UBC uses the following calculations in order to determine how much funding you can receive for each loan period.
Direct Subsidized Loan:
Cost of Attendance – Expected Family Contribution = Financial Need
Direct Unsubsidized Loan and Federal Plus Loan:
Cost of Attendance – Financial Support = Eligible Funding
Cost of Attendance
Once you are registered in courses for the term you wish to receive funding for, UBC will use that information along with your information you provided in your FAFSA application to determine your Cost of Attendance (COA).
Your COA is based on how much the average student, in your program of study, will need in order to study at UBC.
The calculation includes living amounts based on BC’s moderate standard of living as well as tuition, books, supplies, and student fees.
In order to assess your loan eligibility, UBC must include any scholarships, awards, or additional student loan funding from UBC or external organizations you are receiving.
It’s very important that you disclose any amounts you are awarded while receiving US student loans; undisclosed scholarships or awards can affect your ability to receive future funding.
Money you earn through working, work learn programs, or research grants that are considered as income aren’t included in this calculation.
If you’re an undergraduate dependent student, your parents’ Expected Family Contribution (EFC) will determine whether or not you receive subsidized loan funding.
When calculating your eligible funding, UBC must abide by the US Department of Education’s yearly loan limits as well as lifetime (or aggregate) limits if you’ve received Direct Subsidized and Direct Unsubsidized Loan funding before.
To offer you the best possible student loan package, UBC will assess you in first for Direct Loan funding (subsidized then unsubsidized) and then (if you apply for them) PLUS funding and/or Sallie Mae Smart Loans.