About US loans

William D Ford Federal Direct Loans

Subsidized and Unsubsidized Loans (formerly known as Stafford Loans) and Plus Loans are available through the Direct Loan programme operated by the US Education Department.  

Direct Loans are educational loans to assist US citizens with the costs of studying. You should consider the Subsidized and Unsubsidized Direct Loans first as usually this is the cheapest way of borrowing. If you need additional funding you should then consider a Direct Plus Loan.

The maximum total borrowed from Direct and private loans cannot exceed the annual maximum Cost of Attendance. For Direct Loan application details please see How to Apply for a US Federal Loan

Please note that only on-campus degree students are eligible for Federal Direct Loans at SOAS. Students studying online or by distance-learning, or at certificate or diploma level are not eligible.

The School Federal Direct Loan Code is G06694 listed under ‘School of Oriental and African Studies - University of London'.

If you have any questions about US loans please contact the Fees and Funding Team by emailing funding@soas.ac.uk.

Level of Study Mode of Study Eligible for US Federal Direct Loans Eligible for US Private educational loans
Undergraduate Foundation year without a language year abroad Yes Yes
3 years full-time Yes Yes
4 years full-time with a language year/study abroad Whole degree ineligible Yes
Postgraduate Masters 1-year full-time (including on-campus, part-time variants if your visa allows part-time study) Yes Yes
2 years full-time with (Intensive Language) study abroad Whole degree ineligible Yes
Postgraduate Research 3 years full time plus 1 year full time for writing up Yes Yes

Cost of Attendance, Loan Periods, and Exchange Rates

Cost of Attendance

The Cost of Attenance (CoA) is the amount it will cost a student to go to SOAS, if you are attending School at least half time.

The CoA is the estimate of tuition and fees, cost of food and housing (living expenses), cost of books, supplies, transportation, loan fees and miscellaneous expenses.

The CoA is set by SOAS school but may be adjusted downwards by the student to reflect their specific needs.
You may borrow up to the CoA set by the School, but not exceed it.

  Cost of Attendance per Week
Tuition Fees Tuition fees for the programme of study
Room GBP 300
Board GBP 100
Books and Study Supplies GBP 30
Transportation GBP 40
Personal GBP 60

 

  Cost of Attendance, Single Costs
2 Return Flights GBP 1,600
Visa Application and Associated Fees GBP 900

Other essential costs may be included but are subject to approval by the School and must be in line with the relevant guidance and regulations.

Loan Periods

Loan periods covered for academic year 2023/24 are as follows:

Level of Study Loan Period
Undergraduate 25 September 2023 - 14 June 2024
Postgraduate Taught 25 September 2023 - 6 September 2024
Postgraduate Research 25 September 2023 - 22 September 2024

Students who are only due to enrol for parts of the academic year will be subject to a lower Cost of Attendance.

Exchange Rates

The actual GBP (Sterling) you receive will vary as it is dependent on the exchange rate from USD to GBP at the time of the disbursement. The rate applied will be a retail rate and not the interbank rate.

Interest Rates and Origination Fees

Interest Rates

The US Federal Government calculates and sets the interest rates for Direct Loans on an annual basis starting from July 1st each year. For more information please visit studentaid.gov.

Origination Fees

Federal student loans have an origination fee; therefore, the amount you may receive as a disbursement may be slightly lower than the amount you accept. 

Loan Limits

Different loan limits apply to the different types of loans. Details can be found below.

Loan Limits for: All Students Dependent Students Independent Students
  Subsidised Loan Unsubsidised Loan Unsubsidised Loan
Undergraduate Year 1 USD 3,500 USD 2,000 USD 6,000
Undergraduate Year 2 USD 4,500 USD 2,000 USD 6,000
Undergraduate Year 3 USD 5,500 USD 2,000 USD 7,000
Graduate/Professional     USD 20,500
Direct PLUS Loan Balance up to the Cost of Attendance
  • You can borrow less than the maximum COA
  • You can request more funds later in the year up to the maximum COA
  • You should only borrow what you need.

Policies and Consumer Information