FAQs
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If approved for a US student loan, your loan will be submitted to the National Student Loan Data System (NSLDS), and will be accessible by guaranty agencies, lenders, and schools determined to be authorized users of the data system.
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Yes. US students are eligible to receive US Loan funding through UBC while attending an approved UBC exchange program. However, the exchange university must not be located within the US.
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Apply for your loan at least one month before the start of the term to ensure that your cheque arrives by the first week of classes.
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You are eligible to receive the maximum funding for your degree type and year – but the amount of subsidized funding you will receive depends on the information you provide in your FAFSA Student Aid Report.
Please review the loan maximums for undergraduate students and graduate students.
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The loan maximums apply to the academic year (September to August).
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Depending on your level of financial need, you may be eligible for subsidized funding if you apply for a Stafford loan. You do not pay interest on subsidized funding while you are studying.
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Unsubsidized funding refers to Stafford loan funding that you are charged interest on. Students typically receive a combination of unsubsidized and subsidized Stafford loan funding.
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A Parent PLUS loan is funding that parents can borrow to help pay for their child's education.
A Graduate PLUS loan is funding that graduate students can borrow, if they have already borrowed the maximum Stafford loan.
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Students attending UBC are not eligible for these types of funding. UBC is an international institution and only eligible to certify Title IV Federal Direct Loans.
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Please review the information on US loan repayment.
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The date your funds are disbursed depends on when you apply. Typically, if you submit your complete application at least one month before classes start, your loan funding will be available the first week of classes.
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Dropping a class can affect your eligibility for financial assistance. To maintain loan funding:
- Undergraduate students must stay registered in at least six credits per term
- Graduate students must stay registered in at least one class per term (non-credit classes are acceptable)
Please contact Student Financial Assistance & Awards if you intend to drop a class that may affect your loan eligibility.
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No. Distance Education classes do not count toward loan eligibility at this time.
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If you are registered as a full- or half-time student for the Summer Term you may be eligible for funding, provided you have not yet borrowed your yearly maximum.
- You must reapply for summer loan funding.
- You don't need to complete a FAFSA Student Aid Report if you already completed one for the current academic year
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Yes. Students must submit a new application for each academic year.
