Funding for American Students

Jönköping University is a participating institution in the US Government Federal William D. Ford Direct Loan Program for Bachelor’s and Master's programs. This means that our US applicants can apply for a study loan.

General information on U.S. loans

Students who are citizens or eligible permanent residents of the United States may borrow Federal Direct Student Loans for enrollment at Jonkoping University. The information on this page will help you navigate the process for applying and provide information about borrowing. But you can also learn more about obtaining federal loans for student at an international school on the Federal Student Aid website: Aid for International Study | Federal Student Aid.

Please note: If you are planning on attending Jonkoping University as an exchange student you will continue to obtain your federal aid through your home U.S. institution.

Students can borrow for both bachelor's and master's programs, though the amount that you can borrow will be different based on your grade level and whether you are a dependent student or independent. If you are enrolling in a graduate program, you will be considered an independent student for the purposes of obtaining Federal Direct Loans.

The type of loans students can obtain under the Direct Loan program are:

Stafford Subsidized Loans- Loans for undergraduate students who show financial need. The interest on the loan is paid by the government while the student is enrolled in school at least half-time and during other periods of approved deferments. Students can borrow up to the maximum amounts listed below.

Stafford Unsubsidized Loans- Loans for undergraduate or graduate students that are not based on financial need. Interest accrues on the loan while the student is in school. Students can borrow up to the maximum amounts listed below.

Grad PLUS Loans- Additional loans for Graduate students up to the cost of attendance minus any other aid, scholarships, or loans that the student has been awarded.

Parent PLUS Loans- Loans that parents may borrow for their child who is a dependent undergraduate student up to the cost of attendance minus any other aid, scholarships, or loans that the student has been awarded.

Annual Loan Limits

Dependency Status

Grade Level

Maximum Amount Borrowed Yearly

Independent

Graduate

$20,500 Unsubsidized

Independent

First Year

$9,500 of which no more than $3,500 can be subsidized


Second Year

$10,500 of which no more than $4,500 can be subsidized


Third Year

$12,500 of which no more than $5,500 can be subsidized

Dependent

First Year

$5,500 of which no more than $3,500 can be subsidized


Second Year

$6,500 of which no more than $4,500 can be subsidized


Third Year

$7,500 of which no more than $5,500 can be subsidized

*If a parent is unable to obtain a PLUS loan, a dependent undergraduate student may borrow at the same levels as an independent undergraduate student at the same grade level.

There are also aggregate maximum amounts that a student may borrow.

Aggregate Maximum Loan Limits


Dependent Undergraduate

Up to $31,000. Of which no more than $23,000 can be subsidized

Independent Undergraduate

Up to $57,000. Of which no more than $23,000 can be subsidized

Graduate

Up to $138,500 (including loans received as an undergraduate). Of which no more than $65,000 can be subsidized


Basics of Borrowing

Who is eligible?

You must be a United States citizen or an eligible permanent resident of the U.S. There are some other requirements. For instance, male students must register with the draft in order to be eligible. There are also prohibitions on receiving aid if a student has certain drug convictions.

Does financial need determine whether you can borrow?

You will fill out a Free Application for Federal Student Aid. This form will ask about your and, if applicable, your parent’s income and other financial information. The form is available online and you can link to the IRS from the form to populate answers to many of the questions.

Once submitted, you will receive a response with an “EFC” or Estimated Family Contribution. This number is subtracted from your overall cost of attendance to determine whether you are eligible for subsidized loans as an undergraduate student. If you are a graduate student or an undergraduate whose EFC number exceeds the cost of attendance, you’ll likely be eligible for unsubsidized loans.

