Federal Aid Consumer Information
IMPORTANT NOTICE
From 1 January 2014, the University of Newcastle, Australia, will become a 'deferment only' institution for the purposes of the US Government student loan programs.
This means that:
Private loans (such as Sallie Mae) will remain available for eligible University of Newcastle students at all times. US Study Abroad students, whose loans are administered by their home institution, will not be affected at all by the change in 2014. The University of Newcastle will remain eligible to accept US Study Abroad students.
If you have any questions or concerns, please contact the University of Newcastle Financial Aid Office on int-finaid@newcastle.edu.au
- Who do I contact for information on student financial assistance and on general institutional issues and the University's campus security report?
- What need-based and non-need-based U.S. financial aid is available to students?
- What other need-based and non-need-based public, university, and private aid programs are available?
- How do students apply for aid and how is eligibility determined?
- What are the rights and responsibilities of students receiving aid?
- How and when will financial aid be calculated and disbursed?
- What do I need to know about the terms of, schedules for, and necessity of loan repayment and required loan exit counselling?
- What are the criteria for measuring satisfactory academic progress?
- How can a student who has failed to maintain satisfactory academic progress re-establish eligibility for U.S. financial aid?
- What are the requirements for the return of Title IV funds when a student withdraws from university?
- What is the University of Newcastle's Refund Policy?
- What are the terms and conditions under which students receiving U.S. education loans may obtain deferments while serving:
a. in the Peace Corps;
b. under the Domestic Volunteer Service Act; and
c. as a volunteer for a tax-exempt organisation of demonstrated effectiveness in the field of community service. - Where can I find information about campus security?
1. Who do I contact for information on U.S. student financial assistance and on general institutional issues and the University's campus security report?
The contact for Federal Aid student financial assistance at the University of Newcastle is:
Jeremy KirbyManager, Business Operations and Strategic Development
International Office
Room HA39, Hunter Building
University of Newcastle
Callaghan NSW 2308
Australia
International Telephone +61 2 4921 6258
International Facsimile +61 2 4921 7016
Email: int-finaid@newcastle.edu.au or international-support@newcastle.edu.au
2. What need-based and non-need-based U.S. financial aid is available to students?
United States students at the University of Newcastle can apply for Subsidised and Unsubsidised Direct Stafford Loans. Graduate students and parents of dependent undergraduate students can apply for PLUS Loans. For detailed information about these loans, go to http://federalstudentaid.ed.gov/.
3.What other need-based and non-need-based public, university, and private aid programs are available?
The Financial Aid Administrator can certify private loans for eligible students if your Stafford or PLUS loans do not cover your full Cost of Attendance.
The University's Scholarships website has information about scholarships available for study at the University of Newcastle, but please note that, apart from a small number of scholarships for postgraduate research, these are mainly only available to Australian citizens or permanent residents. Information on short-term emergency loans can be found at the University's Financial Assistance website.
4. How do students apply for aid and how is eligibility determined?
You can apply for your Direct Loan at www.studentloans.gov
- FAFSA completed
- SAR submitted
- MPN(s) submitted
- Entrance Counselling completed, results page printed and signed by the student and submitted
Submit all forms to the International Office via email:
int-finaid@newcastle.edu.au or international-support@newcastle.edu.au
Your first step is to complete a Free Application for Federal School Aid (FAFSA). You will need the University of Newcastle's School Code, which is G26232.
If you are beginning a program between July 1, 2011 and June 30, 2012 you will need to complete the 2011-2012 FAFSA.
After you have submitted your FAFSA, you will receive a Student Aid Report (SAR). Your eligibility for aid is based on the results from the FAFSA, your year in school, and the Cost of Attendance as determined by the University of Newcastle. The Cost of Attendance includes tuition, books, overseas health coverage, transportation and living expenses.
The university will use the information on your SAR and collected documents to assess your eligibility and determine the amounts of loans you can apply for.
The University will use the information on your SAR and collected documents to assess your eligibility and determine the amounts of loans you can apply for.
In order to receive federal Stafford Direct loans, you will need to do the Stafford Entrance Counselling at www.studentloans.gov. Confirmation that you have completed this counselling will be sent to the University of Newcastle. For further information on Entrance Counselling please refer to the Entrance Counselling Guide and GradPlus Entrance Counselling Guide.
Download and complete a Master Promissory Note. Send your completed MPN to the university. We will determine your eligibility for aid, calculate the value of the loans you can apply for, and send you a Student Loan Application Form. When you receive this, review the amounts offered, select the amounts you want to borrow, sign the declarations, and return it to the university. When we receive your signed Student Loan Application Form we will send School Certification to your Guarantor, who can then do background checks and, if the loans are approved, arrange for the money to be disbursed. Upon approval, the guarantor will send you a disclosure statement about the amounts and terms of your loans.
For additional information on how eligibility is determined, go to Stafford Loans on the U.S. Department of Education's Federal Aid website.
5. What are the rights and responsibilities of students receiving aid?
The Borrower's Rights and Responsibilities Statement, which you should receive with your MPN (Master Promissory Note), provides additional information about the terms and conditions of your loan. It is important that you read and understand this Statement. If you do not have a copy of the Statement, please ask the Financial Aid staff at the University to provide you with one.
Your responsibilities:
- Do not borrow more money than you think you can repay. Going into default has serious consequences
- You must repay your loan. When you signed the MPN you agreed to the repayment terms
- You must make your payments in full even if you do not receive a billing notice
- If you have applied for Deferment, Forbearance or Discharge approval, you must continue to make payments until you receive notification that your request has been approved
- You must notify your provider when you graduate; withdraw; drop below half-time status; change your name, address or social security number; or transfer to another educational institution
- You must receive Entrance and Exit Counselling.
