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, Perkins loans, or other types of US federal financial aid.

US loan options for UBC students

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.

  • You won't be charged interest until you leave full-time study. 

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

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.
Automatic deferrals

If you apply for Stafford loans by July 15 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 slightly 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.

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.

US loan eligibility

UBC can provide Direct Loan funding to students who meet the basic eligibility requirements. If you're a dual Canadian/American citizen, we highly recommend that you explore applying for a Canadian student loan first.

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.

US loans while on 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.

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 deadlines

We recommend that you apply for your loan at least 6 weeks before the start of the term to make sure your cheque arrives by the first week of classes.

If you submit you US Loan Request Form to UBC at least 4 weeks before the start of term your tuition deadline will automatically be deferred for one month. 

Winter Term (Sep - Apr) July 31
Summer Term (May - Aug) March 31

Winter Session funding timeline

January FAFSA Applications open for study periods starting in September
June UBC Winter Session Registration
July UBC Winter Registration
July 1: UBC starts to process UBC Winter Session (undergraduates) and Full year (graduate) applications
July 31: Deadline for completed Winter Session applications to receive one-month tuition deferral 
September

First week of classes

First tuition disbursement for the Winter Session appears on Student Service Centre (SSC)
January

First week of classes 

Second tuition disbursement for Winter Session appears on Student Service Centre (SSC)

Summer Session funding timeline

March

UBC Summer Session Registration

March 31st: Deadline for completed Summer Session applications to receive one month tuition deferral 
May First week of classes
First Summer Session disbursement appears on Student Service Centre
July First week of classes
Second Summer Session disbursement appears on Student Service Centre

Application process

  1. Complete the US Loan Request form and email it to usloans.inquiry@ubc.ca.

    1. If you're applying for both Stafford and Parent PLUS loans, please submit one form and indicate that you are requesting both types of funding.

    2. If you want funding for the full academic year, avoid having to submit multiple applications by applying for the entire session.

      1. Undergrad students: select “Winter Session loan” for September to April.

      2. Graduate students: select “Full year loan” (September to August).

  2. Complete the FAFSA application using UBC's school code: G08369.

  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. 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.

    1. If this is your first Stafford application at UBC, this is also where you can complete your entrance counselling 

  5. 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.

US loan request forms

Contact us