US Loans

The RNCM is authorised to participate in the US Direct Loans scheme, as well as Private Loans from Alternative Education Providers.

We advise students to apply for Federal Loans before applying for Private Loans. Eligible students can borrow up to the ‘Cost of Attendance’, as agreed by the RNCM each year. For further information on interest rates and associated charges, visit the Federal Student Aid.

If you have any questions, please email Adam Croucher, Deputy Registrar and Head of Student Services, at [email protected].

The one Big Beautiful Bill Act

The One Big Beautiful Bill Act was signed into US law in July 2025, and will result in changes to federal student aid for those studying in the 2026/27 academic year onwards. The information below is subject to change based on any further updates from the US Department of Education Federal Student Aid website (new window).

The type of loan and the amount you may be able to borrow is dependent on when you enrolled in your programme at the RNCM, and whether you are a graduate or undergraduate student. Information will be provided on this page and will be included in your 2026/2027 financial aid package. We will also be updating the Types of Federal Loans and Amounts page in early 2026.

Available Loans

Students studying at ‘Foreign Schools’ are eligible to apply for Direct Loans (both subsidised and unsubsidised) and Plus Loans. PELL Grants and Perkins loans are not available.

Loan Origination

Your loan will be originated (approved) and relevant evidence sent to you for your information. You may also (on request) be provided with a letter confirming support for Visa purposes. Your loans will be disbursed upon your registration, and your first instalment will not be available until after you arrive in the UK, so you should make adequate financial provision in the short term.

Private Loans

If you have taken out a private loan, the RNCM will receive a co-payable cheque from your lender. Once you have enrolled, you will need to sign the cheque.

Loan Deferment/Consolidation

Providing you are studying at least half time you may be able to defer repayment on a previous 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 just 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.