US Federal Student Aid Policy

Version Number: 2.0

Revision date: May 2025

Policy Owner: Student Records and Examinations Office

Approval by: Academic Board 07 May 2025

Review: Annually

1. Introduction
2. Purpose of Policy
3. Scope of Policy
4. FERPA (Family Educational Rights and Privacy Act)
5. Data Protection Policy
6. Programmes
7. Eligibility for US Federal Aid and Criteria to be Satisfied
8. Eligible Programmes
9. Federal Aid Loans available and relevant information for Private loans
10. Self-Certiﬁcation
11. What to Keep in Mind when Borrowing
12. Loan Limits – How much you seek to borrow?
13. Cost of Attendance and Professional Judgment
Appeals
Refusing or Reducing a Loan
Direct Loan Application Guidelines
Satisfactory Academic Progress
Withdrawal and the Return of Federal Aid Loan Funds – R2T4 Policy
Graduation
Student Responsibilities
Limitation of Liability for US Federal Loans Discontinuation Appendices
Contact for further information

1. Introduction

US Federal loans are educational loans and for the purpose of covering the primary costs of educational study e.g. tuition, student accommodation and board, books/academic requisites. The primary costs of education cannot exceed the student’s “Cost of Attendance (COA)” e.g. UCC’s official estimate of the student’s tuition and living costs of the academic year of study.

A loan is money that you must pay back with interest.
Please refer to Federal Aid Types of Student Loans

University College Cork (“UCC”) participates in the U.S. William D. Ford Direct Loan programme. Eligible students can obtain Subsidized and Unsubsidized loans and Parent PLUS or Graduate PLUS loans from the U.S. Department of Education (“U.S. Federal Loans”). The U.S. Government is the loan provider for federal aid. UCC manages the loan origination, disbursement of Title IV funds, assesses eligibility (for new applicants and continuing student) under the U.S. Federal Aid Regulations and this Policy and UCC has responsibility for supporting the enforcement of relevant
U.S. Department of Education Regulations. The availability of US Federal Loans is subject to policies and decisions made by the US Government and/or the US Department of Education. See the Limitation of Liability for US Federal Loans Discontinuation clause below.

UCC retains discretion as to its decision to continue its involvement with the US Federal Loan Programme – see the Limitation of Liability for US Federal Loans Discontinuation clause below.

It is imperative that you read the following information to fully understand the application process, eligibility requirements and compliance requirements both from UCC’s and the U.S. Department of Education. Please note that US Federal Government regulations for Foreign Schools diﬀer to those for US domestic schools and that the process which we follow at University College Cork is in accordance with the regulations for Foreign Schools. It is important to adhere to deadlines and to plan early as the process takes time from initial application to loan origination.

2. Purpose of Policy

The purpose of this Policy is to assist both prospective and current students in understanding both their obligations and UCC’s role both in facilitating access to the loans available from the U.S. Department of Education (should the student be eligible to do so) and UCC’s enforcement of this Policy. It is important that you understand that taking out a loan is a considerable responsibility which may impact your life for many years after completing and graduating from your eligible degree /course of study. Each student should carefully review the U.S. rules and guidance, together with this policy. https://studentaid.gov/

3. Scope of Policy

This Policy applies to all prospective applicants to UCC, and existing students who wish to avail of U.S. Federal student loans or those current students who wish to continue availing of such loans.

4. FERPA (Family Educational Rights and Privacy Act)

UCC provides all students with the following Data Protection Notice upon registration. This notice sets out how the University uses students' personal data, who we may disclose it to, data subject rights (e.g., students' right to request access to /rectiﬁcation of their data, etc.).

UCC will provide information published by the US Department of Education to students at any time that information regarding loan availability is requested, including the rights and responsibilities of students and schools under Title IV HEA (Higher Education Act) loan programs.

5. Data Protection Policy

Data Protection is how the privacy rights of individuals are safeguarded in relation to the processing of their personal data. University College Cork (“the University”) needs to collect and use personal data about its students, staﬀ and other individuals who come into contact with the University. Those individuals (“data subjects”) have privacy rights in relation to the processing of their personal data. The University must therefore comply with the EU General Data Protection Regulation (“GDPR”) and the Irish Data Protection Acts, 1988 to 2018 (the “DPA”) – known collectively in this policy as “the Data Protection Acts”. The Data Protection Acts confer rights on individuals as well as responsibilities on those who process personal data.

For further information see UCC Information Compliance.

6. Programmes

A list of programmes oﬀered at UCC can be found on the Study Courses webpage.

7. Eligibility for US Federal Aid and Criteria to be Satisfied

Students from the United States of America who choose to study at foreign institutions are not eligible for grants from the US Federal government e.g., Pell Grants but they may apply for US Federal loans to fund their study.

The Federal Direct Loan programme is available to those who;

are US citizens or eligible non-citizens
are enrolled on an eligible Programme (seebelow for link tothese Programmes)
meet the definition of a regular student(see definition below)
meet theeligibility requirements and UCCcriteria underthis Policy
comply with this Policy
are making satisfactory academic progress
are not in default on a previous loan or exceeding federal loan limits (either annual or total aggregate)

Additional eligibility requirements can apply in certain situations including for non-U.S. citizens, students with criminal convictions, and students with intellectual disabilities.

Eligibility requirements are ongoing for the entire duration of a student’s studies at UCC (where funded by U.S. Federal loans).

The basic eligibility requirements¹ that students/applicants (both new applicants and continuing students seeking to avail of the US Federal Student Aid Loan) must have or be include all of the following;

demonstrate financial need for need-based federal student aid programmes
be a U.S. citizen or an eligible noncitizen
have a valid Social Security number (with the exception of students from the Republic of the Marshall Islands, Federated States of Micronesia, or the Republic of Palau)
be enrolled or accepted for enrolment as a regular student (see below for definition)in an eligible degree or certificate programme
maintain satisfactory academic progress in accordance with UCC’s policies, including but not limited to this policy and the Satisfactory Academic Progress policy in Appendix 1
provide consent and approval to have their federal tax information transferred directly into their Free Application for Federal Student Aid (FAFSA®) form
sign the certification statement on the FAFSA form stating that they are not in default on a federal student loan, they do not owe money on a federal student grant, and they will only use federal student aid for educational purposes
show they are qualified to obtain a college education.

Additional Criteria to be met for Eligibility

UCC also requires that each student, either a first-time applicant or a continuing student meets the following criteria (A and B below), in support of and in addition to the above requirements;

Criteria A: Satisfactory status as a regular student

In accordance with US Education regulations, a regular student is defined as “A person who is enrolled or accepted for enrolment at an institution for the purpose of obtaining a degree, certificate, or other recognized educational credential offered by that institution.

To meet this criterion, a student must have enrolled in the programme for the specific purpose of earning a credential (a degree, certificate, or other recognized credential) from UCC by successfully completing all elements of the educational programme/course of study and being eligible to graduate from that educational programme/course of study. Therefore, a student whose actions indicate that their purpose in enrolling in a degree programme or other course of study is to obtain federal student aid funds, instead of earning a degree would not be a regular student and therefore would not be eligible to receive disbursements of federal student aid.

Circumstantial evidence of a student’s intent when enforcing the requirement that a student be a “regular student” may be considered by UCC. For example, where a student has a history of enrolment in multiple programmes or at multiple institutions which did not result in the completion of an academic programme or graduation from the academic programme, or enrolment in multiple academic programmes with the same credential. UCC will consider whether the student meets the federal student aid eligibility criterion of being a “regular student” and UCC’s requirement for satisfactory status as a regular student.

