William D. Ford Federal Direct Loan Program

    Maynooth University is approved by the US Department of Education to certify Stafford and PLUS loans under the Direct Loan Program: School Code G10797

    The Loans available are

    • Stafford Subsidised: Fixed max value, No interest charged while in school
    • Stafford Unsubsidised: Fixed max value, Interest charged while in school
    • PLUS Loan: Max value set by School (Cost of Attendance), Interest charged while in school.Undergraduates may borrow up to $12,500 in subsidised or unsubsidised loans under the Stafford Loan programme; amounts vary according to the year of study and whether a student is applying as an independent or as a dependent. 

    Graduate students can borrow up to $20,500 in Stafford unsubsidised loans to help fund their education at MU. Graduate students are not eligible for subsidised loans. It is possible to take out Grad PLUS loans to make up any shortfall in the student's cost of attendance.  

    Click here to see the maximum amounts that can be borrowed and interest rates.  

    It is not possible to receive US federal loans if registered as a Maynooth University student and be based in the US doing research. Federal Aid funding does not cover studies in a country outside of your institution’s location unless the funding covers undertaking eligible programs within an eligible institution. For example, students undertaking their degree programme with Maynooth University can study abroad for a semester or year long programme, but the host institution must also be certified with the US Department of Education, and the institution must be outside of the US.
    Please also note that some degree programmes which include internships may not be eligible for US federal loans.
     

    How to Apply

    US Citizens/ Eligible Permanent Residents who wish to apply for US Federal Aid to study on full-time degree programmes at MU should visit the US Federal Aid website to start their application.

    US financial aid applications are handled jointly between the University's International Office and the Fees Office. Disbursements are dealt with through our International Office while the transfer of funds and fee payments are carried out through our Fees Office.  Generally, students borrow funds to cover their cost of attendance (COA), this includes their Living Costs and Tuition Fees, books/supplies, miscellaneous personal expenses, travel costs and average loan fees.  These amounts are determined by the University of attendance and students are advised of the amount in their Funding Notification Letter which is issued by MU.  If the student wishes to appeal or request modifications to the loan amount they can do so via the funding notification offer.  If the student wishes to appeal the amount outlined in the funding notification letter then they should email [email protected]. The full loan fund will be split evenly and disbursed over the two semesters per year, the fee liability for that period is withheld and the remainder transferred to your Irish Bank Account.  And always remember that exchange rates will vary from disbursement to disbursement.

    Federal regulations stipulate that Federal Loans are disbursed electronically directly to the school. The fees office will then disburse the funds to the Student's Fee Account for processing.

    Loan funds are disbursed (issued in the US) at the start of the loan period or the academic year and cannot be requested until you commence your programme. The processing time between the United States and Ireland can vary.

    Please note that first instalment of federal loans cannot be disbursed until programme commencement and can take some time to arrive in MU's bank and subsequently to yours. Therefore, you must ensure that you have adequate funds for accommodation and general living for at least the first four to six weeks of your programme.

    View our data protection policies here.

    Opening a bank account.
    You will need to open an Irish bank account in order to receive your loan disbursements. See more information regarding opening a bank account here. You can request a proof of residence letter using our online form. This is required to open an Irish bank account, and proves you are a registered student at MU. 

    IMPORTANT: Once you have opened your bank account you can then log onto the Student Web Services - enter your student number and password - choose Fees & Grants Menu - then choose Student Bank Account Details - enter your date of birth then enter your bank account details in IBAN format.  If you have any queries regarding same please contact [email protected] OR call in person with your banking details to the Fees & Grants Office where any member of staff will gladly assist you entering same.

    Application Deadline: To receive your funding in time for academic year 2024/25 applications must be submitted by 2nd September 2024.

    What Happens Next?

    After you submit your application, it must be processed by Maynooth University. This process can take some time as the applications are all done together, so we ask you to be patient.
    The steps in processing your application are outlined below.

    • Once you have submitted all the required documents to FAFSA, the MU International Office will verify all the relevant details according to US federal requirements and assess your eligibility for funding.  
    • Next the MU International Office will then review your application and determine the funding you will need for the academic year.  You will be emailed a 'Funding Notification' letter which will detail the funding you are eligible for.  You should follow the instructions in that letter to agree to the loan amounts.
    • The student loans are the 'originated' by MU in a batch via the US COD online system.  You will receive an Award Letter (from MU), confirming your loans amounts (after origination fees charged by the US government) and details of when your funds will be disbursed. 
    • Loans will be drawn down by the Fees and Grants Office via the US G5 online system in two disbursements, which you will receive in the fall and the spring semesters. The loans cannot be drawn down until after students are registered in person, so please be patient. Please ensure you have funds to last until the first instalment arrives.
    • After you register at Maynooth University, and once the loans amounts have been received by the university from the US they will be lodged to your MU Fee Account.  MU Fees and Grants Office will then deduct the required amount to pay your tuition fees. Half of your tuition fees for the year will be paid from the first disbursement and the second half of your tuition fees will be paid from the second disbursement.  The balance remaining after payment of your fees will be transferred to your Irish bank account, a transfer in Semester 1 and another in Semester 2.

    We cannot begin this process until all your documentation is complete. There are many steps to the loan process many of which are outside of the university's control (some are done by the student and some are done by the US government). It is the student's responsibility to ensure that all the required documentation is uploaded to the FAFSA portal on time.  Failure to do so will result in delays to the application process.

    Remember the MU Fees and Granst Office cannot transfer your loans unless you have supplied your Irish bank account details.  You will be notified by email to your Maynooth University email address by the Fees and Grants Office once the bank transfer has occurred.


    Private Loans - Sallie Mae Smart Loans

    The only private loan currently available to US students at foreign schools is the Sallie Mae Smart Loan. Sallie Mae Smart Loans are available for undergraduates and for postgraduates. 
    Please notify us at [email protected], including this filled out 
     as an attachment.
    Remember we cannot certify your loan if you do not notify us of your application! 


    Veterans Affairs Benefits

    Maynooth University is approved by the U.S. Department of Veterans Affairs to process applications for Veteran Affairs Benefits for eligible students. Please notify us at [email protected], including this filled out   as an attachment. Remember we cannot certify your application with Veteran Affairs if you do not notify us of your application! .