US Loans

Please note the following:

  • York University's school code is G07679.
  • Student Financial Services is the only office at York University that can originate US student loans and complete Veteran Affairs Enrolment forms. Please contact once you register and add courses, for each term, to have your Veteran Affairs Enrolment Verification completed.
  • Students studying outside the US are not eligible for Pell Grants.
  • Direct Loans cannot be provided for internet or telecommunication courses.

Direct Loan Program

US citizens and permanent residents studying in an undergraduate or graduate program at York University can apply for Direct Loans through the U.S. Department of Education. The FAFSA application will be available for the next academic session as of October 1 of each year.

  • A subsidized loan is granted on the basis of financial need. Students who are registered full-time are eligible for this loan and will not be charged interest during the study period. Effective July 1, 2012, interest will be charged during the 6-month grace period.
  • As unsubsidized loans are not awarded on the basis of need, interest will be charged from the time the loan is disbursed until it has been repaid in full. For additional information, visit the Federal Student Aid website.

To understand how these loans are calculated and details about annual maximums and limits, see the How Loans are Calculated tab below.

Application Steps
  1. Complete the Free Application for Federal Student Aid (FAFSA) form (York University's school code is G07679).
  2. Complete the online Master Promissory Note (MPN) form. To facilitate the process of your loans, you must complete your MPN with an electronic signature. You must complete a new MPN each year you apply for financial aid to ensure funds will be available to complete your studies.
  3. Complete the Direct Loan Entrance Counselling, and Plus Loan Entrance Counselling if applicable, as required by the US Department of Education at the Students Loans Web site.
  4. Complete the US Student Information form and submit all documentation to Student Financial Services using one of these methods:
    1. Fax to 416-736-5386, OR
    2. E-mail the form in pdf format to

If you require an award letter for your Visa, please e-mail

*Summer Loans:

  • If you are a first-time applicant, please follow the four application steps as outlined above.
  • If you are a continuing student, please complete steps 2 and 4 detailed in the above section.

To be eligible for US financial aid, students must be enrolled in a degree granting program. Direct Loans may not be awarded to U.S. students enrolled in the Nursing program. Direct Loans may not be awarded for Certificate, Diploma or Foundation programs. Only programs located at the Keele Campus, Glendon Campus and Markham Campus will be eligible for Title IV funds. Programs located at satellite facilities will be ineligible. Please use the York Program Search tool to explore all the programs available.

Significant changes for loan eligibility have been announced by the United States Department of Education for US students who are studying abroad. If any component of a course is delivered online, through videos, tapes or via any other electronic media, students will lose all of the federal loan funding for their entire year of study. Any program which includes telecommunication courses (attending class online) is ineligible for Title IV funding. No part of a course or a program may include telecommunications. US students at York are strongly advised to carefully consider which courses they will enrol in to ensure that they comply with this legislation.

For more information on eligibility criteria, visit the Federal Student Loans website.

Satisfactory Academic Progress

U.S. Satisfactory Academic Progress Policy

The US Department of Education regulations state that in order to maintain eligibility for US financial aid, students must meet Satisfactory Academic Progress (SAP) in their program of study as established by the University. Financial aid includes the Direct Loan Program (subsidized and unsubsidized), Direct PLUS and Direct GRAD loans.

To determine if satisfactory academic progress is met, grades will be reviewed at the end of each academic year. Students that do not meet SAP will not be eligible for US Direct loan funding for the following academic year. Academic progress for summer will be reviewed at the end of the term.

You must meet the following requirements for Satisfactory Academic Progress:

Full-time undergraduate students

  • Complete and pass a minimum of 20 credits per year. You must maintain a minimum of 67% of your course load (20 out of 30 credits) throughout your studies.
  • Maintain a minimum grade point average (GPA) of 4.0 (C average) for Ordinary Degree or 5.0 (C+ average) for Honors Degree; for further details on grades please refer to the information on grades and grading schemes in the Academic Calendar.
  • Complete the degree within a maximum time frame

Part-time undergraduate students

Students who choose to study on a part time basis may be eligible for aid however, they may not complete the program within the maximum time frame set by the US government.

Graduate students

  • May be enrolled as full-time (F/T) or part-time (P/T)
  • P is passing grade
  • Must complete the degree within a maximum time frame

Expectations for degree completion time

Undergraduate degrees

  • Honours - 120 credits: you must complete and pass at least 20 credits per year (which includes the summer term) within a 6-year period
  • Ordinary - 90 credits: you must complete and pass at least 20 credits per year (which includes the summer term) within a 4.5-year period

Graduate degrees

  • Graduate - 1 year: you must complete and pass within 1.5 years (which includes the summer term)
  • Graduate - 2 years: you must complete and pass within 3 years (which includes the summer term)
  • Ph.D. - 4 years: you must complete and pass within 6 years (which includes the summer term)

Transfer credits will be counted towards the maximum time frame. If a student completes their first degree and continues in another degree credits will restart at 0 and new credit limits will apply.

Changes to an unrelated major while enrolled in a current degree may impact the expected time frame to complete the new degree.