Criteria B: Adherence with the Satisfactory Academic Progress Policy

Students are required to demonstrate adherence with the Satisfactory Academic Progress Policy – See Appendix 1

8. Eligible Programmes

Eligible Programmes

Degree (Undergraduate or Postgraduate)
Medical programmes* *
Masters
PhD

Non-Eligible Programmes

Nursing
Diploma Programmes
Foundation Programmes
Programmes that Include Distance Learning
Adult Continuing Education Programmes
Adult Continuing Education short courses
Continuing Professional Development courses
Programmes leading to Micro Credentials
Programmes more than 25 percent of which takes place in the USA. Study in the USA can only be at institutions of higher education that are themselves eligible for the US Title IV aid programs.
Programmes, including dual degree programmes, more than 25 percent of which take place at an institution outside the USA that is itself not eligible for the US Title IV aid programmes.
Eligible students at University College Cork may also apply for private loans. See Section below on “Private Loans” for further information.

* * Medical Programmes for the academic year 2025-26 are not considered eligible for US Federal loans.
Refer to the Limitation of Liability for US Federal Loans Discontinuation clause below.

Medical Programmes for the 2023-24 academic year were eligible only for continuing students who had previously borrowed US federal loans at University College Cork. UCC is taking steps to seek full eligibility for 2025-26 but whether US federal loans are available to medical students for that academic year will not be known until sometime in 2025. Refer to the Limitation of Liability for US Federal Loans Discontinuation clause below.

1. https://studentaid.gov/understand-aid/eligibility/requirements

9. Federal Aid Loans available and relevant information for Private loans

Eligible students at University College Cork can apply for the following Federal Aid loans:

Direct Loans (Subsidized and Unsubsidized)
Parent Direct PLUS Loans (for parents of undergraduate students)
Grad Direct PLUS Loans

Study Abroad Information

A student’s enrolment in a programme of study abroad approved for credit by University College Cork is considered enrolment at UCC for the purpose of applying for assistance under the Title IV, HEA programmes. US Students should note, however, that there are limitations. (These limitations were modiﬁed as of 1 July 2021.) US students receiving Direct Loans or Direct PLUS loans can only go on study abroad on locations in the USA for no more than 25 percent of their programme of study and only to locations themselves eligible for the US Title IV aid programmes. They can go on study abroad at institutions outside the USA that are not themselves eligible for the US Title IV aid program for no more than 25 percent of their programme of study. They can only take up to 25 percent of their programme of study at an ineligible foreign institution with which UCC oﬀers a joint degree programme.

A list of eligible foreign schools can be found on the Participating Schools webpage.

More details on UCC’s policies for study abroad options including exchange programmes with partner institutions can be found on the Go Abroad with UCC webpage.

You must contact the International Oﬃce to ensure that your desired options are allowed for students receiving U.S. Federal Loans.

Direct Loans

These are ﬁxed-rate student loans from the US Department of Education for undergraduate and postgraduate students attending college at least half-time.

Direct Subsidized Loans

Direct Subsidized loans are federal loans based on ﬁnancial need as determined by the Department of Education regulations. Interest does not accrue on the loan while you are in school at least half- time, for the ﬁrst six months after you leave school (referred to as the grace period) and during any

future deferment periods. The federal government does not charge interest during these times. Direct Unsubsidized Loans
Direct Unsubsidized loans are federal loans that are not based on ﬁnancial need. Interest accrues from the time the loan is disbursed to the student. If you choose not to pay the interest while you are in school and during grace periods and deferment or forbearance periods, your interest will accrue (accumulate) and be capitalized (that is, your interest will be added to the principal amount of your loan).

Direct PLUS Loans

Direct PLUS loans are available from the US Department of Education and are not based on ﬁnancial need. The parents of an undergraduate dependent student (as deﬁned by the US Department of Education) are eligible for a Parent PLUS loan if they meet certain credit guidelines. Graduate students are eligible for a Graduate PLUS loan if they meet certain credit guidelines.

Private Loans

Eligible students at University College Cork may also apply for private loans. To apply for a private loan, you must be an American student enrolled in a degree-granting programme at University College Cork.
Private loans may be obtained from a bank/lender subject to the applicant’s credit rating and may often require a co- signer/guarantor. Private loans are usually oﬀered at commercial rates which may be less favourable than Federal Aid loan rates. Private loans also need to be certiﬁed by the educational institution. Students choose their private lender, and University College Cork does not recommend a particular lender. Some University College Cork students have worked with
Sallie Mae who oﬀers a Smart Option Student loan. Students may apply at Salliemae.com. Sallie Mae will then send a notiﬁcation to the school that there are student loans pending certiﬁcation.

10. Self-Certiﬁcation

The Federal Truth in Lending Act requires a lender to obtain a self-certiﬁcation form signed by the applicant before disbursing a private education loan. The university is required upon request to provide the form or the required information only for students admitted or enrolled at the university.

If you are availing of a Private Loan
Instructions: Submit the signed Self-Certiﬁcation form to your private lender.

11. What to Keep in Mind when Borrowing

US Federal loans are educational loans and Direct, Direct Plus and any Private loans are expressly for the purpose of covering the primary costs of educational study e.g., tuition, student accommodation and board, books/academic requisites, commuter travel etc. The primary costs of 8

education cannot exceed the student’s ‘Cost of Attendance (COA)’ e.g., the educational institute’s oﬃcial estimate of the student’s tuition and living costs for the academic year of study. Loans are not intended to cover other expenses that are not directly related to academic study. It is advisable that students plan a budget to make sure that they have enough funding to cover their period of study. Students should bear in mind that exchange rates ﬂuctuate so when the US Federal loans are disbursed, the student may receive less than they had initially planned. It is important to keep this in mind when planning on how much to borrow. Students should note that it is important to borrow what they need, but to always remember that they will have to repay it in the long term.

12. Loan Limits – How much you seek to borrow?

The factors that determine each student’s eligibility and amounts for each year

The types of loans they are eligible for (see loans set out above), and;
Their annual cost of attendance (COA) and;
If it is within the annual and aggregate limits

Direct Loan Annual Loan Limits

Dependent	Subsidized	Unsubsidized	Combined (Max)
First Year	$3,500	$2,000	$5,500
Second Year	$4,500	$2,000	$6,500
Third Year & Beyond	$5,500	$2,000	$7,500

Independent Undergraduates & Dependent Students whose Parents are ineligible for PLUS loan	Subsidized	Unsubsidized	Combined (Max)
First Year	$3,500	$6,000	$9,500
Second Year	$4,500	$6,000	$10,500
Third Year & Beyond	$5,500	$7,000	$12,500

Graduate & Professional Students	Subsidized	Unsubsidized
All years	$0,00	$20,500

PLUS Loans

A parent of a dependent undergraduate student can receive a Direct PLUS Loan for the remainder of their child’s college cost of attendance, as determined by University College Cork, not covered by other ﬁnancial aid such as Direct or private loans or scholarships.

A Graduate or Professional Student can receive a Direct PLUS loan for the remainder of their cost of attendance, as determined by University College Cork, not covered by other ﬁnancial aid, such as federal Direct Loans or private loans or scholarships.

Aggregate Loan Limits

Lifetime Loan Limits: The U.S. Government has set a lifetime Aggregate Loan Limit for all Subsidized and Unsubsidized Loans:

	Subsidized	Unsubsidized	Combined (Subsidized & Unsubsidized)	Notes
Dependent Undergraduates	$23,000	$8,000	$31,000	No morethan $23,000 of the combined amount may be in subsidized loans
Independent Undergraduates & Dependent Students whose Parents are ineligible for PLUS loan ;	$23,000	$34,500	$57,500	No more than $23,000 of the combined amount may be in subsidized loans
Graduate & Professional Students	$65,500 (Up to 06/30/2012)	$73,000	$138,500	No more than $65,500 of the combined amount may be in subsidized loans. The Graduate debt limit includes Subsidized and Unsubsidized

13. Cost of Attendance and Professional Judgment

UCC, in accordance with US Federal regulations, establishes a standard student budget annually for all aid recipients based on expected tuition costs, average housing costs, average book and supply expenses, and average transportation costs for commuting students within Cork. These costs are in line with the upper range of the expected costs for a single, full time student, living in Cork. See Appendix 9.

