Private loans

We recommend that students investigate Title IV Federal Aid (US Direct Loans) in the first instance before applying for a private loan as Direct Loans are often cheaper. Private student loans must be certified by the University and may not be certified for more than your maximum Cost of Attendance.

Private loans are a helpful alternative if you're unable to borrow Direct Loans, such as for Medical or Nursing students, or if you're on a course with overseas or online elements that make it ineligible. They can also be a useful option for financing beyond the base Direct Loan award. You will usually need good credit and a co-signer in order to apply.

The University of York is unable to recommend any one lender over another or advise on the suitability of any loan product. It is your responsibility to carefully research the terms and conditions (including repayment obligations, interest rates, deferral options, etc.) and consider the implications on your specific circumstances before going ahead with any loan.

You should not apply for a private loan more than 180 days before the expected disbursement date, which will be after you begin your studies. For example, if your course starts in October, you should not apply before May or your loan application will become invalid.

Private lenders

To the best of our knowledge, the following private lenders make loans available to US citizens studying at institutions outside the US. The following list is not exhaustive, and we recommend that you investigate additional private lenders to determine whether they will lend to you during your studies in the UK.

Some lenders offer private loans to residents of specific US States. For example:

If you have received financial aid from a different lender while studying outside the USA and have received excellent benefits and quality service, please let us know by emailing Student Financial Support.

How to apply for a private loan

You will need to make a separate application for each academic year you need a loan. Applications for each academic year usually open in May.

Complete our online Application Form for US Private Loans for 2026/27, from 4 May 2026.
- For loans for the 2025/26 academic year, please contact Student Financial Support at sfsu@york.ac.uk, including your nine-digit student number in the email.
Apply to your chosen private lender via their website online.
- You will be required to complete a self-certification form before your lender is able to disburse your loan. Your lender may provide you with a copy of the form or you can download a copy of the online PDF.
Send us a copy of your loan agreement/MPN when received from your loan company.

How we calculate your cost of attendance

For on campus courses

Your Cost of Attendance is calculated to cover your costs, including:

accommodation and college fees
insurance for your possessions
food, toiletries and laundry costs
course-related costs such as field trips, textbooks, printing
social and sporting activities
mobile phone and TV licence
travel to and from the UK and travel while at university
visa costs and NHS surcharge (first year only)
a computer and printer (first year only)
tuition fees

Example Cost of Attendance calculations can be found on Undergraduate: Direct Loans for Americans.

For online/distance learning courses

For online or distance learning courses, your Cost of Attendance covers your tuition fees only.

Exchange rate

We determine a fixed exchange rate once a year and apply it to all Cost of Attendance calculations. We don't revise our calculations throughout the academic year to account for small fluctuations in the commercial exchange rate.

Receiving your loans

We can only certify private loans to be released after you have begun your studies at the start of your academic year.

If you are studying on campus, your loan can't be paid until we've confirmed you have arrived on campus at the University of York. Once we have confirmation from your department, we'll request your funds from your loan provider. You must ensure you have enough money to cover your start-up costs and living expenses while you are waiting for your loan.

Students who apply prior to the start of Semester 1 receive their loan approximately three weeks after the start of the academic year.

We receive your funds from your private loan provider in one instalment. The University will receive your loan in dollars (USD). These funds are then converted into pounds sterling (GBP) using the current exchange rate that the University obtains from its bank. We'll deduct your fees in the first instance and then pass any remaining balance on to you as a personal disbursement.

If your loan does not cover your full fees, you will be responsible for paying the balance. Because exchange rates fluctuate, we will not know the exact balance owing until after your loan has been received.

Stopping or pausing your study

If you are considering withdrawing from your studies or taking a leave of absence, please contact Student Financial Support (sfsu@york.ac.uk).

You will also need to contact an Immigration Advisor for advice before making a change. Please visit the University’s Support for international students web page.

FAQs

Do I need a UK bank account?

A UK bank account is preferable if you are expecting to receive a personal disbursement, as it reduces the number of times your money will be subject to exchange rates.

Can I use a different lender not already listed on this page?

Where possible, the University will work with whichever private lender a student decides to use. There may be some additional steps needed to establish a relationship between the lender and the University of York. If the lender you are interested in borrowing with is not already listed on this page, please let the SFS Team (sfsu@york.ac.uk) know and they will be happy to investigate.

Can I increase the amount I want to borrow later in the year?

Yes - provided your borrower will allow you to increase the amount you are borrowing, the University can certify an amount up to your maximum Cost of Attendance (this includes any Federal Aid if you are borrowing a combination of federal and private loans).

If you wish to increase the amount you are borrowing, please contact the Student Financial Support Team with full details of the changes you wish to make.