International student financial assistance

Useful links

US financial aid

US Federal Aid

Flinders University School ID: 011091(00)

Direct Lending Code: G11091

Eligibility criteria

enrolled at least half time (typically 9 units minimum per semester)
are making satisfactory progress
*are not enrolled in an online or distance education offering of the course
*are not enrolled in a course which has any online topics which students can enrol in (this applies even to courses offered on campus)
are not in default on a previous grant or loan

The following courses are eligible for US federal aid:

Bachelor degrees (including Honours)
Master degrees
PhDs

Please note that students enrolled in a Nursing course or undertaking nursing topics are not eligible for US Federal Aid.

Flinders University is authorised to offer US Federal Aid to students enrolling in the Doctor of Medicine. Students must have sat the MCAT (Medical College Admission Test) and provide the results to Flinders University if they wish to receive Federal Aid for the Doctor of Medicine.

Approved campuses

The following campuses are approved for federal aid:

Bedford Park
Darwin
Tonsley

*Online topics deem students ineligible for federal aid

Students in receipt of federal loans at foreign schools may not enrol in topics that are delivered online, or enrol in courses where you can opt to study some topics online. Enrolment in a topic or course that contains online delivery as the only method of delivery will result in you being ineligible for federal loans for the remainder of your course. Homework and assignment submission is not considered an online component for this purpose.

A bill has been introduced in the US Senate to permanently change the prohibition of receiving Federal Student Aid for courses taught “wholly or in part through telecommunications”. The Providing Distance Education for Foreign Institutions Act will require students to be physically present at a foreign campus but will allow them to enrol in up to 12.5% of their degree in courses taught online or having online components. If this bill is passed, the rules for students studying online topics will be relaxed, but at this stage, it is uncertain if or when this bill may be passed.

Students should contact Student Finance and Scholarships well in advance to check whether their course will qualify for Federal Aid.

If you are not eligible for US Federal Aid, we may be able to facilitate private loans through Sallie Mae instead.

Loans available

The Direct Loan Program offers the following loans to Flinders University students:

Subsidized (Undergraduate students only)	Subsidized Loans are awarded to students based on financial need as determined by the US Department of Education. The US federal government will pay the interest on your loan while you are enrolled in university and during authorised periods of deferment.
Unsubsidized	Unsubsidized Loans are awarded to students regardless of financial need. Unlike a Subsidized Loan, interest accrues from the day the Unsubsidized Loan is disbursed until it is paid in full. While you are studying, you can choose to pay the interest or allow it to accrue and be capitalised (that is, added to the principal amount of your loan). Capitalising the interest will increase the amount you have to repay.
PLUS Loans (Parent Loan for Undergraduate Students)	Parents can borrow a PLUS Loan to help pay your education expenses if you are a dependent undergraduate student enrolled at least half time. Parents must pass a credit check or have somebody else, who is able to pass the credit check, agree to endorse the loan. Interest is charged on the loan from the date of disbursement until the loan is fully repaid. For PLUS Loans that are first disbursed on or after 1 July 2008, the borrower has the option of beginning repayments either 60 days after the loan is fully dispersed or waiting until 6 months after the student ceases to be enrolled on at least a half time basis.
PLUS Loans for Graduate Degree Students	Graduate degree students are eligible to borrow under the PLUS Loan program. You must have applied for the maximum annual Subsidized and Unsubsidized Direct Loans before applying for a Graduate PLUS. Repayment begins within 60 days after the loan has been fully disbursed.

Interest rates

To provide relief to student loan borrowers during the COVID-19 emergency, interest is being temporarily set at 0% on federal student loans. In addition, federal student loan borrowers were automatically placed in an administrative forbearance, which allows you to temporarily stop making your monthly loan payments. This 0% interest and suspension of payments will last from March 13, 2020, through at least Sept. 30, 2021, but you can still make payments if you choose.

The following tables indicate the prevailing interest rates when the COVID-19 relief package ceases.

