Direct Loan application process
The following information will assist you with the five-step application process, the disbursement timeline and exchange rate policy.
When to apply for Direct Loans
You must be accepted to an eligible programme at the University of Auckland (the University) before your financial aid application can be assessed.
- In October, we start processing Financial Aid applications from those students whose programmes start in February.
- In May, we start processing Financial Aid applications from those students whose programmes start in July.
It takes 10-15 business days to complete a financial aid application.
How to apply for Direct loans
Step One – Submit your financial aid application to the Financial Aid Coordinator at the University.
You must complete the following documents:
- From the US federal student aid website:
- Free Application for Student Aid (FAFSA) for the current Award Year to the US Department of Education (ED)
- A Direct PLUS loan request (if applicable)
- New Master Promissory Note (MPN) for Direct Subsidised and Unsubsidised Loans
- New Master Promissory Note (MPN) for Direct PLUS Loans (if applicable)
- New Entrance Counselling
Note: Entrance Counselling is required for all first time borrowers at the University.
Step Two – Receive your Award letter from the Financial Aid Coordinator.
Your financial aid application will be assessed by the Financial Aid Coordinator. If eligible, you will receive your Award letter by email detailing your Cost of Attendance, the types of Direct Loans and award amounts for which you are eligible.
Step Three – Direct Loan Origination
You must return your signed Award letter with the types of loans and amounts that you are requesting to the Financial Aid Coordinator for loan origination.
Step Four – Direct Loan Information letter for student visa application
You will receive your Direct Loan Information letter from the Financial Aid Coordinator to support your student visa application.
Step Five – Receive your Direct Loan funds
You will receive a minimum of two equal disbursements per year which coincide with the start of each semester.
The main disbursement dates in 2018 are:
6 March 2018 for Semester One
24 July 2018 for Semester Two
We do not expect the actual date to differ by more than two days.
You must submit a Refund Request to the Financial Aid Coordinator before the funds are disbursed.
After tuition and fees are paid in full, the excess balance will be refunded to your designated bank account within 14 days of when the funds are received by the University.
Note: The University does not charge a US Financial Aid application fee. A NZ$60.00 refund processing fee is waived for US Financial Aid recipients. An administrative fee of NZ$1,000.00 does not apply to refund of US Financial Aid.