For Applicants from the United States
CEU has received Title IV registration at the US Department of Education and qualified to participate in the Federal Student Financial Assistance Programs authorized by Title IV of the Higher Education Act (Title IV, HEA Program). CEU's Federal School Code is: G40215.
Federal Stafford Loan
The U.S. Government offers Federal Stafford Loan for US Citizens to assist them with their education costs during their studies at a university. The loan funds are provided by Private U.S. lenders, guaranteed by guarantor agencies and reinsured by the US Government. The Federal Stafford Loan can be subsidized and unsubsidized loan.
The Subsidized Loan is awarded to students based on financial need. The US Government subsidizes interest on these loans while you are studying at least half time, or during a grace or deferment period.
The Unsubsidized Loan is not based on financial need. You are responsible for payment of interest for the full period of the loan. Whilst studying at least half time, or during deferment or grace periods you have the option of paying the interest or having it capitalized and added to the total value of the loan.
Attached you can find information about the maximum amount of loans that you are eligible to apply per academic year as well as the aggregate loan limits. The actual amount that you can borrow is based on the Cost of Attendance at the University, the Estimated Family Contribution that is indicated in the Student Aid Report (SAR) and the Estimated Financial Aid from the University and other external resources.
Other Federal Loans
There are also Graduate Plus, PLUS and private loans available in case the Stafford Loan Maximum Award is unlikely to cover the full cost of the tuition fees. The private, Graduate Plus or PLUS loan limit is Cost of Attendance (COA) minus the amount you are awarded as a Stafford Loan.
Application for Federal Loan
FAFSA (Free Application for Federal Student Aid)
The fist step to apply for Federal Stafford Loan is to complete and submit the FAFSA (Free Application for Federal Student Aid). This form can be completed on-line. Please visit the following web-site: www.fafsa.ed.gov. You can request a paper application from the Federal Student Aid Information Centre. Address: P.O.Box 84. Washington D.C. 20044 ; Tel: +1-800-433-3243. Once you submitted your FAFSA, you will need a PIN, for this visit web-site.
How to Find a Lender
After you submitted your FAFSA, the next step is to find a lender and complete a Master Promissory Note (MPN). You may apply for Federal Stafford Loan as well as Graduate Plus, PLUS and private loans by any lender of your choice. If you have not previously borrowed from the Stafford Loan Program and require assistance in finding a lender, you can contact your Local State Guarantor Agency for advice on lenders. Contact details for all Local State Guarantor Agencies can be found on the Department of Education's web-site.
The University cannot recommend any individual lender. However, we can give you a link for the lenders that are most commonly used by U. S. students who study in foreign schools. Your chosen lender will provide you with a MPN. If you complete a MPN on-line, please keep a printed copy for your own records and send a copy to the University.
Entrance Counseling
It is required for you to have an entrance counseling to advise you on the different types of loans available, repayment methods/schedules as well as making sure that the applicant is aware of the legal requirements of participating in the program. To complete the entrance counseling please visit the following website: Mapping Your Future. If you plan on taking out a Graduate Plus Loan as well as the Stafford Loan, please complete the combined Entrance Counseling.
Federal Loan Checklist
Download the Federal Loan Application and Information Sheet
Please complete this form and submit it to Zsuzsanna Blum, Financial Aid Officer at the Financial Aid Office. E-mail: blumz@ceu.hu. Address: Central European University, Budapest, H-1051 Nador u. 9 (Ground Floor Student Services). In this form you will inform the CEU Financial Aid Office about your selected lender and the amount of federal loan that you apply for.
Receiving the Loan Funds
Once your loan is approved and guaranteed, the money will be disbursed to the CEU Financial Aid Office in a form of a check and you can collect it from my office after you're enrolled and registered for classes. Please be aware that Federal Stafford, Graduate Plus and PLUS Loans are disbursed in two installments: in September and in January.
Exit Counseling
It is a legal requirement that you complete exit counseling before you graduate. The exit counseling is to advise students of the methods of repayment, deferment and the consequences of defaulting. Please visit the site Mapping Your Future and complete the exit counseling at least 3 months before you graduate.