Loans first disbursed on or after 1 July 2022 and before 1 July 2023 will have the following fixed-loan interest rates:

Direct Subsidized Loan (Undergraduate students)	4.99%
Direct Unsubsidized Loan (Undergraduate)	4.99%
Direct Unsubsidized Loan (Graduate students)	6.54%
Direct PLUS Loan (Parents and Graduate students)	7.54%

Loans first disbursed on or after 1 July 2021 and before 1 July 2022 will have the following fixed-loan interest rates:

Direct Subsidized Loan (Undergraduate students)	3.73%
Direct Unsubsidized Loan (Undergraduate)	3.73%
Direct Unsubsidized Loan (Graduate students)	5.28%
Direct PLUS Loan (Parents and Graduate students)	6.28%

For further information on federal aid interest rates, including historical rates, visit the Federal Student Aid website.

Loan fees

Federal student loans first disbursed on or after 1 October 2019 (and before 1 October 2020) are:

1.057% for Direct Subsidized Loans and Direct Unsubsidized Loans
4.228% for Direct PLUS Loans

Federal student loans first disbursed on or after 1 October 2018 (and before 1 October 2019) are:

1.059% for Direct Subsidized Loans and Direct Unsubsidized Loans
4.236% for Direct PLUS Loans

For further information on Federal Aid loan fees, including historical rates, visit the Federal Student Aid website.

Aggregate limits

The maximum limits of Direct Loans effective 1 July 2008 are as follows (all amounts in US dollars):

	Subsidized Amount ($US)	Unsubsidized Amount ($US)
Dependent Undergraduate Students
1st Year	$3,500	$2,000
2nd Year	$4,500	$2,000
3rd Year	$5,500	$2,000
Independent Undergraduate Students
1st Year	$3,500	$6,000
2nd Year	$4,500	$6,000
3rd Year	$5,500	$7,000
Graduate Students
	0	$20,500

Maximum Direct Loan amounts allowed at graduation
Dependent Undergraduate Students	$31,000
Independent Undergraduate Students	$57,500
Postgraduate/Professional Students	$138,500

Deciding how much to borrow

The amount you will be able to borrow will depend on:

Your cost of attendance as determined by the University - The University will prepare a Cost of Attendance (CoA) for you, using the federal guidelines. The CoA includes your tuition fees, living allowance and overseas health cover. An estimated CoA can be issued to you before you apply for your loan. To request your CoA please submit an online support request via Ask Flinders (prospective students can e-mail fees@flinders.edu.au).
Your Expected Family Contribution (EFC) - will be determined by the US Department of Education. When the university receives notification of this figure via the Student Aid Report it will be deducted from the amount of Subsidized Loan that undergraduate students can borrow. Unsubsidized Loans and PLUS Loans can be used to make up the difference, where required, up to the CoA. Postgraduate student loans are not affected by the EFC.
Whether you are a dependent/independent undergraduate student or graduate student - if you are applying for a Direct Loan please refer to the table above for the loan amounts you can borrow.
What type of loan you are applying for - if you are applying for a Direct Loan you can only borrow within the amounts specified in the table above. However, you may be eligible for a Grad PLUS Loan or a Private loan to the full amount of your Cost of Attendance (CoA).

Cost of attendance

Your Cost of Attendance (CoA) is an estimate of the costs you will incur during an academic year. The CoA will be issued to you with your Flinders University financial aid award offer letter; the CoA specifies the amount that you may borrow.

The following costs are included in the CoA:

Expenses	Rate of calculation
Tuition fees	Annual rate for the course
Living allowance	$20,000 per annum based on a standard 9 month academic year. A higher allowance is available for some courses with longer academic years, eg PhD, Medicine. This covers accommodation, board, personal expenses, transportation, books, supplies.
Overseas student health cover (OSHC)	Single OSHC for the length of the course
Flights	$2,000 for one return flight for each 12 month period

Variations to your COA

The University may re-calculate and reissue a Coast of Attendance in the following circumstances:

On your request, and where there has been a significant change to the exchange rate between the date that your original COA was issued and your next disbursement. A variation of 15% is considered to be significant.
If the original COA was prepared more than four months prior to the first loan disbursement. In this instance the revised COA will be updated with the current exchange rate.
If your enrolment changes, prior to your final loan disbursement, and results in a change to your tuition commitment to the University. This may include:
- An enrolment load increase.
- An enrolment load decrease.
- An approved fee liability reduction as a result of a remissions, sponsorship or fee waiver.