Students may request adjustments to their Cost of Attendance (“COA”) in certain circumstances. Students should be advised that supporting evidence

will be required and requests for additional funding are subject to approval by the UCC Federal Aid Administrator and are not guaranteed.

Students may request an adjustment to their COA based on special or unusual circumstances:

Special Circumstances refer to financial situations that justify an adjustment to a student’s cost of attendance (COA)
Unusual Circumstances refer to the conditions that warrant making a dependent student an independent student. Adjusting a student’s dependency status is based on a unique situation such as human trafficking, refugee or asylum status, parental abuse or abandonment, or incarceration, and may be referred to as a dependency override.

Requests for adjustments should be submitted with the original COA form submission, or emailed to the UCC US Federal Loans administrator, with the appropriate documentary evidence attached. Please see below for the types of evidence that may assist the UCC Federal Aid Administrator in reviewing your request, but students should be aware that further documentation may be required.

Requests will be reviewed by the UCC Federal Aid Administrator. A response will usually be issued by email within 14 days, however it may take longer to reach a decision if further documentary evidence is required. Therefore, it is advisable to contact the UCC Federal Aid Administrator as early as possible if you wish to discuss potential adjustments.

The UCC Federal Aid Administrator may make adjustments that are appropriate to each student’s situation with appropriate documentation, and decisions are made on a case by case basis. Whilst the outcome of a professional judgment decision may possess similarities to other professional judgment decisions reached by the UCC Federal Aid Administrator (in an attempt to ensure fairness), each professional judgment outcome will be individually assessed on the evidence provided by the student. The request for additional COA allowances and the submission of supporting evidence does not guarantee that any additional costs will be approved, only that the additional evidence and costs will be considered under the criteria for professional judgment set by the US Department of Education.

Special circumstances

The UCC Federal Aid Administrator will consider requests for the following costs to be included in an individual student’s COA. We strongly recommend, and in some cases require, that students seeking additional funding also investigate and apply for all other non-repayable forms of funding available to them for additional costs either through their college, department or the University before making a request for additional loan funding.

A professional judgment decision for special circumstances is specific to one academic year and therefore cannot be carried forward to the next year.

Childcare, medical, disability or other costs

Childcare for dependent children

Students may request adjustments for dependent childcare costs on their COA for a period up to 47 weeks of the year. Students can submit their request under the childcare, medical, disability or other costs, or by emailing the UCC Federal Aid Administrator if the COA has already been submitted.
An allowance is made for childcare at a rate determined annually based on the average cost drawn from a range of childcare providers within Cork. If a student’s costs are substantially higher than these limits, the UCC Federal Aid Administrator will request additional evidence of these costs and of the child’s requirements in order to reach a decision. In future years the student may be required to submit receipts from the previous year along with their expected costs for the current year.

Medical expenses

Students may request adjustments to their COA to cover additional expenses related to medical needs that are reasonably incurred and are not covered by other areas within the University, by the HSE, or by the student’s health insurance.

Adjustments can be requested under the childcare, medical, disability or other costs section of the COA, or by emailing the UCC Federal Aid Administrator if the COA has already been submitted. Students will be required to submit documentation showing the expected costs along with supporting evidence of their requirements such as a letter from a GP or specialist consultant. We may also request students’ permission to contact their college, department, and the University’s Disability Support Service (DSS) as applicable in order to obtain the necessary information and documentation to support the request.
In future years, students may be required to submit receipts from the previous year along with their expected costs for the current year.

Disability-related expenses

The COA may include an allowance for expenses associated with a student’s disability that are reasonably incurred and not provided for by other areas of the University. In order for requests to be considered, students must be registered with the University’s Disability Support Service (DSS).

The UCC Federal Aid Administrator will seek advice from DSS when a student requests a COA adjustment for disability-related expenses and may also liaise

with the student’s college and department as applicable in order to obtain the necessary information and documentation to support the request.

In future years, students may be required to submit receipts from the previous year along with their expected costs for the current year.

Other expenses

Students wishing to request an allowance on their COA for additional expenses that fall outside those listed above should email their request to the UCC Federal Aid Administrator. The UCC Federal Aid Administrator may consider other expenses on a case-by-case basis using the regulations for making professional judgment decisions that are set by the US Department of Education. As with all requests for additional expenses, students will need to provide evidence of the costs involved along with evidence showing that the costs are both reasonable and essential to the completion of their studies.
Depending on the situation, the UCC Federal Aid Administrator will advise students on the type of evidence that is required.

The UCC Federal Aid Administrator may subsequently request receipts for any purchases made for confirmation that loan funds have been used as intended.

Unusual circumstances

Students with unusual circumstances may request an adjustment to their dependency status to more accurately reflect their situation. This is more commonly known as a dependency override.

Dependency overrides will be considered on a case-by-case basis for students with unusual circumstances as defined by the US Department of Education (such as human trafficking, legally granted refugee or asylum status, parental abandonment or estrangement, or incarceration).

If a student wishes to request a dependency override, the UCC Federal Aid Administrator will require evidence to substantiate the request. Upon receipt of a request, the UCC Federal Aid Administrator will advise the student on the type of supporting evidence that may be required depending on the individual circumstances of the student.

Dependent students without parental support or whose parents refuse to support them are not eligible for a dependency override, but they may be able to receive an independent level Direct Unsubsidized Loan. Students in this situation should email the UCC Federal Aid Administrator for advice.

Appeals

If a student wishes to appeal the decision reached by the UCC US Federal Aid Administrator, they should in the first instance via email to the UCC Financial Aid Administrator within 10 days of the decision (of the UCC Financial Aid Administrator) being communicated to them. The written request for an appeal must clearly identify the grounds in writing. Their appeal will be reviewed formally by a person nominated by the Deputy President and Registrar who has absolute discretion to consider the Appeal in such a manner it deems appropriate to the circumstances of the case, having regard to fairness and due process. The decision arising from the Appeal is final and, under the regulations for professional judgment, cannot be appealed to the US Department of Education.

Refusing or Reducing a Loan

A Financial Aid Administrator may also use their discretion to refuse or reduce Direct Loan funds if they document the reason, make the determination on a case-by-case basis, notify the student in writing, and ensure the decision is not due to discrimination based on race, national origin, religion, sex, income, age, or disability.

Direct Loan Application Guidelines

Step 1: FAFSA Submission Summary

The student must log onto the U.S. Department of Education FAFSA (Free Application for Federal Student Aid) website and make an online application. The school code for University College Cork is GØ67Ø4.

Once the student has completed their online application, they will receive a FAFSA Submission Summary In the mail approximately two weeks after their application has been processed.

Step 2: Relevant Documentation

The following documentation is required by the Financial Aid Administrator (FAA) in University College Cork for review.

Institutional Student Information Record.
Oﬃcial Oﬀer Letter/Acceptance to University College Cork.
Scholarship Letter/Funding Letter if applicable.
Signed Master Promissory Note (MPN) for Subsidized/Unsubsidized loans via the studentaid.gov website.
Signed Master Promissory Note (MPN) and Credit Check by selecting ‘Complete PLUS Request Process’ via the studentaid.gov website for Parent PLUS or Graduate PLUS loans.
Completed Loan Entrance Counselling via the studentaid.gov website. Note ﬁrst-time borrowers are required to complete Entrance Counselling only. Entrance counselling is not required for parent Direct PLUS Loan borrowers.
Proof of compliance with Criteria A and B (as above).
Agreement and Acceptance Form to be completed by student (Appendix 10)

Step 3: Entrance Counselling

The purpose of loan entrance counselling is to help students to better understand their responsibilities in relation to their loans. It is a federal requirement.

All students attending the University College Cork and who wish to apply for US Federal loans must complete loan entrance counselling.
Loan Entrance Counselling can be completed at the studentaid.gov website. Step

4: Master Promissory Notes (MPN)

The Master Promissory Note (MPN) is a legal document in which the student promises to repay their loan(s) and any accrued interest and fees to the US Department of Education. It also explains the terms and conditions of their loan(s).

