | $9,500 |
|---|---|---|---|
| 2 | $4,500 | $6,000 | $10,500 |
| 3 and later | $5,500 | $7,000 | $12,500 |
| Year of course | Subsidised loan | Unsubsidised loan | Maximum loan | All years | $8,500 | $12,000 | $20,500 |
|---|
The lifetime aggregates remain $65,500.00 (subsidised) and $138,500.00 (combined subsidised and unsubsidised). You may not borrow more than this total amount.
Federal Direct Parent and Grad PLUS Loans may be used as supplemental funding when subsidised and unsubsidised loan maximums are reached. As always, the total amount you may borrow in student loans for any academic year is limited to your annual calculated cost of attendance minus all other sources of funding.
William D. Ford Federal Direct Loan Program - Acronyms
ACG – Academic Competitiveness Grant
COD – Common Origination and Disbursement System
CPS – Central Processing System
CSB – Common Services for Borrowers
DPA – Destination Point Administrator
eApp – Electronic Application
ECAR – Eligibility and Certification Approval Report
EFC – Estimated Family Contribution
FAA – Financial Aid Administrator
FAFSA – Free Application for Federal Student Aid
FFELP – Federal Family Education Loan Program
FISAP – Fiscal Operations Report and Application to Participate
FMS – Financial Management Services
FSA – Federal Student Aid
IFAP – Information for Financial Aid Professionals
ISIR – Institutional Student Information Report
National SMART Grant – National Science and Mathematics Access to Retain Talent Grant
NSLDS – National Student Loan Data System
OPE ID – Office of Postsecondary Education ID (which, for Loughborough, is 00845800)
PEPS – Postsecondary Education Participants System
PPA – Program Participation Agreement
SAIG – Student Aid Internet Gateway
SAR – Student Aid Report
SSN – Social Security Number
TDCM – Transaction Delivery Community Manager
TEACH – Teacher Education Assistance for College and Higher Education Grant
TLA - Three-Letter Acronym
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