Loans for US students

US students loans at UBC

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

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

Direct loans

At UBC, the FAFSA Direct Loan program includes Stafford subsidized and unsubsidized loans, as well as Parent and Grad Plus loans. 

Stafford loans

Students may receive either subsidized or unsubsidized Stafford loans. Maximum funding amounts depend on whether you're considered to be a dependent or independent student

Subsidized Stafford loans

  • Are based on financial need.

  • Financial need is determined by the Expected Family Contribution from your FAFSA report.

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

  • For study periods beginning after July 1, 2012 graduate students are no longer eligible for Subsidized Stafford loan funding.

  • For more information, click here

Stafford unsubsidized loans

  • Are available for both undergraduate and graduate students in approved programs.
  • Are not based on financial need (i.e. do not consider your EFC)
  • Interest is charged from the date the funds are provided.
  • 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

Automatic deferrals: If you apply for Stafford loans at least 4 weeks before the start of school and are eligible for funding to pay your tuition and fees, you will automatically be granted a tuition deferral. Eligible graduate and undergraduate students will have fees deferred for one month after the tuition fee deadline in September or January. Deferrals don't apply to registration deposits.

Parent/Graduate PLUS Loans

Parent PLUS and Grad PLUS loans both require a credit check by the US Federal Government. Interest is charged from the dates the funds are provided. PLUS loans have a higher interest rate than Stafford loans and interest accrues during your course of study. 

Parents of undergraduate students

Parent Plus loans can help parents pay the educational expenses of dependent children studying at the undergraduate level. Financial need, as indicated in The Expected Family Contribution from your FAFSA report, does not factor into eligibility for a Plus Loan.

For more information, click here

Graduate students

Graduate Plus loans are a good option for graduate students if they are applying for maximum Stafford funding and/or have reached their life time 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 also be eligible to apply 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 our ESP team 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 you’re applying for funding OR in a Co-op or Exchange course*
    • Be registered in in-person and on-campus courses only
    • Registered courses must be for credit; audited courses do not count to this requirement
    • For summer session eligibility, you must be registered in courses across both terms running May - August
  2. Maintain Satisfactory Academic Progress throughout your studies with an average of at least 60% each term 

*If you're considering going on Co-op or Exchange in the US, please connect with an Enrolment Services Professional to understand how this will affect your future Direct Loan eligibility. Co-ops and exchanges in the US are not eligible for the Direct Loan program and you may need to apply for Sallie Mae Smart Option loans

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 in in-person and on-campus courses only
    • Registered courses must be for credit; audited courses do no count to this requirement
    • For summer session eligibility, you must be registered in courses across both terms running May - August
  2. Maintain Satisfatory Academic Progress throughout your studies with an average of at least 60% each term

*If you're considering going on Co-op or Exchange in the US, please connect with an Enrolment Services Professional to understand how this will affect your future Direct Loan eligibility. Co-ops and exchanges in the US are not eligible for the Direct Loan program and you may need to apply for Sallie Mae Smart Option loans

For further information, visit the US Loans FAQ page. 

Distance education courses

If you take any Distance Education and/or an online course as a part of a credential, 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 anytime up to 2 weeks before the end of your study session.  However, if you want to make sure your funding is available for the start of the term*, you have to apply early. 

We recommend that you apply for your loan at least 4 weeks before the start of the term. If you follow this suggested timeline, you will qualify for a one-month tuition deferral and you will usually receive your funding in the first week of school. 

If you apply after the suggested 4 week timeline you will not qualify for a tuition deferral, and your fee must be paid in full by the payment due date.  Any late payment may result in financial hold. Visit Paying tuition for details.

*If you are applying for funding for both tuition and living costs we recommend that you set up direct deposit on your Student Service Centre.  This feature requires a Canadian bank account, but will allow the loan amount that exceeds your tuition fees to be deposited directly into your bank account.

Winter Session funding timeline

October FAFSA opens for 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

How to apply

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

When you complete your FAFSA online, the Department of Education will indicate that they'll notify your university of your application. As  a foreign school, UBC does not receive these notifications.

This means that you must complete all of the steps below before your loan application can be processed. UBC will not be aware of your FAFSA application until we receive the US Loan Request Form.

Application process

  1. Submit your application to Free Application for Federal Student Aid (FAFSA).

    1. UBC's school code: G08369

    2. UBC is not notified when you submit your FAFSA application.  Please email usloan.inquiry@ubc.ca when you make changes to your FAFSA application.

  2. Submit your UBC application through the Online US Loan Request Form

  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 Stafford and Parent/Grad Plus.

  6. If this is your first Stafford application at UBC, complete an Entrance Counselling session at studentloans.gov.

  7. Verify your email information: Log in to your Student Service Centre (SSC) account and make sure your email address is current. All US loan updates and information will be emailed to you at this address.

Funding amounts

Find out more about how your funding amount is assessed. If you have questions about your funding eligibility or assessment, please contact an Enrolment Services Professional.

Co-op or exchange

Co-op terms

Co-op is a great way to gain work experience as you study. Most co-op courses 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 Professional (ESP) first to fully understand the financial implications for your future Direct Loan eligibility. Co-op terms in the US are not eligible for the Direct Loan program and will you'll become ineligible for future direct loan funding.

Graduate students should check with an ESP to confirm if their co-op is eligible.

Exchange programs

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

If you're eligible for US loans and considering going on exchange, contact an ESP first to fully understand the financial implications for your future Direct Loan eligibility. make sure to 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 your partner university is eligible, UBC can assess you for Direct Loans while you’re away.
  • If your partner university is not eligible:
    • ​You will not be eligible to receive Direct Loans for the period of your exchange.
    • You may not be eligible for any future US loan funding.
    • You may be required to pay back any previous funding you've received.

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