All MPNs issued in respect of foreign studies at a foreign school are valid for one year only. New MPNs are required to be completed for every year of study at a foreign school. The school code for University College Cork is GØ67Ø4.

One MPN is completed in respect of the Subsidized/Unsubsidized loans. A separate MPN is required should the student wish to take out a Graduate PLUS or Parent PLUS loan.

Master Promissory Notes can be completed online at the studentaid.gov website.

Step 5: PLUS Loans

Students must request all PLUS loans on the studentaid.gov website.

In applying for a PLUS loan a credit check will be carried out on the individual requesting the loan. No PLUS loan can be certiﬁed until this credit check is completed. The borrower must select Complete PLUS Request Process to initiate the credit check.

If the student or parent has an adverse credit history, they may still be eligible to receive a Direct PLUS loan. They can obtain an endorser who does not have an adverse credit history. An endorser is someone who agrees to repay the Direct PLUS loan if the student/parent is unable to repay the loan. In the case of a parent borrowing on behalf of their dependent student, the endorser cannot be the student on whose behalf the parent is obtaining the Direct PLUS loan.

Please note in the case of dependent undergraduate students, the Parent PLUS loan is borrowed in the name of the parent.

Step 6: Loan Entitlements

On receipt of the necessary documentation, students will be emailed with information on their Loan Award including the loan amounts that they are eligible to borrow. Students must complete the online Loan Amount Declaration form indicating the various loan amounts that they wish to borrow.

Students must notify the Financial Aid Administrator if they have been approved for a US Private Scholarship, any other US Scholarship, or a Scholarship from University College Cork. This may aﬀect the student’s borrowing limits.

Step 7: Loan Approval

All loans will be originated by the University College Cork with the US Department of Education.

For undergraduate students, the amount you can borrow is based on the Cost of Attendance for your programme of study minus Other Financial Aid (OFA) minus your Student Aid Index (SAI).

For postgraduate students, the amount you can borrow is based on the Cost of Attendance for your program of student minus Other Financial Aid (OFA).

Step 8: Origination Fees

There is an origination fee on all Direct Subsidized, Unsubsidized and PLUS Loans. The origination fee is a percentage of each loan amount. For Subsidized and Unsubsidized loans disbursed on or after October 1st, 2024, through 30th September 2025, the loan origination fee is 1.057%. The loan fee will be proportionately deducted from each loan disbursement. For PLUS loans disbursed on or after October 1st, 2024, through 30th September 2025, the loan origination fee is 4.228%. The fee will be proportionately deducted from each loan disbursement. These fees may be changed for subsequent years by the U.S. Government. Note, private loans do not incur an origination fee however if an origination fee were incurred this cannot be included in a cost of attendance budget.

Step 9: Disbursements

Loans will be disbursed in two payments to coincide with the start of each semester of study in September and January.

If you wish to decline, cancel, or reduce the amount of the student loan(s) you must notify the Financial Aid Administrator in writing, within 30 days of the date of your award notification. You will be given another opportunity to decline funds at the time that your student loans are disbursed. You should also notify the Financial Aid Administrator if you wish to apply to borrow additional student loan funding.

Excess funds (credit balance) beyond UCC fees will be disbursed to students by way of refund directly to their Irish bank account. Students are strongly encouraged to open bank accounts on campus.

It is important for students to note that they will not have immediate access to their loan funds when they arrive in Ireland. Students will need to bring suﬃcient sums of money to cover their ﬁrst 3 - 4 weeks of expense to allow for any potential payment delay.

Step 10: Payment of Tuition Fees

Students in receipt of US Federal Aid loans to fund their tuition are permitted to pay their tuition fees in two instalments, one in September and one in January to coincide with the Federal Aid disbursements. The loan funds are disbursed directly to University College Cork, the Fees Oﬃce deducts the necessary tuition fee instalment, and any excess funds (credit balance) will be

refunded directly to the students’ bank accounts. Any credit balance must be available to the student as soon as possible and no later than 14 days after the funds are posted against a student’s account. If the University College Cork is not able to disburse funds to the student’s bank account within 14 days, the credit balance will be returned to the US Department of Education, delaying availability to the student. Students should be aware that if there is any shortfall in the loan amount, they are liable to pay for the remainder of any university related fees due.

Step 11: Accommodation Costs

Students should note that on-campus accommodation costs are not deducted from their loans by the Fees Oﬃce.

Support for Students with Disabilities

UCC provides services to students with disabilities. Disability Support provides a conﬁdential, professional, and accessible service for students with disabilities or those requiring adjustments for other reasons. We have a team of Advisers who are available to help students ensure equal opportunity, access, and attainment for students within University College Cork. Details can be found on Disability Support webpage.

Satisfactory Academic Progress

Students who are in receipt of Direct Loan Federal Funds from the US Department of Education must comply with Satisfactory Academic Progress Regulations to maintain their eligibility to receive loan funds. Satisfactory Academic Progress means that students are required to maintain minimum grades and course completion to conﬁrm they are making satisfactory progression.

University College Cork will assess each student’s SAP at the end of each academic semester. Please see Appendix 1 – SAP (Satisfactory Academic Progress) Policy below.

Withdrawal and the Return of Federal Aid Loan Funds – R2T4 Policy

If the student withdraws or fails to attend their programme, they must inform the Financial Aid Administrator in University College Cork and the US Department of Education no later than 5 working days after withdrawal. Students who withdraw from their programme of study are required to inform University College Cork in writing, so they are advised to email the US federal Loan Administrator at sreo@ucc.ie if they decide to withdraw. Students should please note that failure to attend after enrolment is deemed to be a withdrawal. Students should note that when they withdraw, any disbursed unearned loan funds must be returned to the US Department of Education. Please see Appendix 2 – US Federal Loans: Return to Title IV (R2T4) Policy on page 17.

Exit Counselling

Students who withdraw from their course of study or fall below at least half-time study at any point during the current academic year will be required to complete Exit Counselling via the NSLDS website. The US Department of Education will also be notiﬁed.

Graduation

Exit Counselling

Federal regulations require that all Direct Loan borrowers who graduate or withdraw from their programme of study complete a Loan Exit Counselling Session. This session is designed to provide borrowers with essential information regarding their responsibilities as well as repayment information. Students can complete Exit Counselling on the studentaid.gov website by selecting ‘Exit Counselling’ in the ‘Tools and Resources’ section.

Student should receive repayment information from their loan servicer approximately 3 months after they leave school. If students do not receive this information, it is their responsibility to contact the US Department of Education or loan servicer before the end of their grace period to arrange for the repayment of the loan. It is important that students plan for the repayment of their loan.

Students will have the opportunity to estimate their monthly repayments as they process through the online counselling session.

Loan Repayment

Federal Aid loans are speciﬁcally to cover the cost of education. The primary cost of education is tuition followed by associated expenses. Once students are no longer enrolled at least half time in an eligible programme, they will receive a 6-month grace period on their Direct Subsidized and Unsubsidized Loans during which they are not required to make loan payments. Students must begin repayment at the end of their grace period. Students should note that the 6-month grace period commences from the date of programme completion as opposed to their
graduation date. Students must check with the US Department of Education for full details on the repayment of their loan.

Default

If a student defaults on their loan (fails to make repayments) and are delinquent for more than 270 days, a report is ﬁled by the U.S. Department of Education or their loan servicer to all national credit bureaus which may result in potential garnishment of wages, inability to secure other forms of credit which includes credit cards, mortgages, or other loans. Students will also remain ineligible for all other forms of ﬁnancial aid. It is important to note that defaulted loans are reported to the Internal Revenue Services and the US Department of Education may proceed with action to recover defaulted loans.

