Sallie Mae private loans
We can assist eligible US students to apply for a private loan to fund their study.
US students can apply for a private Sallie Mae student loan to study at Victoria University of Wellington. If you have chosen another lender, we can also work with them to certify the loan for you.
How to apply for a Sallie Mae student loan
1. Apply online
Apply for the appropriate student loan on the Sallie Mae website.
When completing your paperwork, our Office of Postsecondary Education Identification number (OPEID) is 01207800.
2. Confirm your loan has been approved
Once you have been approved for a loan by Sallie Mae, email our financial administrator to confirm your loan eligibility. You should indicate in your email whether you intend to:
- use the loan towards your tuition fees only or towards your living expenses as well
- stay at our self-catered or catered halls of residence or whether you will be looking for private accommodation.
3. We provide an Award Letter
We send you an Award Letter that specifies the total amount you may be eligible for less any other aid or scholarship that you might be receiving for the same study period.
The Award Letter states the total number of loan payments or disbursements recommended by the University. In most cases, payments will be scheduled a week prior to the start date of each trimester of your study.
4. Confirm the amount you are borrowing
You are not obliged to borrow the maximum approved amount as stated on the Award Letter. We encourage you to borrow what you need—without exceeding the maximum approved amount.
Once you receive the Award Letter, you need to email our financial administrator to confirm the amount you are borrowing. We will then certify the loan amount on your behalf.
5. We provide a certification document
We will issue you a letter confirming the details of the certified loan. You should use this letter as evidence of financial support when you apply for a student visa.
The loan payments or disbursements of your loan will likely be scheduled a week before the trimester start date. The funds will be disbursed on the scheduled date and may take a few days for the University to receive, process, and allocate to your account. If there is a credit balance once funds are allocated, you may apply for a refund by contacting our financial administrator.
A total of four disbursements can be scheduled per loan each year. If there is a need to schedule more disbursements, then you will need to submit another loan application. However, you may not borrow over the maximum approved amount within a period of 12 months.
After allocation of disbursement to a student’s account, if there are any deficits for the concerned period, then these would need to be covered by the student or amendments can be requested to future disbursements to cover the current dues.
Cancelling a loan payment
If you need to cancel a scheduled disbursement, you must advise Sallie Mae as well as the financial administrator at Victoria University of Wellington at least two weeks prior to the scheduled payment date.
The University is unable to return unwanted funds to Sallie Mae. It is your responsibility to arrange a repayment privately.
You need to be mindful of current exchanges rates at the time of confirming the loan amount for certification.
Sallie Mae loans are certified and disbursed in United States Dollars. However, the University only accepts payment in New Zealand Dollars. Any disbursements will be converted to New Zealand Dollars using the effective exchange rate on the day of delivery. Revisions cannot be made to reflect any changes in the currency exchange rate. Neither the University nor Sallie Mae can lock exchange rates.