UBC uses the following calculations to determine how much funding US Direct Loan applicants are eligible to receive for each study period.
About the calculations
Direct Subsidized Loan
A Direct Subsidized Loan only applies to dependent undergraduate students who have financial need. It is calculated through the following equation:
Cost of Attendance – Expected Family Contribution = Financial Need
Determining 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 Free Application for Federal Student Aid (FAFSA).
Direct Unsubsidized Loan and Parent/Grad Plus Loan
These loans are calculated with the following equation:
Cost of Attendance – Financial Support = Eligible Funding
Cost of Attendance
UBC determines your Cost of Attendance using the tuition costs provided by your program and your living costs as a single student away from home, which is based closely on the Moderate Standard of Living by BC’s student loan provider.
Financial support
Financial support includes any awards, scholarships and loan funding you are receiving, such as Canadian Student Loans or Direct Unsubsidized Loans. Your financial support does not include the 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.
Eligible funding
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 need in your full cost of attendance.
Additional resources
If you have questions
If you're an undergraduate student, please contact your Enrolment Services Advisor directly. To find your advisor’s contact information, log into your Student Service Centre (SSC) and select “UBC Contacts” under Personal Info.
Graduate, postgraduate, and all other students can contact an Enrolment Services Advisor by calling 604 822 9836 or submitting a question through the online form.
