About Direct Loans
UBC is an approved Title IV institution, allowing UBC students from the US to access Direct Loans.
At UBC, the Direct Loan program includes:
- Direct Subsidized Loans
- Direct Unsubsidized Loans
- Parent and Grad PLUS Loans
UBC can provide Direct Loan funding to students who meet the basic eligibility requirements.
Maximum funding amounts depend on whether you’re classified as a dependent or an independent (pdf) student by the answers you provided on your Free Application for Federal Student Aid (FAFSA).
Find out how UBC calculates your eligible funding. If you have questions about your funding eligibility or assessment, please contact an Enrolment Services Advisor.
Direct Subsidized Loans
The Direct Subsidized Loans are available to undergraduate students who are enrolled in at least 6 credits per term and demonstrate financial need in an approved program. Financial need is determined by the Student Aid Index (SAI) from your Free Application for Federal Student Aid (FAFSA).
The US Department of Education pays the interest on a Direct Subsidized Loan during the following times:
- While you are enrolled in school
- Throughout your grace period
- During your deferment period after graduating
Direct Unsubsidized Loans
The Direct Unsubsidized Loans are available to both undergraduate and graduate students. Undergraduate students must be registered in at least 6 credits per term in approved programs. Graduate students must be considered full time and be enrolled in at least one course for the entire term of funding. These loans are not based on financial need.
Interest on Direct Unsubsidized Loans is charged starting from the disbursement date. You can choose to either pay interest while you are in school or have it added to the principal balance of your loan.
Parent and Grad PLUS Loans
Parent PLUS and Grad PLUS Loans both require a credit check. Interest is charged starting from the disbursement date.
PLUS loans have a higher interest rate than Direct Subsidized and Unsubsidized Loans and interest builds up during your course of study.
Parents of undergraduate students (Parent PLUS Loans)
The Parent Plus Loans can help parents pay for the educational expenses of dependent children studying at the undergraduate level.
Graduate students (Grad PLUS Loans)
The Graduate PLUS Loans are a good option for graduate students who meet one of the following:
- You’ve applied for maximum Direct Unsubsidized Loans.
- You’ve reached your annual limit of $20,500.
- You’ve reached your lifetime limit and require additional financial aid.
Direct Loan program eligibility
In addition to basic eligibility requirements, you must meet additional program requirements to receive and maintain your loan funding while at UBC.
Which courses are eligible for Direct Loan funding?
Students must not enrol in any online courses during their degree to maintain Direct Loan eligibility, even during periods that they are not receiving Direct Loan funding.
There are four modes of course delivery in Workday at UBC: In-Person, Online, Hybrid, and Multi-Access. Check the Mode of Delivery in Workday to determine how the course will be delivered.
If you have a question about the eligibility of specific hybrid courses, contact usloans.inquiry@ubc.ca.
| Course type | Eligibility |
| In-person | Eligible for Direct Loan funding |
| Online | Not eligible for Direct Loan funding |
| Multi-access | Not eligible for Direct Loan funding |
| Hybrid | Most courses are not eligible for Direct Loan funding |
All undergraduate student applicants must meet all the following requirements:
- You must be registered in and maintain at least 6 credits in the entire term for which you’re applying for funding:
- You must be registered only for in-person and on-campus courses.
- Registered courses must be for credit. Audited and waitlisted courses do not meet this requirement.
- For Summer Session eligibility, you must be registered in courses across both terms from May to August.
- You must maintain Satisfactory Academic Progress (pdf) throughout your studies with a cumulative average of 60%. You must also complete two thirds (67%) of cumulative credits attempted at the end of each funded term.
All graduate student applicants must meet all of the requirements:
- You must be considered full time and be enrolled in at least one course for the entire term in which you’re applying for funding:
- You’re registered only for in-person and on-campus courses.
- Registered courses must be for credit. Audited and waitlisted courses do not meet this requirement.
- For Summer Session eligibility, you must be registered in courses across both terms from May to August.
- You must maintain Satisfactory Academic Progress (pdf) throughout your studies by maintaining continuous registration in each term. You must also complete your program of study in a timely manner which is within 5 years for master’s students, and within 6 years for doctoral students.
You may be eligible for Canadian Student Loans through your home province. If you have any residency affiliation, through you or your parents to the province of Ontario, you may be an exception. Please contact your Enrolment Services Advisor for more information.
Co-op is a great way to gain work experience as you study. Most co-op placements arranged through your undergraduate program are eligible for Direct Loan funding as long as they are not located in the United States.
