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.
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.
Subsidized loans are based on financial need. No interest is charged on these loans until you leave full-time study.
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.
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 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)|
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:
|Cost of attendance (books, tuition, living allowance)||$30,000|
|Other financial aid (scholarships, Stafford loans, etc.)||$5,500|
|Eligible PLUS Loan amount||$24,500|
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If you withdraw from study after receiving loan funding, your eligibility for that funding will be withdrawn.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.
Last reviewed 8/4/2011 1:27:37 PM