Undergraduate students

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.

How to apply

To receive your loan funding by the first week of classes, apply at least one month before the start of the term.

Stafford Loan

  1. Complete a US Loan Request Form. Instructions for submitting it are indicated on the form.
    US Loan Request Form (338KB PDF)
  2. Complete a Master Promissory Note (MPN) at studentloans.gov.
  3. Complete the Free Application for Federal Student Aid (FAFSA) online. Note: UBC's Title IV school code is G08369.

Parent PLUS Loan

  1. Complete a US Loan Request Form. Instructions for submitting it are indicated on the form.
    US Loan Request Form (338KB PDF)
  2. Your parents complete a Master Promissory Note (MPN) at studentloans.gov.
  3. Complete the Free Application for Federal Student Aid (FAFSA) online. Note: UBC's Title IV school code is G08369.

After you've applied

  1. If you are receiving your first Stafford Loan at UBC, you must complete entrance counselling. Visit studentloans.gov for details.
  2. Read After you apply to find out your next steps.
  3. Ensure your email address is current in your Student Service Centre account.

Direct loan program

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.

Stafford Loans – subsidized

Subsidized loans are based on financial need. No interest is charged on these loans until you leave full-time study.

Stafford Loans – unsubsidized

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.

You may be eligible to receive a combination of subsidized and unsubsidized funding.

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.

Parent PLUS Loans

PLUS Loans are borrowed by parents to help pay the educational expenses of dependent children who are studying at the undergraduate level. These loans are not based on financial need and interest is charged from the date the funds are provided.

Parents applying for these loans must undergo a credit check by the US Federal Government.

Loan maximums

Stafford Loans

Loan maximums apply to the entire academic year (September to August).

Undergraduate students (dependent) Funding limits
First year $5,500 (no more than $3,500 subsidized)
Second year $6,500 (no more than $4,500 subsidized)
Third & fourth year $7,500 (no more than $5,500 subsidized)
Undergraduate students (independent) Funding limits
First year $9,500 (no more than $3,500 subsidized)
Second year $10,500 (no more than $4,500 subsidized)
Third & fourth year $12,500 (no more than $5,500 subsidized)

Parent PLUS Loans

There are no set maximums for PLUS Loans. However, your PLUS Loan will only cover your cost of attendance, minus any other financial aid. For example:

Examples Costs
Cost of attendance (books, tuition, living allowance) $30,000
Other financial aid (scholarships, Stafford loans, etc.) $5,500
Eligible PLUS Loan amount $24,500

Eligibility

To be eligible for a Direct Loan, you must:

  • be a US citizen, national, US permanent resident, or an eligible non-citizen
  • be registered as a full- or half-time student in an eligible program at UBC (visiting students and students in online programs are not eligible)
  • demonstrate satisfactory academic progress while at UBC
  • have a valid Social Security Number
  • comply with US Selective Service System registration requirements
  • be in good standing with any previous loans

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.

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Last reviewed 8/4/2011 1:27:37 PM

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