Funding for US Students

US student loans at UBC

UBC is an approved Title IV institution, which means that UBC students from the US can access Direct Loans. 

However, students are not eligible for Pell Grants and Perkins Loans because UBC is considered a foreign school.

Direct loans

At UBC, the Direct Loan program includes Direct Subsidized and Direct Unsubsidized Loans, as well as Parent and Grad PLUS Loans. 

Types of Direct Loans

Students may receive either Direct Subsidized and/or Direct Unsubsidized Loans. Maximum funding amounts depend on if you’re classified as a dependent or independent student by the answers you provided on your FAFSA.

Direct Subsidized loans

  • Are available to undergraduate students with financial need.

  • Financial need is determined by the Expected Family Contribution (EFC) generated by the answers provided in your FAFSA.

  • The U.S. Department of Education pays the interest on a Direct Subsidized Loan while you are in school at least half-time and throughout your grace period.

  • For study periods beginning after July 1, 2012, graduate students are no longer eligible for Direct Subsidize Loan.

  • For more information, click here

Direct Unsubsidized loans

  • Are available to both undergraduate and graduate students in approved programs.
  • Are not based on financial need (i.e. we do not consider your EFC).
  • Interest is charged from the date the funds are disbursed.
  • You can choose to either pay interest while you are in school or have it added to the principal balance of your loan.

  • For more information, click here

Parent/Grad PLUS Loans

Parent PLUS and Grad PLUS Loans both require a credit check. Interest is charged on the dates the funds are disbursed. PLUS loans have a higher interest rate than Direct Subsidized and Unsubsidized Loans and interest accrues during your course of study. 

Parents of undergraduate students

Parent PLUS Loans can help parents pay for the educational expenses of dependent children studying at the undergraduate level.

For more information, click here

Graduate students

Graduate PLUS Loans are a good option for graduate students if they have applied for maximum Direct Unsubsidized Loans, have reached their annual limit of $20,500, and/or have reached their lifetime limit and require further financial aid.

For more information, click here

Eligibility

UBC can provide Direct Loan funding to students who meet the basic eligibility requirements. 

If you're a dual Canadian/American citizen

You may be eligible for Canada Student Loans through your home province. The exception to this is if you have any residency affiliation, through you or your parents, to the province of Ontario. In this situation, please contact your Enrolment Services Advisor for more information.

In addition to your personal eligibility requirements, there are additional program requirements that you must meet in order to receive (and maintain) your loan funding while at UBC:

Undergraduate students eligibility

You must:

  1. Be registered in and maintain at least 6.0 credits in the entire term for which you’re applying for funding OR in a Co-op or Exchange course*
    • 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
  2. Maintain Satisfactory Academic Progress throughout your studies with a cumulative average of 60% and by completing ⅔ (67%) of cumulative credits attempted at the end of each funded term

*If you're considering going on Co-op or Exchange in the US, please connect with an Enrolment Services Advisor to understand how this will affect your future Direct Loan eligibility. Co-ops and exchanges in the US will make you ineligible for future Direct Loan funding. In this case, you may want to consider private loans like Sallie Mae.

Graduate students eligibility

You must:

  1. Be considered full time and enrolled in at least one course for the entire term in which you’re applying for funding OR in a Co-op or Exchange course* 
    • 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
  2. Maintain Satisfactory Academic Progress throughout your studies by maintaining continuous registration in each term and to complete your program of study in a timely manner (within 5 years for master’s students, and within 7 years for doctoral students).

*If you're considering going on Co-op or Exchange in the US, please connect with an Enrolment Services Advisor to understand how this will affect your future Direct Loan eligibility. Co-ops and exchanges in the US will make you ineligible for future direct loan funding. In this case, you may want to consider private loans like Sallie Mae.

Distance education courses

If you take any Distance Education and/or an online course as a part of your credentials, you will be ineligible for US Direct Loan funding for the duration of your program.

Deadlines

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.

We recommend you apply for your Direct Loan at least 4 weeks before the start of the term. This will qualify for a one-month tuition deferral and ensures you receive your funding for the start of the term.

Any late payment may result in a financial hold being applied to your tuition account. Visit Paying tuition for details.

*We recommend you set up direct deposit if you have a Canadian bank account. Direct deposit allows the Direct Loan amount that exceeds your fees to be deposited directly into your bank account.

Winter Session funding timeline

October FAFSA opens for the next academic year
June - July Winter Session Registration opens
UBC starts to process Winter Session US loan applications — you must be registered to receive an assessment letter 
August Tuition deferrals are applied for students who submitted a complete US loan application at least 4 weeks before the start of school
September

First week of Term 1 classes
First loan disbursement for the Winter Session appears on Student Service Centre (SSC)
January

First week of Term 2 classes
Second loan disbursement for Winter Session appears on Student Service Centre (SSC)

Summer Session funding timeline

March

Summer Session Registration opens
April Tuition deferrals are applied for students who submitted a complete US loan application at least 4 weeks before the start of school
May First week of summer session term 1 
Summer Session loan disbursement appears on Student Service Centre (SSC)
July First week of summer session term 2

Financial aid estimate

If you want to know what you may be eligible for in Direct Loans for the upcoming winter session, you can request a financial aid estimate. This is a good option to help you plan in advance, as your assessment letter won't be available until 2-3 months before the school year starts.

If you would like a financial aid estimate, please email usloans.inquiry@ubc.ca.

How to apply

Applying for a US Direct Loan at UBC is different than for students attending a school in the US.

When you complete your FAFSA, the Department of Education will indicate that they'll notify your university of your application. As a foreign school, UBC does not receive these email notifications. You must submit the US Loan Request Form below for UBC to consider you for Direct Loans. 

Application process

  1. Submit your FAFSA and be sure to select UBC from the school list.

    UBC's school code: G08369

  2. Submit a UBC US Loan Request Form

    1. This form is required because UBC is not notified when you submit your FAFSA. Submit the form so we can access your FAFSA online.

    2. If you make changes to your FAFSA after submitting your request form, please email usloans.inquiry@ubc.ca so we can see if the updates will affect your affect your assessment.

  3. If you are going to apply for PLUS Loans, complete your application at studentloans.gov. There are separate tabs for Graduate students and Parents.

  4. If you are applying for Parent PLUS funding, have your parent(s) complete the Agreement to Release Funds form.

  5. Fill out a Master Promissory Note (MPN) at studentloans.gov for each type of loan you wish to receive. There are separate MPNs for Direct Subsidized/Direct Unsubsidized Loans and Parent/Grad PLUS Loans.

  6. If this is your first Direct Loans application at UBC, complete Entrance Counselling at studentloans.gov.

  7. Verify your email: Log in Student Service Centre (SSC) and make sure UBC has your current email address in Personal Info > Contact Summary. All US loan updates and information will be emailed to you at this email address.

Funding amounts

Co-op or exchange

Co-op terms

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. 

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 will make you ineligible for future Direct Loan funding.

Graduate students should check with an Enrolment Services Advisor to confirm if their co-op is loan eligible.

Exchange programs

Go Global offers many opportunities for students to spend a term or entire year studying abroad.

If you're considering going on exchange and are eligible for US loans, contact an Enrolment Services Advisor to understand your financial options before you apply for exchange.

Check the US Federal School Code Search (under Foreign Country) 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 will 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. 

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