Receiving funds

Plymouth University does not authorise the disbursement of aid directly to the student. You should not expect to receive funds prior to arriving in the UK.

Disbursement of Direct Loans will be on two (2) or three (3) separate dates coinciding with the nature of the degree program you are undertaking. This is to allow the academic monitoring requirements mandated by the US Department of Education in the second and, if applicable, third payment periods.

Disbursement of Private Loans will be on two (2) occasions.

Disbursement of VA Educational Benefits will be on two (2) or three (3) occasions coinciding with the nature of the degree program you are undertaking. This is a requirement of the certification process for benefits mandated by the US Department of Veterans Affairs.

Please note that the disbursement date is the date that your financial aid is paid against outstanding charges on your student account at the University, and not the date that funds will be available to you. Any funds remaining after payment is made against your student account will be paid into your bank account. This must be a UK bank account and you must provide us with your UK bank account details at the earliest opportunity. 

We recommend that, on arrival in the UK - if not before - you make it a priority to open a UK bank account. Once you have the details of your bank account then please inform the University’s Student Funding Unit.

Please note that advertised disbursement dates are a guideline only. The University is unable to guarantee disbursement dates as it depends upon funds being made available by the lender/sponsor.

The 2016 / 2017 disbursement dates are:

• 26 September 2016
  
• 09 January 2017
  
• 24 April 2017
  

Application of funds

Funds will be sent to the University directly and converted from $USD into £GBP. The University will then pay allowable charges (which include tuition and fees; including accommodation if you contract with the University) against your student account. You will be notified by email when funds have been paid against your student account. A statement will also be issued to you explaining how your charges have been calculated and either:

• A request for the outstanding half or third (whichever is appropriate) of tuition/residence fees owed to the University is made, for payment by a determined date.

or

• Any remaining funds will be paid directly into your UK bank account in £GBP no later than 14 days after payment has been made against your student account.

In light of the above, it is important that you:

• Arrange to open a UK bank account either whilst you are still in the U.S. or at the earliest available opportunity upon entry to the UK. If you are a continuing student you must notify us of any changes to your UK bank account details. If you do not provide us with bank details then you will not receive your aid.

• Plan on having sufficient funds available for accommodation, books, supplies and any other personal expenses during the first four to six weeks of classes in light of the timeframes outlined above or in the event that there is some delay in your financial aid arriving from the U.S.