For more information on program tuition, fees and living expenses, all of which will go into your cost of attendance, please go to:

Tuition and Application Fees - Education - Jönköping University (ju.se)

Living Costs - Education - Jönköping University (ju.se)

Insurances - Education - Jönköping University (ju.se)


Resources on financial literacy

It is important to know how much is reasonable to borrow. To do that, it’s useful to research the salary you can expect when you gradate from your program. This will help you determine the monthly payment you can expect to afford to make on your loans and still meet other bills as well as goals for saving and investment. It’s also important to learn strategies for budgeting while you’re in school and after you graduate. These links may be helpful:

Overview of BLS Statistics by Occupation : U.S. Bureau of Labor Statistics

Budgeting | Federal Student Aid

Money Management Checklist for College Students (studentaid.gov)


Net Price Calculator

The U.S. Department of Education provides a Net Price Calculator that estimates the average amount that students pay out of pocket at different universities. This tool allows students to compare costs that they will may need to borrow for. You can find the Net Price Calculator for Jonkoping University here:

Net Price Calculator Center (ed.gov) This will need to be updated once they provide a direct link to the schools calculator.


Application Process

Filling out the FAFSA

All students who wish to borrow through the Direct Loan program must fill out the Free Application for Federal Student Aid at: Apply for Financial Aid | Federal Student Aid. If you are a dependent undergraduate, your parent will also need to fill out a portion of the application.

Entrance Counseling

All new borrowers must complete Entrance Counseling online at: Entrance Counseling | Federal Student Aid. Entrance counseling will cover repayment plans, deferments, and other important information regarding your loans.

Signing the Master Promissory Note

Borrowers will need to sign a Master Promissory Note (MPN). Before you fill it out make sure to have your references’ contact information handy. This is needed in case your servicer cannot reach you once you are in repayment.

How does disbursement work

The Department of Education will send the loan funds to JU and you’ll receive your disbursement from the school. Generally, schools deduct any tuition and fees owed to them by the student before they disburse the rest of your funds to you.


While in school

Requirement for Satisfactory Academic Progress (SAP)

In order to continue to receive your loans in subsequent terms, you must be making satisfactory academic progress towards completion of your degree. There is both a qualitative and quantitative component to SAP which means you must be making adequate grades to progress in the program as well as successfully completing the courses you attempt. If you are not making SAP, you may need to appeal in order to continue to receive your loans, or you may need to pay for term(s) until you are meeting the SAP requirements.

R2T4 in case of withdrawal

If you must withdraw from a term, Jonkoping is required to perform a calculation to determine how much of your aid you “earned” given the proportion on the semester that you completed. This means that it is possible that some of your loan funds would need to be returned to the U.S. Department of Education by Jonkoping. Depending on how much needs to be returned and whether you are entitled to a refund of tuition and fees that would cover the amount that Jonkoping must return, it is possible that you could end up owing the school.

Reapplying each year with the FAFSA

  • You will need to fill out the FAFSA each year in order to continue to receive loans.
  • You must be enrolled at least half-time to receive funds. If you are not, your loans will not be disbursed. If you drop courses so that you are below half-time, the school will need to inform the U.S. Department of Education and your six-month grace period before you enter repayment would begin as of the date you were no longer half-time.


After Graduation

Exit Counseling

All borrowers must do exit counseling just prior to graduation or when they withdraw from school. Exit counseling reinforces the information provided during entrance counseling with a focus on repayment options and budgeting once you begin working.

Repayment plans

There are many repayment plans, so it can be confusing. But just know that if you need to make a smaller payment, especially in the early years of your career, there are repayment plans that base your monthly payments on your income. But if you are confident that you can pay off your loans in 10 years, the standard plan will also be available.

Options if you must pause payments

While an income based plan is probably the best way to pay if your income is low and you can’t make a larger payment, there are options to pause payments for a time. Some make sense, for instance if you continue your education and are enrolled at least half-time, it may make sense to take an in-school deferment. However, forbearances which are another way to pause payments, carry several negative consequences, such as capitalization of accrued interest. It’s always best to look into an income driven repayment plan before taking a forbearance, but it is a tool that can keep you in good status on your loans if you can’t make payments.

Budgeting after school

It’s helpful to use budgeting tools once you start working and have a monthly salary. There are many apps that you can use to track spending, pay your bills and plan for saving. Many come pre-loaded or are available in the app store for your phone. These can be useful in guaging if you’re right on track or if there are areas of spending where you could easily cut back in order to meet your financial goals.


Jönköping University Policies regarding U.S. Loans

  • Satisfactory Academic Progress (SAP) Policy SAP Policy
  • Return of Title IV Funds (R2T4) Policy and Procedures
  • Consumer information


Content updated