US Direct Loans

Basic eligibility criteria are available on studentaid.gov.

We remind you to carefully read this page dedicated to costumer disclosure information.

Please note that If you study in the United States for any part of your course, you will not be able to receive US Federal Loans through Bocconi. Please also note that if you take part in an internship in the United States, an exchange program or a free mover experience in the United States, you will not be able to receive US Federal Loans through Bocconi, except that it may permit students to complete up to 25 percent of the program by:

1. Enrolling in the coursework, research, work, or special studies offered by an eligible institution in the United States; or
2. Participating in an internship or externship provided by an ineligible organization as described in 34 CFR 668.5(h)(2);

Please also consider that if your program foresees an internship, an exchange program, a double degree or a free mover experience lasting more than 25 percent of the program duration in a foreign university, you will be allowed to receive US Federal Loans through Bocconi only if the partner university is Title IV eligible, hence is included in the list you can find on the FSA official website here. If the partner university is not included in the above mentioned list, you will be allowed to request US Federal Loans through Bocconi only if the duration of the experience abroad is up to 25 percent of the program.

It's important to note that there are different types of Direct Loans:

• Direct Subsidized Loans are loans made to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college or career school. 
   
• Direct Unsubsidized Loans are loans made to eligible undergraduate, graduate, and professional students, but eligibility is not based on financial need.
   
• Direct PLUS Loans are loans made to graduate or professional students and parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit check is required. Borrowers who have an adverse credit history must meet additional requirements to qualify.

The amount you are eligible to borrow depends on whether you are an undergraduate student, a graduate or professional student, or a parent. You can verify the Subsidized and Unsubsidized annual loan limits set by the US Department of Education on studentaid.gov.

• If you are an undergraduate student, the maximum amount you can borrow each year in Direct Subsidized Loans and Direct Unsubsidized Loans ranges from $5,500 to $12,500 per year, depending on what year you are in school and your dependency status.
   
• If you are a graduate or professional student, you can borrow up to $20,500 each year in Direct Unsubsidized Loans. Direct PLUS Loans can also be used for the remainder of your cost of attendance, as determined by your school, not covered by other financial aid.
   
• If you are a parent of a dependent undergraduate student, you can receive a Direct PLUS Loan for the remainder of your child’s cost of attendance, as determined by your school, not covered by other financial aid.

You can verify the Subsidized and Unsubsidized annual loan limits set by the US Department of Education on studentaid.gov.

Check here further details on Bocconi Cost of Attendance.

Remember, you can borrow less than Bocconi University offers you and can request more loan funds later if you need to, provided that you do not miss the deadlines set by Bocconi University. 
Please note that funds should be mostly to be requested for covering tuition and fees, any request of funds to cover other kind of activities different than tuition and fees may be rejected. 
 

Upon receiving and signing your Award Letter, Boccoi University will initiate the loan request with the US Department of Education. Please be informed that as soon as Bocconi starts the request for funds, your loan will formally start. If you feel that you do not need the loan immediately, you can sign the Award Letter and submit your application at a later date, as long as you adhere to the deadlines established for your program listed here. 

­Typically, your loan will be allocated for the entire academic year, and the school will distribute the funds in two separate payments, known as disbursements. 
Initially, the school will apply your loan funds toward tuition, fees, and, if applicable, your on-campus housing. Should there be any remaining loan funds, they will be refunded to you through a bank transfer to a European bank account (bank account with IBAN number)

Find the timing for the disbursements in the table below:

*be aware that if you submit your US Direct Loan application and sign your award letter in September you will receive the loan following the timeline of BsC and MsC students. 

It is important to note that if your first disbursement falls short of covering all tuition and fees prior to your second disbursement, you will be responsible for paying the installments by the deadlines set by the appropriate office. Receiving a loan does not automatically defer your obligation to pay tuition and fees. Therefore, we encourage you to ensure that you have adequate funds to cover your expenses until you receive any possible refunds from your loan for educational and living costs after the required fees have been deducted.

Each subsequent disbursement is also subject to maintaining Satisfactory Academic Progress (SAP).

It is the student's responsibility to repay the loan.

Exit counselling provides important information to prepare you to repay your federal student loan(s). Further information can be found here.

If you have received a subsidized, unsubsidized or PLUS loan under the Direct Loan Program you must complete exit counseling each time you: 
 

• drop below half-time enrollment
• graduate
• leave school