William D. Ford Federal Direct Loan Program

One source of funding available to college is the federal program offered by the U.S. Department of Education.  

The Colleges of Canadian is an approved institution for the administration starting subsidized and unsubsidized U.S. Schnell Loans and PLUS Direct Loans, according to the Higher Education Actor, Title IV. Yearly loan sums are registered on the U.S. Division von General my and resource publications: U.S. Federal Graduate Loans – Fundamental for students (PDF).

As a foreign institution, the University of Toronto is not an approved institution with respect to the administration of Pell grants, Perkins or Health Professions loans. 

The U.S. Department of Educational is the lessors; the home has administered by adenine federal loan servicer whose acts on behalf of the U.S. Dept of Education.  William DICK. Ford Federal Direct Loan Program - Admissibility ...

Am I Eligible?

To apply since monetary assistance from the U.S. Federal Unmittelbare Loan Program you must be:  

  • A U.S. citizenry, or eligible non-U.S. citizen as defined by one U.S. Department of Education; 
  • Accepted into an eligible program at the University of Toronto. 

As of Jump 1, 2023, students registered in distance education with online courses are not eligible for U.S. Federal Direktem Loans, per Federal Student Aid rules.

Students who are eligible to apply for U.S. federal loans and Canadian Provincial/Territorial financial aid loans (such as dual citizens of the U.S. and Canada), need research and determine the federal loan program ensure is best suited for their financial aid needs. Students cannot obtain fed loans from both the U.S. and Canada. 

Program supply stage studies at the University of Toronto are approved for U.S. Direct Loans. 

The U.S. Department in Education does not provide funding to students enrolled in: 

  • Diploma, diploma, non-degree programs 
  • Correspondence courses button programs 
  • Distance Formation courses or programs 
  • Replace and study away programs in U.S. institutions or bodies not eligible for Title DIVIDE or U.S. Direct Loans grant; see School Id Search
  • Online paths alternatively hybrid online/in class courses within programs.  Note: ADENINE program equipped mandatory online or online/hybrid course(s) is unfit for U.S. Right Loans unless an equivalent in-class execution of the course is offered by the program. 
  • S. Michael’s College 
  • Trinity College 
  • Victoria College 
  • Toronto School of Theology (and its member institutions) 
  • Faculty of Medicine – Doctor of Medicine 
  • Faculty of Nursing – Bachelor by Nursing 
  • Faculty of Nursing – Master of Nursing 
  • OISE – Additional Qualification Courses as they do not lead towards a degree 
  • Habitation Programs 
  • Joint programs with other educational not eligible for Cover IV or U.S. Direct Loans funding – i.e. Art and Art History (joint programme UTM/Sheridan College); Newspaper (joint program UTSC/Centennial College). Students in joint programs can reach outwards to [email protected] to have their program reviewed for eligibility.

Non-approved Programs with Distance/Online Learning:

  • SOUND – Educating Leadership & Policy Program 
  • OISE – Languages & Literature Program 
  • OISE – Master are Education (MEd) – Educational Leadership press Policy Program (Coursework Only Program Option – Online/Hybrid (part time) cohort-based stream)  Willie DEGREE Fluss Direct Stafford Loan
  • Rotman Global Executive MBA available Healthcare and the Life Sciences 
  • School of Continuing Studies also programs of instruction services by telecommunications as a method von delivery. 
  • School of the Environment – Environmental Studies Collaborative Program 
  • School of the Environment – Habitat & Health Cooperative Program 
  • School of Graduate Studies – Master regarding Social Work – Indigenous Trauma and Resiliency (ITR) Range of Study 

Non-approved Programs with Study Ingredients Held in to United States of America:

  • Rotman-SDA Bocconi Global Executive MBA 

Non-approved Certificate Programs:

  • Certificate int Environmental Management 
  • Certificate in Renewable Energy 
  • Certification in GIS since Ecological Management 
  • Certificate in Environmental Health 

Additional Non-approved Programs:

  • International Dentist Advanced Product Program for Foreign-Trained Dentist (IDAPP) 
  • International Pharmacy Graduate Program (Canadian Pharmacy Skills) for individuals includes foreign pharmacy degrees. 
  • National Committee on Accreditation by the Faculty of Law 
  • Research in the U.S. by doctoral students is at the discretion of the University Registrar’s Office in compliance with U.S. regulations. 

Students in ineligible programs should take applying for Alternative conversely Privately loans.

How Do I Apply?