Exchange rate

Your Cost of Attendance (CoA) is calculated in Australian Dollars (AUD) and then converted to US Dollars (USD), using the exchange rate applicable as at the date the CoA is prepared.

Loan payments are disbursed in two instalments, normally this is one payment in Semester 1 and one payment in Semester 2. As exchange rates fluctuate the actual amount you receive in AUD may vary from the amount that was calculated on your CoA. Please note that it is the borrower’s responsibility to understand and accept this risk of the varying exchange rates. A revised CoA will not be issued based on variations to the exchange rate, unless there is a variation of at least 15% in the exchange applicable to the loan period.

How to apply

If you have already received and accepted your offer into your course, visit MyFlinders to enrol into your topics.

Once you have enrolled into your course, follow these steps to apply for your loan:

Complete the Free Application for Federal Student Aid (FAFSA). The school code for Flinders University is 011091, on the FAFSA the '0' is replaced with a 'G', so the code you will need to enter on the application is G11091. If you do not enter the school code, Flinders University will not be notified.
On completion of the application you will be able to view and print your Student Aid Report (SAR). The SAR summarises all the information submitted on your FAFSA and usually contains your Expected Family Contribution.
E-mail fees@flinders.edu.au and request a Cost of Attendance.
You must complete the entrance counselling before applying for financial aid. You can do this on-line via the StudentAid website. Flinders University will be able to check that this has been completed before originating your loans.
Complete your Master Promissory Note (MPN), via the StudentAid website.

Satisfactory academic progress

This policy applies to current and prospective students of Flinders University applying for or receiving US Federal Aid (Direct Loan Subsidized, Direct Loan Unsubsidized and Direct Loan PLUS) and is in addition to the Student Progress Policy and the Higher Degrees by Research policy and HDR Progression procedures.

This evaluation process will consider the student's progress under the following categories:

a. Academic standing
b. Maximum time-frame

Full details on Satisfactory Academic Progress policy can be found below.

Satisfactory Academic Progress Policy

US Constitution Day

Constitution Day commemorates the formation and signing of the US Constitution on 17 September 1787, recognising all who are born in the United States, or by naturalisation, have become citizens.

US citizens are encouraged to celebrate this day each year. Information regarding celebrations and activities can be found at The National Archives.

Cohort default rate

The US Department of Education calculates a cohort default rate (CDR) annually to determine the percentage of Federal Loan borrowers at each university who default on their loan repayments.

The official 3-year CDR for Flinders University for the 2019 fiscal year is 7.6%.

Completing or exiting your studies

Before you graduate, drop below half-time study or leave Flinders University you must complete Exit Counselling. The Exit Counselling session provides important information regarding your rights and obligations under the Direct Loans program. It includes repayment options including consolidation, when repayment begins, solutions to repayment problems, implications on defaulting on a loan and estimating your budget.

Medical School Consumer Information

OPEID	01109100
Name of medical program	Doctor of Medicine - MD
Length of medical program	4 Years
Most recently completed calendar year	2020
Number of U.S. students completing medical program on-time in the most recently completed calendar year	1
Number of U.S. students completing medical program in the most recently completed calendar year	1
On-time completion rate for U.S. students completing the medical program in the most recently completed calendar year	100%
Median Title IV loan debt incurred by U.S. students who completed the medical program in the most recently completed calendar year	$204,691
Median private education loan debt incurred by U.S. students who completed the medical program in the most recently completed calendar year	$0
Median institutional education loan debt incurred by U.S. students who completed the medical program in the most recently completed calendar year	$182,000
Median combined educational loan debt incurred by U.S. students who completed the medical program in the most recently completed calendar year	$204,691
Mean Title IV loan debt incurred by U.S. students who completed the medical program in the most recently completed calendar year	$204,691
Mean private education loan debt incurred by U.S. students who completed the medical program in the most recently completed calendar year	$0
Mean institutional education loan debt incurred by U.S. students who completed the medical program in the most recently completed calendar year	$182,000
Mean combined educational loan debt incurred by U.S. students who completed the medical program in the most recently completed calendar year	$204,691

Other aid

Private funds

If you require financial aid not covered by government schemes, you may wish to investigate private loan options. Please see the following websites for information on options for US nationals: