Types of Loans
US students attending Concordia University of Edmonton may apply for the following loans through the William D. Ford Federal Direct Loan Program:
- Direct Loan – undergraduate (subsidized/unsubsidized)
- Direct Loan – graduate (unsubsidized)
- Parent PLUS Loan – dependent undergraduate
- Grad PLUS loan – graduate
Note: US students attending foreign schools are not eligible for the Pell grant.
Eligibility
- US citizens or permanent residents who are registered full-time in a degree program are eligible to apply.
- Students registered in the Bachelor of Education After Degree program are not eligible.
- Students in online or correspondence programs are not eligible.
Loan Limits
US Direct Loans are need-based (subsidized) and non-need based (unsubsidized) and are subject to annual and lifetime loan limits. The maximum amount you can borrow each year depends on your grade level, your cost of attendance and on whether you are a dependent student or an independent student.
Annual Loan Limits for Dependent and Independent Students:
| Grade Level | Dependent Student | Independent Student* |
| 1st year undergraduate | $5,500 (max. $3,500 subsidized) | $9,500 (max. $3,500 subsidized) |
| 2nd year undergraduate | $6,500 (max. $4,500 subsidized) | $10,500 (max. $4,500 subsidized) |
| 3rd year or higher undergraduate | $7,500 (max. $5,500 subsidized) | $12,500 (max. $5,500 subsidized) |
| Graduate | N/A | $20,500 (all unsubsidized) |
*and dependent students who parents cannot borrow a PLUS loan
For more information on annual loan limits and lifetime loan limits visit studentaid.gov.
Parent PLUS Loans are unsubsidized loans for the parents of dependent students and for graduate students. PLUS loans help pay for education expenses up to the cost of attendance minus all other financial assistance.
How Do I Apply for a US Direct Loan?
- Complete a FAFSA (Free Application for Federal Student Aid) for the current academic year. Concordia University of Edmonton’s federal code is G025938.
- Email Concordia’s Financial Aid and Awards office at finaid@concordia.ab.ca to advise us that you are applying for a US student loan. Give us your phone number so that we may contact you directly. We will contact you by phone to collect important information related to your application.
- E-sign a Master Promissory Note (MPN).
- Students who are first time borrowers of US Direct of Plus loans must complete online Entrance Counselling. The purpose of the counselling is to ensure that you understand your responsibilities regarding the loans. Continuing students are encouraged to complete an annual Student Loan Acknowledgment when accepting a new federal student loan.
Deadline to Apply
To ensure that your funding is ready for the start of the academic year in September, we recommend that you complete all parts of the application process and email us by July 15th.
US Direct Loan Consumer Information
As per the Higher Education Opportunity Act (HEOA) of 2008, the US government requires institutions offering US Direct Loans to disclose consumer information. If you require further information about the content, please contact us.
Student Responsibilities
You must be enrolled at least half-time in a degree program, maintain satisfactory academic progress requirements and general eligibility requirements for the Federal Student Aid program to be considered for aid under the Direct Loan Program.
Satisfactory Academic Progress
Exit Counselling
Before you withdraw, graduate, or drop below half-time attendance, regulations require that you complete an exit counselling session for your Direct Subsidized and Unsubsidized Loans. The counselling session provides information about how to manage your student loans in repayment. Visit studentaid.gov.