University of Otago International Student US Financial Aid
US Financial Aid at the University of Otago
Financial Aid at Otago is administered by the International Office.
Our approach allows us to effectively manage your financial aid as well as ensuring that you have access to all the additional support structures, thus enhancing your learning experience.
Undertaking university study is an investment in your future, and as such you have a number of funding options. You are encouraged to investigate all options, both on and off campus, in the US and in New Zealand. Non-University based or private scholarships are offered by a large number of organizations.
Otago’s financial aid staff are trained professionals and we encourage you to make contact with us before you arrive on campus. This will help to give you clarity in relation to your financial aid eligibility before you move to Dunedin. We are committed to making certain that the financial aid process is clearly explained to you before you borrow funds, and that we work with you to ensure that you leave us with the lowest amount of debt possible.
For further information about the conditions and obligations of US Financial Aid and general financial literacy, please visit National Student Loan Data System.
If, at any point in time, you are uncertain about a term or phrase used in our Financial Aid section of the website, please refer to our Glossary section.
The University of Otago’s draft cohort default rate for year 2015 is 2.8%.
Important Information for Graduate Students
How does the Title V of the Budget Control Act (BCA) of 2011 affect me?
Effective for loans made for periods of enrollment (loan periods) beginning on or after July 1, 2012, graduate and professional students are no longer eligible to receive Federal Direct Subsidized Loans. The terms and conditions of Direct Subsidized Loans received by any student for loan periods beginning before July 1, 2012, for either graduate or undergraduate study, are not affected by this change.
The annual loan limit for graduate and professional students remains unchanged at $20,500, but this amount will now be limited to Direct Unsubsidized Loans, as shown in the following chart:
Annual Loan Limits for Graduate / Professional Students
Loans for loan periods beginning before July 1, 2012
Loans for loan periods beginning on or after July 1, 2012
Subsidised Loan Maximum: $8,500.00
Unsubsidised Loan Maximum: $12,500.00 less any subsidised amount received
Unsubsidised Loan Maximum: $20,500.00
The aggregate loan limit for graduate and professional students remains unchanged at $138,500, not more than $65,500 of which may be in subsidized loans.
The elimination of subsidized loan eligibility for graduate and professional students does not affect undergraduate student borrowers, who remain eligible to receive Direct Subsidized Loans.
Also, the BCA clarifies that borrowers who are receiving Direct Loans for preparatory course work necessary for admission into either an undergraduate program or a graduate/professional program, or for course work required for teacher certification or recertification, remain eligible for Direct Subsidized Loans. Students enrolled in preparatory course work or course work required for teacher certification are considered undergraduate students for purposes of annual loan limits.
Loans available through the University of Otago for US Financial Aid.
How to apply for US Financial Aid at the University of Otago.
Eligibility for US Financial Aid at the University of Otago
The Cost of Attendance (COA) is an estimate of a student’s education expenses for the period of enrollment.
The link between your academic achievement and continued eligibility for US Government funding.
Repaying your financial aid.
US Financial Aid Refund Policy (Return of Title IV Funds)
The University of Otago has strict policy, procedures and practice for the treatment of refunds and return of Title IV, HEA program funds when a student withdraws from study.
How to apply for US Department of Veterans Affairs funding
Online Resources and Forms for US Financial Aid.
Glossary of Terms for US Financial Aid at Otago.
If you require further clarification, please don’t hesitate to contact us:
Director, US Financial Aid
Administrator, US Financial Aid
We are open from Monday to Friday between 10.00am and 4.00pm
We recommend that you contact us to make an appointment so that we can ensure the administrator will be available to see you.
International Office, Room G01
University of Otago
Archway West Building
90 Union Place East
Tel 64 3 479 8582
Fax 64 3 479 8367