If you’re considering doing your Co-op in the US, please connect with an Enrolment Services Advisor first to fully understand the financial implications for your future Direct Loan eligibility. Co-op placements in the US might make you ineligible for future Direct Loan funding.
If you’re a graduate student, please check with an Enrolment Services Advisor to confirm if your co-op is loan-eligible.
There are many opportunities offered by Go Global for students to spend a term or entire year studying abroad.
If you’re thinking about going on exchange and you’re eligible for US Direct Loans, contact an Enrolment Services Advisor to understand your financial options before you apply for exchange.
Check the US Federal School Code Lists to confirm that your partner university is also eligible to provide Title IV funds.
If you choose to do an exchange at a school in the US, you could lose your eligibility for Direct Loans for the rest of your program. We do not recommend going on exchange to a US school if you require federal loans.
If your partner university is Title IV and not located in the US, UBC can assess you for Direct Loans while you’re on exchange.
If your partner university is not Title IV, you will not be eligible to receive Direct Loans for the period of your exchange. You may want to consider private loans like Sallie Mae instead.
Financial aid estimate
Your assessment letter will not be available until 1 to 3 months before the school year starts. If you have submitted your FAFSA for the upcoming academic year and have been admitted to UBC, you can request a financial aid estimate to determine what you may be eligible for in Direct Loans and plan your finances in advance.
Timeline
You’re recommended to apply for your Direct Loan at least 4 weeks before the start of the term. This will ensure that you receive your funding for the start of the term. However, you can apply for a Direct Loan and submit a US Loan Request Form up to 2 weeks before the end of your study period.
Any late payments may result in a financial hold applied to your tuition account.
If you have a Canadian bank account, you’re required to set up direct deposit. Direct deposit allows the Direct Loan amount exceeding your fees to be deposited directly into your bank account.
| Month | Description |
|---|---|
| October | FAFSA opens for the next academic year |
| June to July | Winter Session registration opens. See registration dates. UBC starts to process Winter Session US loan applications. You must be registered to receive an assessment letter. |
| September | First week of Term 1 classes First loan disbursement for the Winter Session appears on Workday |
| January | First week of Term 2 classes Second loan disbursement for the Winter Session appears on Workday |
| Month | Description |
|---|---|
| March | Summer Session registration opens. See registration dates. |
| May | First week of Summer Session Term 1 Summer Session loan disbursement appears on Workday |
| July | First week of Summer Session Term 2 |
Applying for a US Direct Loan
The process of applying for a US Direct Loan at UBC is different from the process for students who attend a school in the US.
When you complete your Free Application for Federal Student Aid (FAFSA), the Department of Education will notify UBC of your application.
How to apply
- Submit your Free Application for Federal Student Aid (FAFSA). Make sure to select UBC from the school list. UBC’s school code is G08369.
- Submit a UBC US Loan Request Form.
- As a foreign school, UBC requires additional information and cannot assess you for Direct Loans until you have submitted this form.
- If you make changes to your FAFSA after submitting your request form, please email usloans.inquiry@ubc.ca so UBC can determine if the updates will affect your assessment.
- Read the Privacy Notice: Your personal information is collected under the authority of section 26(c) of the Freedom of Information and Protection of Privacy Act (FIPPA). This information will be used for the purpose of evaluating your US Direct Loan application while attending UBC. In order to participate in the Title IV Direct Loan program, UBC is required to share your personal information with the US Department of Education, and their agents and contractors. Questions about the collection of this information may be directed to usloans.inquiry@ubc.ca.
- If you are going to apply for PLUS Loans, complete your application on the Federal Student Aid website.
- Fill out a Master Promissory Note (MPN) for each type of loan you wish to receive. There are separate MPNs for Direct Subsidized and Direct Unsubsidized Loans, and Parent and Grad PLUS Loans.
- If this is your first Direct Loans application at UBC, complete Loan Entrance Counselling.
- Verify your email. Log into your Workday account and make sure UBC has your current email address. Learn how to update your personal information in Workday. All US loan updates and information will be emailed to you at this email address.
Other loan options
Check out other loans if you’re not eligible for direct loans.
- Sallie Mae Private Loans
Sallie Mae loans are a useful option for undergraduate and graduate students who are not eligible for Direct Loans. - Alternative Sources of Funding for US students
Browse more options for US students to fund their studies at UBC.
UBC students from the US are not eligible for Pell Grants and Perkins Loans because UBC is a foreign school.
Additional resources
If you have questions
If you have questions, please contact your Enrolment Services Advisor directly.
For general questions, please call 604 822 9836 or submit a question through the online form.