Sallie Mae Private Loans

US private loans like Sallie Mae are a useful option for undergraduate and graduate students who are not eligible for Direct Loans, or for students who wish to apply for funding after a session is over. Funding is determined by your Cost of Attendance.

Currently, Sallie Mae is the only US private loan provider known to offer funding for students attending UBC. If you have questions about another private loan provider who has indicated they are able to fund you at UBC, please contact usloans.inquiry@ubc.ca.

Private loans often have higher interest rates than the rates for Direct Loans (Subsidized, Unsubsidized or PLUS). If you’re eligible for Direct Loans, it is best to explore that option first.

If you’re an independent undergraduate student or a dependent student whose parents did not apply or qualify for a Parent PLUS loan, private loans may be an option to supplement your Cost of Attendance.

Sallie Mae eligibility requirements

To be eligible for a Sallie Mae private loan, you must meet all of the following requirements:

  • You’re a US citizen or eligible non-citizen.
  • You’re registered in an eligible bachelor’s, master’s, or PhD program.
  • You’re registered in at least one course for each term funded by your loan. If you’re a graduate student, registration in a thesis is sufficient.
  • If you’re applying for funding for living costs, you must be registered in at least 6 credits for each term funded by your loan.

How to apply

Sallie Mae funding is an option for students in programs who are not eligible for Direct Loans, including:

  • Nursing and medical programs
  • Co-op terms with a placement in the US
  • Studying abroad at non-Title IV schools
  • Distance courses

If you are in a program that is not eligible for US Direct Loans, please email usloans.inquiry@ubc.ca.

All other applicants can submit an application online.

After you apply

  • Make sure your email address is correct on Workday as UBC will notify you on the status of your application through email. Learn how to add or change your contact information in Workday.
  • The lender will automatically notify UBC that your application has been submitted.
  • UBC will then complete your Cost of Attendance based on the specific costs of your program of study and costs of an acceptable standard of living. UBC will email you when your loan is approved.
  • To cancel your loan application, you can contact the lender directly during the Right of Cancellation period, which is 9 business days from the date of certification.
  • Once UBC receives your funding from Sallie Mae, it will be applied to your UBC tuition account.
  • If you have a Canadian bank account, you’re recommended to set up direct deposit. Direct deposit allows the loan amount exceeding your fees to be deposited directly into your bank account.

Additional resources

If you have questions

If you have questions, please contact your Enrolment Services Advisor directly.

For general questions, please call 604 822 9836 or submit a question through the online form.