All private loans originated by the University of Hertfordshire will be disbursed in one instalment.
You will have the opportunity to instruct the University how you would like the loan to be apportioned against your tuition and/or accommodation fees.
The actual GBP sterling you receive will vary as it is dependent upon the exchange rate from USD $ to GBP £ at the time of disbursement. The disbursement dates for academic year 2021/22 are to be confirmed.
Under normal circumstances the funds will be physically transferred to the University's bank account via Western Union Business Solutions in the first instance. From there the funds will be converted into sterling and your tuition fees and/or accommodation fees will be deducted as requested by yourself. The remaining credit will then be refunded to you via Western Union Business Solutions, where you will be prompted to update your bank details via a secure link.
Failure to provide bank details when prompted will result in WUBS issuing a cheque which will be sent to the University for holding.
Before we can disburse anything to you, you need to open a UK bank Account. Please note that it can take up to 10 days to open a UK bank account.
Deadlines: To ensure your loan is disbursed in time the student finance team must have received your completed application by August 11 2021. Any applications received after this date will be deemed late applications and as such disbursements could fall outside of the advertised dates. If you fall into this category we will email you to advise of the next available disbursement dates.
You will receive an email when your disbursement is available. When you receive this email, you may contact us to reduce or cancel the disbursement.
WARNING - if you don't warn us in advance not to draw down your disbursement, then you will be responsible for all interest charges and for its repayment.
When we initiate disbursement, if there is anything which prevents us from making payment to you, we will immediately contact you by email and tell you what to do. Make sure that the email address the University of Hertfordshire has for you is current. Once registered, you can amend your contact details on StudyNet.