US student loans
American students can apply for government loans from Federal Student Aid and from private lenders in the US. In both cases, you'll need to submit paperwork to UVic so that we can confirm your enrolment. Funds will be sent directly to UVic and applied to your tuition fees.
Government loans
The William D. Ford Federal Direct Loan Program provides student loans from the US Department of Education. Your application will be evaluated for both subsidized and unsubsidized loans.
- Subsidized loans are interest-free for as long as the student is registered in full-time degree studies.
- Unsubsidized loans accrue interest immediately.
Private student loans
You may wish to apply for a private student loan in addition to (or instead of) a government loan.
- Interest accrues immediately (at higher rates than government loans).
- You can only borrow up to the cost of attendance.
Eligibility
Government loans
US citizens or permanent residents enrolled in UVic full-time degree programs can apply for Direct Loans managed by Federal Student Aid (FSA), but are not eligible for grant programs (e.g. Pell Grants and TEACH Grants).
Visit StudentAid.gov for general eligibility requirements.
- Dual citizens may be able to apply for loans through both the US and Canadian governments.
- If you're receiving an Ontario student loan and/or grant, you are not eligible to receive US Direct Loan funding.
- Eligible parents of dependent undergraduate students can receive up to $20,000 USD per dependent per academic year (Sept-Aug), with a lifetime limit of $65,000 USD.
- Students must complete US loan request forms even if Parent PLUS loans are the only funding requested.
- Visit StudentAid.gov to learn more about Direct PLUS Loans for Parents.
Private student loans
UVic requires students applying for private loans to meet the eligibility requirements for government loans.
How loans are calculated
Government loans and private student loans are based on your cost of attendance, which includes tuition and student fees, books, a return transportation allowance and a standard living allowance. UVic will calculate your loan amount based on your cost of attendance and your available funds (savings, education funds, awards, etc.).
- Government loans are subject to annual loan limits.
- Private student loans are limited to the cost of attendance.
Undergraduate students
Undergraduate students must maintain registration in a minimum 60% course load in each academic term. If your course load is less than 100%, you'll receive a reduced loan amount.
- 60% course load = 4.5 UVic units
- 80% course load = 6.0 UVic units
- 100% course load = 7.5 UVic units or more
Waitlisted, duplicate and mutually exclusive courses do not count towards course load.
Graduate students
Full-time graduate students can receive up to $20,500 USD per academic year (Sept-Aug) in government loans, while part-time students receive a reduced loan amount.
Registration status for graduate studies is defined in the academic calendar.
Course restrictions
Students receiving government loans must choose courses that meet the following requirements. These restrictions don't apply to private student loans.
Online courses and distance education
- Courses must not include online classes, correspondence components or direct assessment.
- Distance-education technologies may be used to supplement on-campus instruction where the students and instructor are physically present.
Courses held in the US
- Courses must not take place in the United States, including research, work, internship, externship or special studies.
Joint instruction with ineligible partner schools
- Courses must not include partial instruction by partner schools that are not eligible for Direct Loans.
- UVic does not have any agreements with other institutions to provide partial instruction.
How to apply
1. Register for government loans
If you're applying for government loans, the following steps must be completed for every academic year (Sept-Aug).
- Submit the Free Application for Federal Student Aid (FAFSA) form.
- Complete FSA's Student Loan Entrance Counseling Requirement.
- Sign FSA's Master Promissory Note.
2. Submit a loan request to UVic
Complete the US loan request form and submit it to Student Awards & Financial Aid. This should be done for every academic term.
Your loan request should be submitted before the deadline, but only after you've registered for courses for the upcoming academic term/session.
| Academic term/session | Deadline |
|---|---|
| Fall Term (Sept-Dec) | August 1 |
| Spring Term (Jan-Apr) | November 1 |
| Summer Session (May-Aug) | April 1 |
Late applications are processed on an on-going basis.
3. Receive your funds
Your funds will be sent directly to UVic, converted to Canadian currency and deposited into your student tuition fees account.
Changes to your registration
If your registration changes, the US government requires that your loan be recalculated based on your new status. This is not required for private student loans.
Undergraduate students
- If you change courses and maintain the same number of UVic units, your course load remains the same and you don't need to have your loan recalculated.
- For example, dropping a 1.5-unit course and accepting a waitlist offer for another 1.5-unit course.
- If you add courses up to the maximum 100% course load, your loan can be increased.
- If you drop courses and reduce your course load, you'll be required to pay back excess funds immediately. This should be avoided.
Graduate students
- If your registration changes from part-time to full-time, your loan will be increased.
- If your registration changes from full-time to part-time, your loan will be decreased.
Exchange programs
If you want to participate in an outgoing exchange program through UVic, you can still apply for government loans following UVic's procedures. The exchange school must:
- participate in the Direct Loan program, and
- be located outside of the US
You'll need to provide the exchange school's Federal School Code when you submit your loan request to UVic.
Make sure you maintain your eligibility
- If you attend a school that isn't eligible for Direct Loans, you may become ineligible for future government loans and be required to pay back any previous funding you've received.
- You also need to ensure that your exchange courses meet the course restrictions.
Study abroad programs
UVic students participating in Study Abroad programs are not eligible to receive loans through UVic. If you arrange your own study abroad opportunity, you'll need to make arrangements with that school for financial aid.
The University of Victoria does not participate in Study Abroad consortium agreements.
Additional information
Students are strongly advised to familiarize themselves with the following US government and alternative loan regulations information and essential policy relevant to their circumstances.
- One Big Beautiful Bill Act
- Maintaining your eligibility - course load and Satisfactory Academic Progress Policy (SAP)
- Return to Title IV Policy
- USDL Consumer Information
- Withdrawal from studies
- Refunds
- Entrance counselling
- Exit counselling
- Default Management Plan
- Study Abroad
- If you're registered in at least a half-time course load, you are eligible for in-school deferment for your current study period.
- US students who have access to Section 529 savings plans may be eligible to utilize these resources while studying at UVic.
- To maximize US Federal Tax benefits associated with Section 529 savings plans, students need to ensure that their savings plan's administrator is informed of the Federal School Code for UVic (G08370).
- Contact the UVic Tuition Office to arrange for payments from Section 529 savings plans.
Contact us
Do you need help determining your eligibility or completing your funding application? Got a question about maintaining your funding? Have a form you need signed? We're here to provide you with advice and guidance.
You can also visit us in the Jamie Cassels Centre during regular office hours.