(US) Student Finance Administrator
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If you are a postgraduate/professional student or an undergraduate student, you will need to complete the Free Application for Federal Student Aid (FAFSA) if you are planning to fund your education at Lund University through Direct Loans. We will use the information from your FAFSA to assist in determining your eligibility for a Direct Loan.
In addition to completing a FAFSA, you will need to have been admitted to a programme leading to a degree (or otherwise eligible programme) at Lund University on at least a half-time basis and meet other eligibility requirements such as maintaining Satisfactory Academic Progress (SAP) (Pdf 1560kb) and being within the borrowing limits for Direct Subsidised Loans and Direct Unsubsidised Loans.
After we have determined your eligibility for a Direct Subsidised Loan and/or a Direct Unsubsidised Loan, we will notify you of the loans and amounts for which you are eligible in a letter called an Award Letter. This letter will be sent to the email address that you have used in your FAFSA. Depending on your status, we may also include information about a Direct PLUS Loan award for which you or your parent may be eligible (if you are a graduate/professional student, you may be eligible for a Direct PLUS Loan; if you are a dependent undergraduate student, your parent may be eligible for a Direct PLUS Loan).
If you already have FFEL Program loans and will now be receiving Direct Loans, consolidating your FFEL and Direct Loan Program loans together into a Direct Consolidation Loan may make loan repayment easier. If you consolidate, you will have a single monthly payment. Consolidating your FFEL Program loans into a Direct Consolidation Loan may also allow you to take advantage of certain benefits that are offered only in the Direct Loan Program, such as Public Service Loan Forgiveness and the Income Contingent Repayment Plan. Learn more about when you may consolidate, the pros and cons of doing so, and the application process or call 800/557-7392 (TDD/TTY: 800/557-7395).
US Federal law specifies how Lund University must determine the amount of Title IV programme assistance (Stafford Loans) that students earn if they withdraw from university. The Student Finance Administrator is responsible for calculating R2T4 and uses worksheets and software provided by the US Department of Education to calculate the R2T4 funds. All funds must be returned to the lender within 45 days of the date of when Lund University determined that a student withdrew. For more information about your Title IV programme funds, or if you have questions, students can call the Federal Student Aid Information Center.
In order to calculate return of Title IV student aid, the Student Finance Administrator uses a formula to calculate the percentage of the payment period which the student has completed. The payment period is the semester for which the loan was certified. If a student completes 45% of the payment period or period of enrolment, the student has earned 45% of the funds they were originally scheduled to receive. If a student has completed more than 60% of the payment period or the period of enrolment, the student is eligible to keep all of the funds. If a student has not received all funds when the student withdraws, they may choose to decline the rest of the loan funds so that additional debt is not incurred.
Lund University is eligible to handle United States Department of Veterans Affairs education benefits.