US students can apply for student loans through the Direct Loan Program.
The application process is different than for students attending a school in the US. Please make sure that you submit everything we need to process your application.
To receive your loan funding by the first week of classes, apply at least one month before the start of the term.
Note: To receive PLUS loan funding, graduate students must have already received the maximum Stafford Loan funding and still have an assessed financial need. You can apply for both Stafford and PLUS loans at the same time, but you need to indicate a request for maximum Stafford funding on your US Loan Request form.
The Direct Loan Program is a government student loan program wherein the US Federal Government provides loan funding to post-secondary students and their parents.
Unsubsidized loans are not based on financial need. Interest is charged from the date the funds are provided. You can choose to either pay the interest while you are in school or have it added to the principal balance of your loan.
The amount you are able to borrow cannot exceed either the yearly borrowing limit or your estimated cost of attendance. For yearly borrowing limits, see loan maximums.
Graduate students can apply for Graduate PLUS Loans if they are applying for the maximum Stafford loan and require more funding. Total loans cannot exceed the cost of attendance.
Federal PLUS loans are not based on financial need. Interest is charged from the date the funds are provided.
Students applying for these loans must undergo a credit check by the US Federal Government.
Loan maximums apply to the entire academic year (September to August).
|Graduate students||Funding limit|
|All years of study||$20,500
There are no set maximums for Graduate PLUS loans. However, your Graduate PLUS loan will only cover your cost of attendance, minus any other financial aid.
|Cost of attendance (e.g., books, tuition, living allowance)||$24,560|
|Other financial aid (e.g., scholarships, Stafford loans)||$20,500|
|Eligible Graduate PLUS Loan amount||$4,060|
To be eligible for a Direct Loan, you must:
If you withdraw from study after receiving loan funding, your eligibility for that funding will be withdrawn. UBC will repay your lender with funds from your tuition account and you will be required to repay the amount to UBC.
If your GPA is below 60%, your future loan eligibility will be revoked (until you increase your GPA to at least 60%). Please contact us if you have any questions or concerns.
If you have any further questions about US loan funding please contact Student Services & Financial Support.
Last reviewed 8/23/2013 1:22:56 PM