Credit Completion

Repeated courses, withdrawals and incompletes count toward credit completion. Non-credited courses will not be considered in the determination of satisfactory academic progress.

Periods when a student does not receive US financial aid are counted towards the maximum time frame. Failing repeated courses that you previously passed results in 0 credits completed.

Grade changes that impact the determination of credit time frame completion or grade point averages will hold the processing of further US financial aid.

Satisfactory Academic Progress Appeals

Students that do not meet SAP will receive an email confirming their grade point average after we have reviewed it for the academic year. Students may appeal SAP before the next academic session begins. The appeal process requires students to submit a letter of explanation. An explanation of the following must be included in the letter:

  • the circumstances that contributed to the lack of academic progress, e.g., medical conditions, family crisis, financial difficulties
  • Why the student failed to meet the Satisfactory Academic Progress requirements
  • What has changed in the student’s situation which will allow them to meet Satisfactory Academic Progress requirements at the next evaluation
  • strategies to improve academic progress
  • related documentation to support the appeal

Students can submit their appeals, with supporting documentation for review to the Financial Aid Office. Students will receive confirmation of the appeal decision in writing. For successful appeals students will be placed on academic probation for one term. During the probation period students are responsible for maintaining SAP. Students who fail to meet SAP will be notified of their ineligibility for further financial aid under the Direct Loan Program.

Students who are unable to appeal or are denied their appeal request, will be responsible for any tuition fees charged to their student account. Students can continue to enroll in courses and would be able to re-establish US Loan funding if Satisfactory Academic Progress requirements are met. Students would need to re-apply for this funding to determine eligibility.

Withdrawals and Refunds

Please refer to the Add/Drop dates that are found on the Important Dates webpage

A student’s Satisfactory Academic Progress will be impacted by courses that are withdrawn after the last day to drop a course without receiving a grade and receive a grade of “W”. Student’s overall GPA calculations will be subject to add/drop courses per the add/drop deadlines.

Students that withdraw from their program will be reassessed to determine if they were eligible to receive all or part of the US funding that was disbursed. The percentage of aid that must be returned by the student and the university is based on the number of days in attendance and by the number of days remaining in the study period. A repayment would not be required if students attend more than 60% of the year before withdrawing.

Students are responsible for notifying the Financial Aid Office within 10 business days of their withdrawal. The university will be responsible to return any unearned funds to the US Government of Education within 30 days from the withdrawal date.

If students do not receive all the funds earned they may be eligible for a post-withdrawal disbursement.

Once the student officially withdraws from the university the date is indicated on the student record by the Registrar’s Office. This date will be used in the withdrawal calculation.

Students will be considered to have an unofficial withdrawal when their record indicates all failing grades and they can document attendance in at least one of their classes. The withdrawal date will be deemed to be the mid-point of the payment period. If a student cannot document attendance for at least one of their classes all Direct Loan funding will be cancelled and returned to the U.S. Department of Education.

Return to Title IV Funds Policy

When returning Title IV funds, they must be returned in the following order:

  1. Unsubsidized Direct Loans
  2. Subsidized Direct Loans
  3. Direct PLUS loans

Post-Withdrawal Disbursement (PWD)

If the student did not receive all the funds that were earned prior to withdrawing, a post-withdrawal disbursement may be required. Loans will be offered to the student within 30 days, allowing the student at least 14 days to respond. The school must receive the student’s permission before the funds are disbursed. Students may choose to decline some or all of the loan funds so that no additional debt is incurred. All post-withdrawal disbursements are applied to the student’s account first, and any resulting credit balance is disbursed to the student within 14 days.

If the amount to be returned exceeds the school’s portion, the student must return the remaining amount. Any loan funds that the student must return, you, or your parent for a Direct PLUS Loan, must repay in accordance with the terms of the promissory note.

Dates and Deadlines

Application Processing Dates and Deadlines

  • New loan applications cannot be completed until final acceptance to York University has been confirmed.
  • Processing of applications for the upcoming academic year begins in July.
  • Students must submit their required documentation to Student Financial Services by June 30 to ensure the timely release of their loan documents.
  • Loan applications received in late August and September may be delayed due to the volume of requests; therefore, outstanding student account balances may be subject to interest charges.
  • Processing U.S. student loans can take up to 6 weeks from July 1.
  • Funds can only be posted to your student account after the first day of classes.
  • As per U.S. Department of Education guidelines, student loans can only be originated 10 days prior to the first day of classes.

Notification that your Government Loan has Arrived

Once your government student funds are received at York University from the U.S. authorities, they will be posted to your Student Account Online Statement. Please note that the U.S. exchange rate is effective the day the funds are posted to your student account.

You will also receive an e-mail outlining the amount of funds you have been awarded for your current academic session.

PLUS Loans


Parents of dependent undergraduate students may apply for a Parent Loan for Undergraduate Students (PLUS Loan). Students can be eligible to apply for both Direct and PLUS Loans. However, it is not necessary for a student to apply for a Direct Loan to be eligible for a PLUS Loan. If you choose to apply for both, you are required to apply for the Direct loan first. A PLUS loan is credit based: therefore, a credit check will be completed by the U.S. Department of Education before the loan is approved. To complete the PLUS loan request and the Master Promissory Note, please visit the website.

