U.S. Student Loans
Post secondary education can be an expensive endeavor. Many students may find taking out a student loan may help them with their expenses and tuition. The American University offers their students the ability to finance their education with student loans. Students who are US citizens are eligible for Stafford loans and Parent PLUS loans.

Since The American University of Rome is located outside of the United States it is not permitted:
1. To access aid other than Federal Stafford and PLUS loans (Perkins, Pell Grants etc..are not permitted at foreign schools)
2. To use the Master Promissory Note (MPN) for more than one year at a time.

Stafford Loans
Federal Stafford loans are fixed-rate student loans for undergraduate students attending a college or university that participates in the Federal Family Education Loan Program. Stafford loans can be used to pay tuition, and other eligible school expenses. Stafford loans are not based on credit, and they can be subsidized or unsubsidized depending on the student's financial need.

To be considered for Stafford Loans, a student MUST COMPLETE A FAFSA unless the only aid he/she wants to receive is a Plus loan via his/her parent. The FAFSA collects financial and other information used to calculate the Expected Family Contribution (EFC) and to determine the student’s eligibility through computer matches with other agencies.

Students can fill out a paper FAFSA, or they can apply electronically using FAFSA on the web. Students can log on to www.fafsa.ed.gov and complete the application electronically the school code for AUR is G31025. After this step is done students will be notified via email with an award letter informing them of their eligibility. You can also correct any of the previous submitted data except for the Social Security Number (SSN) . Help is available on line, and students can also call 1-800-4-FED-AID.

Subsidized Stafford Loans are federally guaranteed loans based on financial need. Interest does not accrue on the loan while you are in school at least half time (6 credits), or during any future deferment periods. The federal government "subsidizes" (or pays) the interest during these times.

Unsubsidized Stafford Loans are federally guaranteed loans that are not based on financial need. Interest will accrue from the time the loan is disbursed to the school, but can be deferred until 6 months after graduation.

Stafford Loan Interest Rates

New Academic Year Stafford Loan interest rates go into effect each year from July 1st.

Below you will find what you may be eligible for each year at school. These amounts cover one academic year, Fall/ Spring/ and Summer. You can receive a subsidized loan and an unsubsidized loan for the same enrollment period as long as you don't exceed the annual loan limits.

Stafford Loan Limits
If you're a dependent undergraduate student (excluding students whose parents cannot borrow PLUS Loans), each year you can borrow up to:

If you're an independent undergraduate student (and a dependent student whose parents have applied for but were unable to get a PLUS Loan (a parent loan)), each year you can borrow up to:

The American University of Rome will calculate the amount of Title IV aid that was earned based on a payment period basis. The institution will determine:
• The Title IV aid disbursed or that could have been disbursed.
• The percentage of Title IV aid earned by the student.
• The amount of Title IV aid earned by the student.
• The total Title IV aid to be returned or disbursed as a post-withdrawal disbursement.
• The amount of unearned Title IV aid to be returned by the school.
• The amount of unearned Title IV aid to be returned by the student. Institutional refunds will continue to be calculated by the payment period. The student will be responsible for any tuition, fees, books or equipment not covered by Title IV funds.

For more information about Stafford Loans
please visit: Federal Student Aid

*Students should always remember to search for scholarships before applying for student loans.

After you complete your FAFSA
An award letter will be sent out to you outlining the Stafford Loan and Plus Loan eligibility and also any scholarships awarded to the student by AUR. An award letter will also be sent to your parents notifying them of the Plus Loan amount they are eligible at the same time. You and your parents must then decide if you accept or deny the aid provided. After which both you and your parents must mail back the signed copy of each award letter to AUR. The priority deadline for accepting or denying aid is MAY 15th. In June an invoice of your tuition will be sent out notifying you of the aid you have accepted (if any) and the remaining outstanding balance you have with AUR (if any).

After you receive your award and decide to accept it you must then choose a lender. AUR recommends you choose a lender who has experience in dealing with non-US schools. Not all lenders deal with non-US schools and as a result often give misinformation and delays. AUR’s most commonly used lenders are:

• IEFC: The premier link between you and financing your international education. IEFC offers a wide array of loan solutions.
• Citibank: They offer high-quality federal student loans and they will help you understand the process from start to finish.
• Sallie Mae: Sallie Mae has a specialist team for students at foreign schools.

FEDERAL RETURN OF TITLE IV FUNDS POLICY
Title IV recipients who withdraw completely before completing 60% of the term for which the student has been charged, will be required to return a portion of the Title IV funds they received. The return amount will be calculated using the number of days the student attended in the given term and the total number of days in the given term. AUR is in full compliance with the Return of Title IV Funds in relation to Federal Stafford and PLUS funds.

Did you know you are eligible to deduct student loans interest from your taxes?
The student loan interest deduction is taken as an adjustment to income. This means you can claim this deduction even if you do not itemize deductions on Schedule A (Form 1040).
Please visit the IRS website for more information:

Entrance and Exit Counseling
For first time Stafford Loan borrowers at AUR you are required to complete an entrance counseling, this includes transfer students who may have completed one at their former school must still complete another for AUR. Below are instructions on how to complete this interview, please note that when you graduate or if you withdraw or transfers out you must complete an exit counseling as well.

PARENTS: Please don't complete the counseling session on behalf of your son or daughter, as this federal requirement helps the student understand the rights and responsibilities of borrowing a student loan.
• You will need about 25 minutes to complete this counseling session.
• You will need the following information:
• Your Social Security number
•Your driver's license number

You might need the following information:
•Name, address, telephone number, and employer for your spouse, if applicable
• Names, addresses, telephone numbers, and employers for your next of kin and/or parent
• Names, addresses, telephone numbers, and employers for two references residing at different addresses
• NOTE: Providing names and information for your spouse, parent, next of kin, and references does not obligate them to assist with repayment of your loan. Regulations require you provide this data so your loan holder can locate you, if, in the future, they have an invalid address or phone number.

Steps to completing your counseling session

Online Student Loan Counseling:
1. Visit MappingYourFuture.org.
2. Click on the “complete Online Student Loan Counseling” link on the left side of the page.
3. Click on the fill in appropriate loan counseling type link”. (For example for Stafford entrance counseling the instruction would be “Click on Stafford entrance counseling link”.)
4. Complete the steps to select your school, read the content and answer questions, and complete the student form.
5. Print the confirmation page (it has your rights and responsibilities) or note the confirmation number for your records.

What to Do
• Read the content and answer the questions.
• Fill out the student information form. Use the comment box for any comments or questions you have for your school.
• Print the confirmation page that appears after you fill out the student information form or note your confirmation number for your records.
• Provide me with a copy of the confirmation.

The Financial Aid Department cannot disburse your funds until you have completed the counseling.