American Student Loans

Even though you’re attending a Canadian institution, you may be eligible for U.S.-based financial assistance. Stafford Loans, Subsidized, Unsubsidized, PLUS Loans, and Veterans Administration Grants are all available for study in Canada. Pell Grants cannot be used. Visit www.fafsa.ed.gov for more information (or to apply) or call the Admissions office at 1-800-667-5199.
If you will be using student loans to pay for your education, "The Student Loan Plan" is for you. To use this plan, you must have loan approval and confirmation of loan funds by September 30 for the first semester and January 30 for the second semester. If your student loan is not confirmed by these dates, you must be prepared to enter one of the other payment plans available. If your student loan is not enough to cover all of your costs for each semester, you will be expected to make payment arrangements for the difference with post-dated cheques, by credit card, or by pre-authorized debit.
How to get a Federal Stafford Loan to Study Outside the United States
Below is an outline of how to access US federal and private loan programs outside the United States. The aid process is similar to applying for aid at a US based institution; however, there are some key differences that do make applying for aid outside the US different.
Schools outside the US cannot currently receive the electronic FAFSA application to access aid other than Federal Stafford and Parent PLUS loans or use the Master Promissory Note (MPN) for more than one year at a time.
By being proactive, however, and following the steps outlined below, you should still be able to access your aid quickly.
What will I be eligible for?
Undergraduate students receiving their degree overseas will be eligible for Stafford Student Loans. Students studying outside the US are not eligible for US federal grant programs.
Your Stafford loan eligibility will vary based on the information from your FAFSA and your grade level. See chart:
Undergraduate Dependent Students (Under 23 yrs old, unmarried, no children, not in the US military service)
Subsidized Stafford Loans (Government pays interest for you while you are a full-time student)
Unsubsidized Stafford Loans(You pay monthly interest from disbursement date or have it capitalized on loan)
Total Combined Stafford loan amount (if eligible) based on Student Aid Report
Year 1 (24-30 credit hours completed)
$3,500 USD
$2,000 USD
$5,500 USD
Year 2 (31-60 credit hours completed)
$4,500 USD
$2,000 USD
$6,500 USD
Years 3-5 (61-95 credit hours completed)
$5,500 USD
$2,000 USD
$7,500 USD
Undergraduate Independent Students (over 23 years old, married, divorced, children, or in the US military service)
Subsidized Stafford Loans (Government pays interest for you while you are a full-time student)
Unsubsidized Stafford Loans(You pay monthly interest from disbursement date or have it capitalized on loan)
Total Combined Stafford loan amount (if eligible) based on Student Aid Report
Year 1 (24-30 credit hours completed)
$3,500 USD
$6,000 USD
$9,500 USD
Year 2 (31-60 credit hours completed)
$4,500 USD
$6,000 USD
$10,500 USD
Years 3-5 (61-95 credit hours completed)
$5,500 USD
$7,000 USD
$12,500 USD
You may borrow additional amounts each year above the Stafford amounts through the Parent PLUS Loan Program. The maximum amount you may borrow is established by the School based on the Cost of Attendance (COA).
There may also be private, credit-based loans available to you; however, your total aid can never exceed the COA. The Signature loan program through Sallie Mae is an option as a credit-based loan.
Graduate students in a one-year (or more) program
Typically, a graduate student will be eligible to borrow $20,500 in Federal Stafford Loans. Depending on your eligibility, up to $8,500 may be Subsidized Stafford Loan.
Graduate students
SubsidizedStafford Loan
UnsubsidizedStafford Loan
Total CombinedStafford loan amount (if eligible) based on Student Aid Report
8,500 USD
2,000 USD
20,500 USD
Additional amounts may be borrowed each year above this amount through Graduate PLUS Loan Program and private, credit-based loans. The maximum amount you may borrow is established by the university based on the Cost of Attendance (COA).
Accessing the Stafford Student Loans in Four Basic Steps