Student Responsibilities

Students must notify the US Department of Education of any changes in their status including enrolment, graduation, changes to their address, telephone number and email.
Students must notify University College Cork and the Financial Aid Administrator at UCC of any change to their semester dates, permanent correspondence address and telephone number.
Students must notify the US Department of Education if they fail to enrol at University College Cork.
Students must notify the University College Cork and the Financial Aid Administrator at UCC if they withdraw their Federal Aid application before the start of the semester or withdraw/take leave of absence from the UCC after enrolment.
Students must complete Exit Counselling once they graduate or withdraw from their course of study.
Students must maintain Satisfactory Academic Progress.

Misrepresentation

UCC does not engage in misrepresentation, which is prohibited by US Department of Education regulations.
Misrepresentation is deﬁned as a false, incorrect, or misleading statement made directly or indirectly to a student, prospective student, any member of the public, an accrediting agency, a government agency, or the Department.
A statement is any communication made in writing, visually, orally or through other means. This deﬁnition applies to statements made by an eligible institution, the institution’s representatives, or any ineligible institution, organization, or person with whom the eligible institution has an agreement to provide educational programmes or those that provide marketing, advertising, recruiting, or admissions services.
Substantial misrepresentation occurs when a misrepresentation upon which a person could reasonably be expected to rely causes harm. Substantial misrepresentations are prohibited in all forms, including those made in any advertising or promotional materials or in the marketing or sale of courses or programs of instruction oﬀered by the Institution. An institution, one of its representatives, or a related party engages in substantial misrepresentation when it does so about the nature of its educational program, its ﬁnancial charges, or the employability of its graduates.
If the U.S. Department of Education determines that an eligible Institution has engaged in substantial misrepresentation, it may impose sanctions against the institution.

Limitation of Liability for US Federal Loans Discontinuation Appendices

UCC participates in the US Federal Student Aid Program in accordance with regulations set by the US Department of Education. The availability of US Federal Loans is subject to policies and decisions made by the US Government and/or the US Department of Education.

UCC bears no liability for any modification, suspension, or discontinuation of the US Federal Loans provision arising from changes in US federal regulations, policies, or other governmental decisions. In the event of such a discontinuation, UCC will endeavour to provide guidance and support to affected students but shall not be responsible for any financial consequences incurred as a result.

UCC reserves the right to withdraw from participation in the US Federal Student Aid Programme at its sole discretion. In the event that UCC decides to cease participation, UCC bears no liability for any financial or other consequences incurred by students as a result of this decision. While UCC will make reasonable efforts to provide advance notice and guidance to affected students, it remains the responsibility of the student to secure alternative funding arrangements.

Contact for further information

Email sreo@ucc.ie

Appendix 1: Satisfactory Academic Progress Policy (SAP)

Satisfactory Academic Progress (SAP) is the term used to denote a student’s successful completion of coursework toward a degree award. The Federal Aid Administrator must monitor the progress of each student toward the completion of a degree to meet federal guidelines governing the administration of student ﬁnancial assistance. Students who fall behind in their coursework or fail to achieve minimum standards may lose their eligibility for all types of US Federal Aid. At UCC students must maintain the equivalent of a ‘C’ Grade Point Average in each Semester Period before loans are disbursed.

UCC does not operate a GPA system, it has a percentage system of grading. Our policies in relation to progression, as it is termed at UCC, are laid out in the Academic Programme Catalogue and the UCC Marks and Standards. Please note: the Marks & Standards (Pass and Progression rules) for First Year Undergraduate Students are contained in the Academic Programme Catalogue and in the UCC Marks & Standards publication for all other years.

Course Load

Students must be registered full-time to maintain loan eligibility. Please note that for immigration purposes, international students must maintain full-time status at the University College Cork.

Important: As per regulation #34 CFR 600.51(d), students taking online/distance education courses are not eligible to receive US Direct Loans at University College Cork.

Satisfactory Academic Progress (SAP) -- recipients of US Direct Loan Funds

The US government regulations (Satisfactory Academic Progress for Financial Aid Eligibility, Federal Regulation - 34 CFR 668.34) stipulate that students must maintain certain academic standards to remain eligible for all types of US Direct Loans.

The Satisfactory Academic Progress Policy (SAP) applies to all students applying for US Direct Loans under Title IV of the US Higher Education Act. These types of loans include Direct Loans (Subsidized and Unsubsidized), Direct Parent PLUS and Direct Graduate PLUS loans.

All students will have their academic progress reviewed at the end of each semester. Students who have not fulﬁlled the SAP requirements will not be eligible for US Direct Loan funds for the subsequent semester.

To maintain US Direct Loans SAP eligibility, students must fulﬁl these requirements: SAP components

Quantitative component (Time Based): students must ﬁnish their degree within 150% of the published length of degree completion time.
Qualitative component (Grade Based): Maintain the equivalent of a Grade C average. A student should pass the course/modules with a minimum of grade 40% to conﬁrm they are making satisfactory progression.

University College Cork will assess each student’s SAP at the end of each semester. The
University SAP Policy is in line with the University’s academic policy e.g., if the University allows you to progress then you will be typically allowed to continue to receive Federal Aid within the constraints of the SAP academic components above. For example, in compliance with the ‘Completion Rate’ component, a student must complete their studies within 150% of the programme length.

All periods of a student’s enrolment count when assessing SAP, even periods when the student did not receive any Federal Loan Funds.

Maximum Time Frame, Pace of Completion and Minimum Grades

Students must pass all credits attempted in each evaluation period to successfully progress to the next academic year of study. This will be checked at the end of each evaluation period (end of semester). This requirement applies to all students, regardless of programme.

A normal Undergraduate academic year of full-time study over two semesters is 60 ECTS credits. Students must accumulate 60 credits to complete the level of study. Students may repeat failed or absent modules at the next assessment opportunity to pass and progress to the next academic year. In most cases where assessment is by written examination, there is an option of a resit examination, normally held in August. Please check the published Book of Modules for supplemental assessment information.

Students must pass the academic year overall to be eligible to apply for US Federal funds for the following academic year.

A full time or part time undergraduate student is entitled to receive aid for 150% of the credits for the course in which they are enrolled. At each evaluation point, undergraduate students who have taken or will need to take more than 150% of the published length of degree completion time, as measured in credits, are not considered to have fulﬁlled SAP requirements and, therefore, become ineligible for US Direct Loans at University College Cork for that degree.
Normal pace of completion progression is 67% at a minimum on a cumulative basis.

Postgraduate, graduate research and professional students are required to complete their course of study within 150% of the standard timeframe for that programme. Students must pass each module and accumulate 180 credits to achieve their award. Undergraduate, Postgraduate, graduate research and professional students enrolled in programs of more than two years in length must at the end of two years have achieved academic standing that will allow for completion within the maximum timeframe.
Progression is measured at each evaluation point to determine if a student is on pace to complete their programme within the maximum timeframe.

100% Scheduled Limit _______________________	= 67% Pace Requirement
150% Maximum Time

Transfer credits that have been accepted by the University will be counted as both attempted and completed when measuring the quantitative SAP requirement (the 150% timeframe).

Students who withdraw from or fail to complete required courses or modules will have those courses or modules counted in the denominator in determining pace of progression. However, a student who is permitted to complete an incomplete course or retake a failed examination before the commencement of the following academic year, and who passes, will have that course or module counted as successfully completed in SAP calculations.

University College Cork operates a percentage system of grading. Our policies in relation to progression, as it is termed at UCC, are laid out in the the Academic Programme Catalogue and the UCC Marks & Standards . Please note: the Marks & Standards (Pass and Progression rules) for First Year Undergraduate Students are contained in the Academic Programme Catalogue and in the UCC Marks & Standards publication for all other years.

Students who are not meeting SAP requirements:

What happens	Student ﬁnancial aid status	What student needs to do
If your results drop below 40% at the speciﬁed time	All types of US Direct Loan denied	Students will be issued with a Financial Aid warning and will be permitted to receive ﬁnancial aid for the next semester of study. However, after one semester of warning, students who fail to return to good academic standing will be ineligible for ﬁnancial aid. A student may appeal if they have extenuating circumstances.
If you take more than 150% of the published length of time to ﬁnish your degree or it becomes apparent that you will not be able to ﬁnish your Degree within 150% of the published length of time.	Ineligible for all types of US Direct Loans	You must complete your studies without US Direct Loans unless you successfully appeal.

