UBC uses the following calculations to determine how much funding you're eligible to receive for each study period.
Direct Subsidized Loan
This only applies to dependent undergraduate students.
Cost of Attendance – Expected Family Contribution = Financial Need
If you’re a dependent undergraduate student, your financial need is determined by the Expected Family Contribution (EFC) generated by the answers provided in your FAFSA.
Direct Unsubsidized Loan and Parent/Grad Plus Loan
Cost of Attendance – Financial Support = Eligible Funding
Cost of Attendance
Your Cost of Attendance is determined by UBC using the tuition costs provided by your program and the Moderate Standard of Living by BC’s student loan provider.
Financial support includes any awards, scholarships and loan funding (ie, Canadian Student Loans, Direct Unsubsidized Loans, etc...) you are receiving. Your financial support does not include income you have earned.
It’s important to report all of your scholarships and awards to avoid having your Direct Loans audited, reduced or returned.
When calculating your eligible funding, UBC uses the yearly loan limits as well as lifetime (or aggregate) limits (set by the US Department of Education) to determine your eligibility for Direct Subsidized and Direct Unsubsidized Loans.
To offer you the best possible student loan package, UBC will first assess you for Direct Subsidized and Unsubsidized Loans, followed by a Parents/Grad PLUS Loan, as long as you've applied for a PLUS Loan. You may consider applying for private loans like Sallie Mae to fill any unmet needs in your full cost of attendance.