Graduate/Professional PLUS (Grad PLUS) Loans

The grad PLUS loan is available only to students that are enrolled in a graduate and/or professional-level degree program. Students must borrow the maximum annual amount of the federal Direct loan before they can borrow under the graduate PLUS program.

The loan limit for each academic year is the cost of attendance minus other financial assistance. The grad PLUS loan is credit-based: therefore, a credit check will be completed by the US Department of Education before the loan is approved. Repayment begins 60 days after the loan has been fully disbursed. Graduate and/or professional degree student borrowers can be eligible for in-school deferment (only interest is charged) while enrolled in at least part-time studies. The In-school Deferment form must be completed by the institution. To complete the PLUS loan request and the Master Promissory Note, please visit the Federal Student Loans website.


Entrance Counselling for Direct and Grad PLUS Loan Borrowers

The U.S. Department of Education requires that all first-time Direct loan and Grad PLUS loan borrowers complete entrance counselling prior to receiving their loan funds. This online session will explain the rights and obligations of the borrower as well as provide information on how to manage your student loans. Loan funds cannot be disbursed until the counseling session has been completed. The institution will be notified when the session is complete. You can complete entrance counselling online at the Federal Student Loans website.

Exit Counselling

All graduating students are required to complete exit counselling during their final term of studies and prior to graduation. Exit counselling must also be completed if you are dropping to part-time enrolment status or withdrawing from school. You can complete the process online at the Federal Student Loans website.

How Loans are Calculated

Loan Amount

The amount a student receives for their subsidized loan is based on the information the student provides when completing the FAFSA form. The unsubsidized loan is calculated based on the cost of education minus other sources of financial aid and loans. Through both programs, you may borrow the maximum amounts listed below.

How the Loan is Calculated

The loan amounts are calculated by the following formulas (see definitions below):

  • Subsidized loan = (COA) - (EFC) - (EFA)
  • Unsubsidized loan = (COA) - (Subsidized Loan) - (EFA)
  • The Cost of Attendance = (COA) - (EFC) - (EFA)

The Cost of Attendance (COA) includes not only tuition and fees but also living expenses, books, supplies, personal expenses and transportation costs for the eight-month period while you will be in school.

The Expected Family Contribution (EFC) is based on the student's (and if applicable, the student's family's) income and assets, as was reported on the FAFSA form. The EFC is reported on the SAR and the Institutional Student Information Record (ISIR). It is based on an eight months period of enrolment.

The Estimated Financial Assistance (EFA) usually takes the form of scholarships, grants, loans or work that is awarded on the basis of postsecondary enrolment.

Note: all loan amounts issued are in U.S. funds.

Direct Loan Program Annual Maximums for Undergraduate Students

Dependency Status Grade Level Subsidized Loan (USD) Unsubsidized Loan (USD) Total (USD) Additional Unsubsidized Loan if PLUS Loan is Denied (USD) Total if PLUS Loan is Denied (USD)
Dependent Undergraduates Year 1
$3,500 $2,000 $5,500 $4,000 $9,500
Year 2
$4,500 $2,000 $6,500 $4,000 $10,500
Year 3
$5,500 $2,000 $7,500 $5,000 $12,500
Year 4
$5,500 $2,000 $7,500 $5,000 $12,500
Independent Undergraduates Year 1
$3,500 $6,000 $9,500 N/A
Year 2
$4,500 $6,000 $10,500
Year 3
$5,500 $7,000 $12,500
Year 4
$5,500 $7,000 $12,500

Annual Loan Limits for Graduate and Professional Students

Grade Level Unsubsidized Loan
Graduate or Professional $20,500

Aggregate Lifetime Direct Loan Limits

The aggregate loan limit is the amount of aid that a student may borrow under the Direct Loan program.

Grade Level Aggregate Limit of Subsidized and Unsubsidized Direct Loans
Undergraduate (Dependent) $31,000 (maximum $23,000 subsidized loan)
Undergraduate (Independent) $57,500 (maximum $23,000 subsidized loan)
Graduate $138,500 maximum
Private Loans

Private loans are available to students who require additional funding to meet their educational expenses. Students should apply for the Direct loan first and then apply for additional funding. Please note that this is a credit-based loan program, thus students must have a satisfactory credit history in order to qualify. Students registered in non-degree programs may be eligible to apply for private loans. More information on private loans for US students can be found on the Global Education website.

Note: York University abides by the following prohibitions: revenue sharing arrangement with any lender, receiving gift from lender, contracting arrangement, directing borrowers to particular lender, offer of funds for private loans, advisory board compensation.

Consumer Information

U.S. Student Loans Consumer Information

Financial Aid Information:
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  • Eligibility
  • Entrance and Exit Counseling
  • School Contact information
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NSLDS Information:

Direct Loan Information:

Scholarship Information:

General Information:

Admissions Information:
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  • Transfer credits

General Program information:

Transfer Credit Policy:

Cost of Attendance Information





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Graduation, Retention and Employment Information

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