What happens

Student ﬁnancial aid status

What student needs to do

If your results drop below 40% at the speciﬁed time

All types of US Direct Loan denied

Students will be issued with a Financial Aid warning and will be permitted to receive ﬁnancial aid for the next semester of study.

However, after one semester of warning, students who fail to return to good academic standing will be ineligible for ﬁnancial aid. A student may appeal if they have extenuating circumstances.

If you take more than 150% of the published length of time to ﬁnish your degree or it becomes apparent that you will not be able to ﬁnish your Degree within 150% of the published length of time.

Ineligible for all types of US Direct Loans

You must complete your studies without US Direct Loans unless you successfully appeal.

SAP Warning

SAP is a measurement of (1) academic standing, (2) pace of completion. A student is not making Satisfactory Academic Progress if they are not meeting all measurements for each evaluation period.

Students who fail to meet academic standards following their most recent semester of study will be issued with a Financial Aid warning and will be permitted to receive ﬁnancial aid for the next semester of study. However, after one semester of warning, students who fail to return to good academic standing will be ineligible for ﬁnancial aid. A student who fails to meet SAP standards will be notiﬁed by email that they are ineligible for further disbursements of US student loans.

SAP Appeals

Students may appeal ineligibility by providing information on extenuating circumstances and indicating how these issues have been resolved for them to return to successful academic progress. In this event, extenuating circumstances must be serious in nature, such as illness or a death in the family, and documentary evidence must be provided. Frivolous or spurious reasons will not be considered and will result in denial of the appeal. Students must submit an appeal within 7 days of their notiﬁcation of ineligibility. The results of the appeal will be provided to the student within 14 days following its submission. The SAP Appeals Board is selected from a panel of senior administrative and academic staﬀ of University College Cork. Decisions of the SAP Appeals Board are ﬁnal. If a student is denied US Direct Loans after an appeal but in subsequent semesters meets SAP requirements, the student may again be eligible for US Direct Loans. Note, appeals are reviewed on a case-by-case basis. The Financial Aid Administrator will verify SAP requirements have been met prior to drawing down any US Direct Loans.

SAP Probation

If an appeal is granted, students may be placed on ﬁnancial aid probation for one payment period and asked to follow an academic plan that will lead to meeting minimum SAP requirements in the future. If students do not meet the terms of probation, eligibility for ﬁnancial aid will cease and all remaining aid will be cancelled. Students should note that subsequent appeals of the same nature are not permitted. Once a student loses eligibility due to SAP non-compliance, the only way to regain eligibility for ﬁnancial aid is to meet SAP requirements.

Appendix 2: US Federal Loans: Return to Title IV (R2T4) Policy

US federal aid regulations mandate a Return to Title IV Funds (R2T4) calculation when a student receiving Title IV ﬁnancial aid (US Direct Loans (subsidized and unsubsidized), Parent PLUS loans or Grad PLUS loans) withdraws from University College Cork during a payment period. If a student fails to attend University College Cork in the payment period, the student does not qualify for any loan amount and the full loan is cancelled and returned to the US Department of Education.

The R2T4 calculation may result in a reduction of the student’s US federal loan(s) if the student attended 60 percent or less of the semester. The R2T4 calculation is based on the following:

The number of days the student attended.
The number of days in the semester.
The institutional charges assessed.
The total amount of US Direct Loan aid awarded, accepted and/or disbursed.

This policy covers the following topics:

University College Cork’s procedure for withdrawing or taking leave of absence.
University College Cork’s fee refund policy.
Requirements regarding the treatment of Title IV funds when a student withdraws or takes leave of absence.

University College Cork: Withdrawal or Leave of Absence (LOA):

For the purpose of Title IV funding, approved LOA is only allowed if students can return at the point, they left oﬀ academically at a given payment period or period of enrolment. Otherwise, it is considered unscheduled leave and students must be withdrawn, in this case Return of Title IV funds will be performed for these students.

Students should follow the withdrawal or ‘leave of absence’ process as outlined below and consult with Student Records and Examinations Oﬃce. Students wishing to take leave of absence of a year or more from a programme of study are advised that they must obtain advance approval from the relevant College.
Applications to the relevant College for a leave of absence must be made within four working weeks of the formal start date of Semester 1. Applications will not be accepted after this time.
Medical students intending to take leave of absence of a year or more must make an application to the Dean of the School of Medicine and to the Deputy President and Registrar not later than March of the preceding academic year. Permission will only be granted for speciﬁc reasons which will be considered in each case by the School's Executive/Heads of Department.
Students funding their studies through US federal student loans are required to inform the Financial Aid Administrator of their withdrawal/leave of absence at the same time as notifying their department.
More details regarding UCC policies on student leave of absence can be found in the UCC Academic Programme Catalogue

Important Note

A Leave of Absence (LOA) should be only a temporary interruption to a student's programme of study. For the purposes of US Federal Aid, a Leave of Absence is the equivalent of a withdrawal from the University if it exceeds 180 days (6 months) in any 12-month period. The borrower will be considered as withdrawn from the University for loan repayment purposes if they fail to return within the 180-day timeframe and at that point, the university is required to calculate the amount of ﬁnancial aid the student earned and the amount of ﬁnancial aid that must be returned.

University College Cork Policy: Refunds of Fees

The amount of Title IV funds due for return as a result of a withdrawal is calculate independently of the tuition fee liability charged by the University. The general University refund policy is available on the Fees Refund Policy webpage.

Withdrawal and the Return of Federal Aid Loan Funds

Who to notify:

If you withdraw or fail to attend your programme, you MUST inform the Financial Aid Administrator in University College Cork no later than ﬁve working days after withdrawal. A student’s enrolment is certiﬁed via the National Student Loan Data System on a regular basis. Any changes to registration will be followed up on accordingly. Students who withdraw from their programme of study are required to inform the Federal Aid Administrator along with all other relevant parties in writing.
Failure to attend after enrolment is deemed to be a withdrawal.

Students are reminded that it is their responsibility to repay loan funds in accordance with the terms of the loans and conditions according to the promissory note.
If you withdraw from your course of study at any point during the current academic year, the US Department of Education will be notiﬁed, and you will be required to complete Exit Counselling via the studentaid.gov website.

Withdrawal before completion of 60% of programme of study:

US Department of Education regulations state that a school must return loan funds if a student has not completed a minimum of 60% of the payment/enrolment period as soon as possible but no later than 45 days after determining the student has withdrawn. If a student received more loan funding than was "earned," the excess funds must be returned by the school and/or the student. The amount of money to be returned is determined by a calculation that includes the number of school days completed less any unscheduled leave of ﬁve days or more divided by the total number of school days in the payment/enrolment period, based on the amount of institutional charges fees paid ("Return to Title IV" Calculation).

If you withdraw from University College Cork, you may be required to:

Repay the University any "unearned" US Direct Loan funds that the University returned on your behalf (as stipulated by US Department of Education regulations), and/or if the student did not receive all the funds that were earned, the student may be eligible for a post withdrawal disbursement.

Return of loan funds does not cancel your liability to the University College Cork for any tuition-fee balance outstanding on your account.

Example:

Student A borrows $10,000 which she puts towards her tuition fees. She withdraws from her course 45% of the way through the payment period. As a result:

45% of the loan is kept by the university as ‘‘earned’’.
55% of the loan must be returned to the USDE as ‘‘unearned’’.

Students who do not attend initial lectures are ineligible to receive any Title IV funds and all loan proceeds will be returned to the US Department of Education no later than 45 days from the date it was determined that the student withdrew. The student will be liable for any fees or outstanding balances owed to University College Cork.