Your rights:
1. Before your first loan disbursement, you must receive the following information from your university or lender:
- the full amount of the loan and the interest rate
- the date you must start repayment
- a complete list of any loan fees or charges you must pay, and information on how these are collected
- information about the yearly and total amounts you can borrow
- information about the maximum repayment periods and the minimum payment amount
- an explanation of default and its consequences
- an explanation of available options for consolidating your loans and a statement that you can prepay your loan(s) without penalty at any time
- a current description of your loans, including average anticipated monthly payments
- the amount of your total debt (principal and estimated interest), your interest rate, and the total interest charges on your loan
- if you have FFEL (Federal) Stafford Loans, the name of the lender or agency that holds your loans, where to send your payments, and where to write or call if you have questions
- an explanation of the fees you might be charged during the repayment period, such as late charges and collection or litigation costs if you're delinquent or in default
- a reminder of available options for loan consolidation and a reminder that you can prepay your loan without penalty at any time
- a description of applicable deferment, forbearance, and discharge (cancellation) provisions
- repayment options and advice about debt management that will help you in making your payments
- notification that you must provide your expected permanent address and the name and address of your expected employer
- notification that you must also provide any corrections to your university's records concerning your name, Social Security number, references, and driver's licence number (if you have one)
For further information on Exit Counselling, please refer to the Exit Counselling Guide.
3. Grace Period
- You have the right to a grace period before your repayment period begins. (Parents do not receive a grace period for a PLUS Loan). Your grace period will be six or nine months depending on the type of loan you have.
- Your university or lender, as appropriate, must give you a loan repayment schedule that states when your first payment is due, the number and frequency of payments, and the amount of each payment.
- If you or your parents borrow under the FFEL Program, you (or your parents, for a PLUS Loan) must be notified when the loan is sold if the sale results in making payments to a new lender or agency. You must be given the identity of the new lender or agency holding the loan, the address to which you must make payments, and the telephone numbers of both the old and new lender or agency.
For more information, go to Information for Borrowers on the U.S. Department of Education's Federal Aid website.
6. How and when will financial aid be calculated and disbursed?
The maximum financial aid a student could theoretically receive is the total of their Cost of Attendance (COA). Your COA is calculated by the University of Newcastle, and is based on your program fees and eligible living expenses.
Your eligibility for Subsidized Stafford funding is calculated by subtracting your Expected Family Contribution (EFC) (the amount of money your SAR shows your family can be expected to pay) and your Estimated Financial Assistance (EFA) (the total of all other loans) from your COA. There are annual and aggregate limits to how much Subsidized Stafford funding you can receive.
Your eligibility for Unsubsidized Stafford funding is calculated by subtracting your EFA from your COA. There are annual and aggregate limits to how much total Stafford funding you can receive.
For more information about how your financial aid will be calculated, access the Information on Stafford Loans on the U.S. Department of Education's Federal Aid website.
Your financial aid cheques will usually be mailed to the university. There will usually be one payment at the start of each semester or trimester of enrolment.
7. What do I need to know about the terms of, schedules for, and necessity of loan repayment and required loan exit counselling?
After you graduate, you have a six-month grace period before you must begin repayment. For PLUS loans there is no grace period, and repayment must generally begin within 60 days of the date the loan was fully disbursed. The amount you must repay will depend on the repayment option you choose, how much you borrowed, and the interest that has accumulated on your debt.
Your loan must be repaid, even if you do not complete your studies or cannot find a job, and the consequences of defaulting on your loan are serious. On the other hand, paying off your loan responsibly will help you establish a good credit rating, as your student loan account balance and status is reported to national credit bureaus on a regular basis. You may pay off some or all of your loan early with no penalty.
If you are having difficulty making your payments, you can apply for deferments or forbearance. If you do so, you must continue paying your loan until you receive notification that your request has been approved.
You should read, and keep copies of, all loan documents and letters. Remember, though, that repayment notices are only reminders, and you must make payments even if you don't receive reminders.
You must keep the loan holder informed of a change in your name, address, telephone number, Social Security Number, or enrolment status.
You will also need to undergo exit counselling. The Financial Aid Officer will contact you around a month before your expected graduation date to arrange exit counselling prior to your departure from the University. You will also be required to complete exit counselling through www.nslds.ed.gov/nslds_SA/.
For more information, access What you need to know about repaying student loans on the Department of Education's Federal Aid website.
8. What are the criteria for measuring satisfactory academic progress?
In order to remain eligible for Federal Aid, all students must meet the Satisfactory Academic Progress (SAP) requirements. These are outlined in the SAP Policy.
9. How can a student who has failed to maintain satisfactory academic progress re-establish eligibility for U.S. financial aid?
The procedures for re-establishing eligibility for U.S. financial aid are outlined in the SAP Policy.
10. What are the requirements for the return of Title IV funds when a student withdraws from university?
If you withdraw from your program, you may need to return all or part of your financial aid. For more information, please see Withdrawing From Your Program.
11. What is the University of Newcastle's Refund Policy?
As an International Student, you are bound by the University's Refund Policy. Please note that if you withdraw from a course or program, your eligibility for refunds or liability for tuition and other payments to the University of Newcastle is determined by the University's refund policy, and is separate from your obligation to repay your financial aid.
12. What are the terms and conditions under which students receiving U.S. education loans may obtain deferments while serving:
a. in the Peace Corps;
b. under the Domestic Volunteer Service Act; and
c. as a volunteer for a tax-exempt organisation of demonstrated effectiveness in the field of community service?
Students receiving U.S. education loans may be eligible for deferments in certain circumstances. For more information, access the Deferment Forms on the Department of Education's Federal Aid website.
13. Where can I find information about campus security?
Information about campus security can be found on the University's Security website.