US Loans FAQ

Funding amounts

How much US Direct Loan funding am I eligible for?

You are eligible to borrow up to your full cost of attendance. Additional funding from other resources (e.g., scholarships, loans) you may be receiving will be subtracted from the total amount you can borrow. The cost of attendance, including living costs, typically ranges from $20,000 to $40,000 for international students at UBC. Your maximum funding also depends on your degree and year level. UBC can not certify you for funding that exceeds either your cost of attendance or the loan maximums set by the US Department of Education.

To learn how your funding is calculated, visit US Direct Loan funding amounts.

Use the UBC cost calculator to plan your first-year costs.

Do Direct Loan maximums apply to each term or each year?

The loan maximums set by the US Department of Education apply to the academic year (September to August of the following year).

If you use the maximum amount in Direct Subsidized and Direct Unsubsidized Loan funding for the Winter Session (September to April period) and then decide to take summer courses, you are not eligible for any further Direct Subsidized and Direct Unsubsidized loan funding for the Summer Session (May to August period).

If you do not use the entire annual loan limit during the Winter Session, you will still be eligible for consideration for the rest of the amount for the remaining academic year or Summer Session.

Funding eligibility

What type of funding can I apply for?

You can apply for Direct Loans, which may include Direct Subsidized and Direct Unsubsidized, Grad PLUS and Parent PLUS funding, depending on your personal eligibility. Undergraduate students may be eligible for Direct Subsidized funding, while graduate students are only eligible for Direct Unsubsidized funding.

If you are not eligible for Direct Loans, you have the option of applying for private loans through Sallie Mae.

Can I get Pell Grants or Perkins Loans?

UBC is considered a foreign school and US students attending foreign institutions are not eligible to receive these types of Federal aid.

Can I receive loan funding for Distance Education?

Students participating in any ineligible courses (e.g., Distance Education, online, and flexible learning classes) will lose Direct Loan eligibility for the duration of their degree.

Under the temporary CARES Act, US students will be allowed to take Distance Education courses until the end of Term 2 of the upcoming 2022 Winter Session (September 2022 to April 2023) and retroactive to March 1, 2020 without it negatively impacting their eligibility for Direct Loan funding.

Am I eligible for a US Loan while I'm on exchange?

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 Lists (under "Foreign Country") to confirm that your exchange 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. It is not recommended to go 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.

Can I receive funding for Jump Start?

Yes. If you are participating in Jumpstart and would like to include the fee in your US loan assessment, please send your request through email with your name and UBC student number to The registration fee will be included when your cost of attendance is calculated.

Am I eligible for a US Loan while I'm on Co-op?

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.

If you're a graduate student, please check with an Enrolment Services Advisor to confirm if your co-op is loan-eligible.

Application and funding timelines

When should I apply for my Direct Loan?

It is recommended you apply for your Direct Loan at least 4 weeks before the start of the term to make sure your funding is available by the first week of classes.

Follow the step-by-step instructions to avoid delays to your application.

When will I receive my Direct Loan (Subsidized, Unsubsidized or Parent/Grad PLUS) funds?

Your Direct Loan will pay towards your tuition and student fees on the disbursement date listed on your assessment letter from UBC. If there is any money leftover from your loan after your fees are paid, you can receive this money through direct deposit.

Please ensure these details are up to date in order to receive your refund in your bank account. This funding will be available a few business days after the disbursement date.

When will I receive my Sallie Mae Private Loans?

UBC releases your loan funding at the start of the term. It is recommended you apply at least 4 weeks before the start of term to ensure you receive your funding for the start of the session, as it takes 4 weeks to process a Sallie Mae Loan.

Can I receive my loan funding before school starts?

If you have been approved for a Direct Loan, the earliest your loan funding will be available is in the first week of classes.

You are expected to have some savings to cover housing deposits and other initial costs related to your studies. If you apply for your Direct Loans at least 4 weeks before the start of the term, your tuition will be deferred by one month to give you extra time to organize your finances.

Use the UBC cost calculator to plan your first-year costs.

After receiving a Direct Loan

Can I use audited courses or courses not for credit towards my registration requirement?

Direct Subsidized Loans are only available to undergraduate students registered in at least 6 credits per term. 

Direct Unsubsidized Loans are available for undergraduate and graduate students registered in at least 6 credits per term.

Any audited courses do not count towards the 6 credits requirement.

Can I cancel my Direct Loan?

You can cancel or reduce your Direct Loan within 30 days from the disbursement date by emailing

After 30 days, you must contact your lender to make arrangements to return all or a portion of your loan.

How do I file my taxes in the US while I’m studying in Canada?

As a Canadian institution, UBC does not issue American tax documents (e.g., Form 1098-T). However, UBC does issue a form called the T2022A through your Student Services Centre (SSC). You can use this form or provide it to your accountant for the purposes of filing your taxes in the US. It is recommended that you file taxes to Canada while you are studying at UBC.

Learn more about filing your taxes in Canada.

Where do I go to get my In-School Deferment or Continuation of Interest-Free Status form filled out?

If you have an advisor, your advisor can help you complete your In-School Deferment or Continuation of Interest-Free Status form. To find who your advisor is, log into the Student Services Centre (SSC) and select “UBC Contact” under Personal info.

If you don’t have an advisor, you can contact an Enrolment Services Advisor by calling 604 822 9836 or submit your question through the online form.

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.