Federal Loan Funds are returned in the following order:

Federal Direct Unsubsidized loans
Federal Direct Subsidized loans
Federal Parent PLUS and Grad PLUS loans

Withdrawal after completion of 60% of program of study:

Once the student has completed more than 60% of the payment period, all the loans that the student was scheduled to receive for that period are considered to have been earned and are not required to be returned to the US Department of Education.

If the student received (or the University received on the student’s behalf) less assistance than the amount earned, the student may be able to receive those additional funds as a post-withdrawal disbursement. The requirements for Title IV program funds when students withdraw are separate from University College Cork’s refund policy. Therefore, the student may still owe funds to University College Cork to cover unpaid institutional charges. University College Cork may attempt to collect from the student any Title IV program funds that the University is required to return to the US Department of Education.

Unoﬃcial withdrawals (No notiﬁcation)

An unoﬃcial withdrawal occurs when a student ceases to attend the University, but the University has not received notice of this from the student. College administrators are required to advise the Financial Aid Administrator of any unoﬃcial withdrawals of federal loan recipients and the date the withdrawal occurred within 14 days of the date of withdrawal. The withdrawal date for students who unoﬃcially withdraw will be the last date upon which the student’s attendance was recorded.
If you withdraw from your course before the end of the academic year, you will still have to pay any unpaid tuition fees.

Post-withdrawal Disbursements

University College Cork will provide written notiﬁcation to students within 30 days of determination of withdrawal, identifying type and amount of loan, and outlining options to accept or decline some or all funds. Obligations to repay any funds disbursed will be explained, students will be given a deadline to respond within at least 14 days. The school will receive conﬁrmation from the student or parent borrower prior to disbursement; this will be documented. In the case where this conﬁrmation is received after the deadline, the school may choose to accept the late response, but will not accept a response after 180 days after date of determination. If the R2T4 calculation results in a credit balance, the Credit Balance must be disbursed as soon as possible and no later than 14 days after the calculation of R2T4. Any post-withdrawal disbursement will be made as soon as possible but no later than 14 days after the conﬁrmation is received.

Appendix 3: Interest Rates

Interest Rates for Subsidized, Unsubsidized and PLUS Loans Eﬀective 1st July 2023

Loan Type	First Disbursed from 1st July 2023 through 30th June 2024	First Disbursed from 1st July 2022 through 30th June 2023
Direct Subsidized Loans (Undergraduate Students)	Fixed at 5.50%	Fixed at 4.99%
Direct Unsubsidized Loans (Undergraduate Students)	Fixed at 5.50%	Fixed at 4.99%
Direct Unsubsidized Loans (Graduate or Professional Students)	Fixed at 7.05%	Fixed at 6.54%
Direct PLUS Loans (Parents of Undergraduates and Graduate or Professional Students)	Fixed at 8.05%	Fixed at 7.54%

Note:

The interest rates for federal student loans are ﬁxed for the life of the loan as determined by federal law.

Origination Fees

Appendix 4: Direct Loan Annual Loan Limits 2024/2025*

Direct Loan Annual Loan Limits

Dependent	Subsidized	Unsubsidized	Combined (Max)
First Year	$3,500	$2,000	$5,500
Second Year	$4,500	$2,000	$6,500
Third Year & Beyond	$5,500	$2,000	$7,500

Independent Undergraduates & Dependent Students whose Parents are ineligible for PLUS loan	Subsidized	Unsubsidized	Combined (Max)
First Year	$3,500	$6,000	$9,500
Second Year	$4,500	$6,000	$10,500
Third Year & Beyond	$5,500	$7,000	$12,500

Graduate & Professional Students	Subsidized	Unsubsidized
All years	$0,00	$20,500

* https://studentaid.gov/understand-aid/types/loans/subsidized-unsubsidized

PLUS Loans

Appendix 5: Aggregate (Total) Loan Limits

	Subsidized	Unsubsidized	Combined (Subsidized & Unsubsidized)	Notes
Dependent Undergraduates	$23,000	$8,000	$31,000	No morethan $23,000 of the combined amount may be in subsidized loans
Independent Undergraduates & Dependent Students whose Parents are ineligible for PLUS loan	$23,000	$34,500	$57,500	No more than $23,000 of the combined amount may be in subsidized loans
Graduate & Professional Students	$65,500 (Up to 06/30/2012)	$73,000	$138,500	No more than $65,500 of the combined amount may be in subsidized loans. The Graduate debt limit includes Subsidized and Unsubsidized

Appendix 6: Required Documentation

Master Promissory Note (MPN)

Students must complete a Master Promissory Note (MPN) to apply for Direct Loan (Subsidized or Unsubsidized). The Master Promissory Note (MPN) is the student’s signed agreement to pay back the loan. To complete an MPN, students need to visit the studentaid.gov website and from the ‘Manage My Direct Loan’ section, select ‘Sign Master Promissory Note.’

From 1st July 2012, graduate and professional students are no longer eligible to receive subsidized loans. Graduate and professional students now qualify for up to $20,500 in unsubsidized loans each year.

Students should note that while a MPN is valid for 10 years within the US, a new MPN must be signed every year if the student decides to attend a foreign school.

Entrance Counselling

Students must complete ‘Entrance Counselling’ online. This online session will explain the rights and responsibilities of students regarding their Federal Aid loans. Students should complete ‘Entrance Counselling’ on the studentaid.gov website and from the ‘Manage My Direct Loan’ section, select ‘Entrance Counselling’. Students should note that there are several types of Entrance Counselling available when they click on the link. Students are advised to complete ‘DLP’ (Direct Loan PLUS) counselling as it covers both Direct Loans and Direct PLUS loans. Entrance counselling is not required for parent Direct PLUS Loan borrowers.

Direct PLUS/Private Loans

Students must request all PLUS loans on the studentaid.gov website.

In applying for a PLUS loan a credit check will be carried out on the individual requesting the loan. No PLUS loan can be certiﬁed until this credit check is completed. The student must select Complete PLUS Request Process to initiate the credit check.

Please note in the case of dependent undergraduate students, the Parent PLUS loan is borrowed in the name of the parent.

Private Student Loans

Eligible students at University College Cork may also apply for private loans. Independent Undergraduate students are not eligible for either a Parent PLUS loan (because they are not dependent) or a Direct PLUS loan (because they are not graduate students). In this case, a credit based Private loan may be an option. Private loans may be obtained from a bank/lender subject to the applicant’s credit rating and in the case of undergraduate students may often require a co- signer/guarantor. Private loans are usually oﬀered at commercial rates which may be less favourable than Federal Aid loan rates. Private loans also need to be certiﬁed by the educational institution. Students choose their private lender, and University College Cork does not recommend a particular lender. Students attending University College Cork have worked with Salle Mae who oﬀer a Smart Option Student loan. Students may apply at Salliemae.com. Sallie Mae will then send a notiﬁcation to the school that there are student loans pending certiﬁcation.

Self-certiﬁcation - Private loans

The Federal Truth in Lending Act requires a lender to obtain a self-certiﬁcation signed by the applicant before disbursing a private education loan. The university is required upon request to provide the form or the required information only for students admitted or enrolled at the university.

Instructions: Submit the signed Self-Certiﬁcation form to your private lender.

To apply for a private loan, you must be an American student enrolled in a degree-granting programme at University College Cork.

Code of Conduct for Education Loans

University College Cork prohibits a conﬂict of interest with the responsibilities of university staﬀ with respect to private education loans.

The following actions are prohibited for any member of university staﬀ with respect to private education loans:

Revenue-sharing arrangements with any lender.
Receiving gifts from a lender, a guarantor, or a loan servicer.
Contracting arrangements providing ﬁnancial beneﬁt from any lender or aﬃliate of a lender.
Directing borrowers to particular lenders or refusing or delaying loan certiﬁcations.
Oﬀers of funds for private loans.
Financial aid oﬃce staﬃng assistance.
Advisory board compensation.

Application Checklist

The following documentation is required as part of your application for US Federal Aid. Note, applicants are not required to forward items 1-7 from the list of documentation. Applicants will be provided with the relevant links to complete items 8-11 for submission.

FAFSA submission form.
Oﬃcial Oﬀer Letter/Acceptance to University College Cork.
Scholarship Letter/Funding Letter if applicable.
Copy of current passport.
Signed Master Promissory Note (MPN) for Subsidized/Unsubsidized loans via the studentaid.gov website.
Signed Master Promissory Note (MPN) and Results of Credit Check by selecting ‘Complete PLUS Request Process ‘via the studentaid.gov website for Parent PLUS or Graduate PLUS loans.
Completed Loan Entrance Counselling via the studentaid.gov website.
Signed Satisfactory Academic Progress Statement including UCC Criteria of Satisfactory Status as Regular Student.
Signed Satisfactory Academic Progress Report duly signed by the relevant Head of School/Programme Coordinator.
Signed Agreement and Acceptance Form (see Appendix 10 for example).
Signed Loan Amount Declaration Form including borrowing amounts

Appendix 7: Glossary of Terms

FAFSA	Free Application for Federal Student Aid.
ISAR	FAFSA Submission Summary – This report is generated when you complete your FAFSA online.
FSA Pin	Federal Student Aid Pin.
SAI	Student Aid Index - This amount is reported in the student’s ISAR, and it aﬀects how much they are eligible to borrow in Direct Subsidized loans. The SAI does not aﬀect the Direct Unsubsidized or Direct PLUS loans.
COA	Cost of Attendance - This is based on the student’s anticipated costs and deﬁnes the limit on how much they can borrow
OFA	Other Financial Aid – aid or assistance towards educational costs that is considered in a student’s eligibility.
MPN	Master Promissory Note Student signed agreement to pay back their loan.
SAP	Satisfactory Academic Progress.
Regular Student	A regular student is defined as student who is enrolled or accepted for enrollment at an institution for the purpose of obtaining a degree, certificate, or other recognized education credential offered by that institution. To be eligible for federal student aid, a student must generally be a regular student – see Criteria A above for UCC’s requirements in this regard.

Appendix 8: Arriving in Ireland & Loan Funds Disbursed

UCC arranges disbursements so that they coincide with the start of the academic semester (or the Orientation Week).

You will not have immediate access to your loan funds when you arrive in Ireland and UCC is not permitted to disburse funds earlier than the start of the academic year. You will need to prepare for this by ensuring you have access to sufficient funds to support you, initially, especially if your loan application was late. While we try our best to make the loan process as smooth as possible, sometimes delays and issues occur that are outside of our control.

Our Federal Aid Administrator administers the whole federal aid process; however, our involvement in the disbursement part of the process is forbidden by U.S. Department of Education regulations. The disbursement of financial aid is managed by our University’s Fee team, in UCC’s Finance Office. We can pass queries in relation to your disbursement onto colleagues in the Fee team if you are having any issues in relation to your disbursement. The Fee team will make all payments by electronic funds transfer, i.e. sending money from bank account to bank account, electronically.

Opening an Irish Bank Account

In order to receive your federal student loans (after tuition fees are deducted), you are strongly encouraged to open an Irish bank account on campus. Note: you are required to provide UCC Fees Office with details of your bank account to facilitate the loan drawdown and transfer. The Fees Office will contact you for the required details. Any queries relating to Fees should be addressed to Úna Barrett in the Fees office on ubarrett@ucc.ie.

To open an Irish bank account, you need an address in Ireland. You must also have completed your UCC registration and entered your term address in the MyStudentAdmin portal. You cannot open a bank account prior to your arrival in Ireland.

To open an Irish bank account

When opening a bank account at AIB or Bank of Ireland the following documents are required:

Valid Passport/National ID Card.
Certificate of Attendance confirming your Cork address.

Why an Irish bank account?
The federal loans are educational loans only. UCC needs to demonstrate to the US Department of Education that the loans are used to cover educational expenses

Appendix 9: Estimated Cost of Living 2025/2026

The following links will provide you with further information on tuition and accommodation expenses:

UCC Programme Fee Schedule
UCC Campus accommodation Rates
Oﬀ-Campus, own studio/apartment - €850 - €1,300 per month (approx.)

Living Expenses

Expense	Approximate cost per month
ELECTRICITY/GAS/BINS (Public Utilities)	€50
FOOD (including lunches)	€400
TRAVEL (Monthly)	€200
BOOKS AND MATERIALS (incl. photocopying & printing)	€150
CLOTHES/MEDICAL	€70
MOBILE PHONE	€30
SOCIAL LIFE/MISCELLANEOUS	€150

Approximate Cost of Living per month (without accommodation) - €1050

It is also important to keep in mind that when you ﬁrst arrive you may have one-oﬀ costs. The estimates above do not include the cost of ﬂights, registration with Immigration or insurance. You should also budget for any initial costs you are likely to incur (e.g., you might need to budget for short term accommodation upon arrival in Cork or make a deposit for accommodation which might be the equivalent of 4 weeks rent).

Appendix 10: UCC Student Federal Aid Agreement and Acceptance Form to be completed by student

Please read the entire UCC US Federal Aid Policy and, if you agree to adhere to same, together with all the below statements: sign and date this form. -

I acknowledge that I have read, understand and accept the 2025-2026 UCC US Federal Aid Policy detailing the rules and requirements for availing of S. Federal Student Loans at UCC.
I agree to adhere to the UCC US Federal Aid Policy, and I accept that non-adherence may result in my loan application not being supported and/or processed by
I understand that if I withdraw from UCC or do not attend the programme (as required), under federal financial aid guidelines, a refund calculation must be completed and all or a portion of funds disbursed to my student account may be returned to my lender or Department of Education unless on an approved Leave of Absence. I understand this may leave a balance due on my student account and I understand that I am fully responsible for the balance owed.
I acknowledge that this loan money is intended for educational purposes
I acknowledge that it is my responsibility to re-apply for financial aid every year for which I wish to obtain
I have read and understand the aggregates for loan amounts (annual and total aggregate) outlined in this document and acknowledge that it is my responsibility to adhere to these limits when applying for financial aid. In the event that the limits (either annual or total loan amount) is exceeded, I accept responsibility and liability for such a breach and agree to re-pay any such monies to the US Department of
I agree to abide by the requirements of receiving federal financial aid. I understand my financial obligations as outlined above. I agree to contact the US Federal Loan Administrator if I need clarification or additional information.
I have read and understand the Federal Aid Consumer Disclosures provided on UCC’s webpage; https://ucc.ie/en/student-records/change-record/us-federal-aid/
I accept, agree and understand that UCC bears no liability for any modification, suspension, or discontinuation of the US Federal Loans provision arising from changes in US federal regulations, policies, or other governmental decisions. I further understand that in the event of such a discontinuation, UCC will endeavor to provide guidance and support to affected students but shall not be responsible for any financial consequences incurred as a
I accept, agree and understand that UCC has the discretion to withdraw from the US Federal Loans Programme with the provision of reasonable notice to current students availing of a loan under that scheme. I further understand that in the event that UCC decides to cease participation, UCC bears no liability for any financial or other consequences incurred by students as a result of this decision. While UCC will make reasonable efforts to provide advance notice and guidance to affected students, it remains the responsibility of the student to secure alternative funding arrangements.

NAME IN BLOCK CAPITALS:

SIGNATURE: DATE:

Download PDF: UCC Student Federal Aid Agreement and Acceptance Form to be completed by Student

Relevant Documents and Links

Sallie Mae (oﬀers a Smart Option Student loan)
Private Education Loan Applicant Self-Certification (PDF)
U.S. Department of Education FAFSA

UCC Programme Fee Schedule
UCC Fees Refund Policy
UCC Fees Office queiries email: Una Barrett ubarrett@ucc.ie.

MyStudentAdmin portal UCC

US Federal Student Aid Policy

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