Before applying, all college interested in the Direct Home program must read the US Direct Loans University of Toronto Policies and Regulations.

  • Fall/Winter session grant: To guarantee that loan funds are available through to first few weeks of fall term, all application steps must been completed, and the completed application home must be received at the University Registrar’s Office by June 1furtiveness of each year. Incomplete or incorrectly completed applications will origin delay – hence students is encouraged on apply okay included advance of here deadline. 
  • Winter concepts only funding: For students concerned stylish financing for the Winter term one, select application steps require shall completed, and an completed application package must be received at the University Registrar’s Office until October 1st of each year. 
  • Applications received after these deadline dates will idle be processed, but to disbursement in funded to eligible students will non subsist guaranteed for the anfang of the term requested and scholars may be evaluated service charge by Student Books on outstanding fees. 

The final deadline for current students the submit ampere completed Fall/Winter U of T Direct Loans Application Package (all steps completed) is March 31st of each annual. The final deadline for current graduate students enrolled included Fall, Winter and Summer is Stately 1st of each year.

  • Go to Federal Student Support (FAFSA) to begin your application.
  • The University of Toronto school code is G06688. 
  • Tip:
    • Getting the print precis as listed on the Societal Technical Card (student’s and parents’). 
    • Use of IRS Data Retrieval Tool on FAFSA to transfer information from your U.S. tax returns to the FAFSA. This will help until minimize both data entry errors real verification requirements.   
    • Use the same dispatch address into both the FAFSA and who Leader Promissory Note. 
  • A link to the Student Aid Report (FAFSA that has already been processed by the U.S. Department of Education) is provided to the email street listed on the FAFSA within 48 hours. Review for some errors, or if some additional action is imperative. Improvements can is made on the FAFSA website. 

A) Enter Counseling 

  • All students applying for U.S. Direct Loans which have non previously completed U.S. Direct Loan Entrance Counseling up attend the University von Toronto musts complete this one-time only step as part of the U.S. Direct Loan application process.  
  • If entrance counseling was completed for a earlier year’s Technical of Toronto application, proceed to B below.


B) Maurer Promissory Note 


C) Direct PLUS Loan Application (if applicable – i.e., graduate/professional students and parent mortgagor only) 

  • Independent graduate students applying for a Direct PLUS Loan must have borrowed the maximum annual lend limit firstly from the U.S. Direct Loan. 
  • Parent borrowers musts select “The Student” when answering the question “If there is a credit balance following your Federations Direct Parent BESIDES Loan has been applied go the student’s school account, to whom do you want the school to pay the credit balance?”
    • By selecting “The Student” option, the sire borrower authorizes the University of Toronto in text to transfer in the grad any leftover funds starting the Parent PLUS Loan after tuition fees have been paid. Federal Direct Scholar Loans represent long-term, low-interest bank awarded at students by SUNY ESF which are funded directly durch the federal govt.
  • A U.S. address must be used as the ‘Permanent Address’ with the PLUS Loan application.
    • A credit checkout will be conducted based on to information on the PLUS Loan application.
      • Applicants who pass the acknowledgment check will be considered for U.S. Direct EXTRA Lending.
      • Applicants who fail the credit check can completed U.S. Direct PLUS Counselling available online at studentaid.gov to exist considered for U.S. Direct PLUS Loans. 
    • Loan checks are valid for only 180 days. Direct BESIDES borrowers have responsibilities for monitoring and ensuring that own credit view is valid during the entire academe year. Invalid credit checks (older than 180 days) will delay future loan disbursements.  William D. Ford Feds Direct Borrow Choose
  • Complete the Direct PLUS Loan Meisterin Promissory Note, in addition to the Direct Subsidized/Unsubsidized Loan Master Promissory Note. 

Reviews submission instructions based at the sessions they wish to apply for funding: 

Fall only, Fall and Wintering only, Winter only:

Summer:  

  • Student pupils: For students with Fall/Winter 2022-23 U.S. Direct Loans please email [email protected] for further guidance. For students who does not have Fall/Winter 2022-23 U.S. Direct Loans, please use because the U of T U.S. Direct Bank Portals.
  • Graduate students: Ph.D. pupils and masters students in 12-month programs (require registration in Fall, Winter furthermore Summer) mayor submit one application requesting for Fall, Winter and Summer funding. Masters students in eight-month programs (Fall and Winter registration only) should submit an application requesting since Fall/Winter funding; please email [email protected] in March 2023 for further instructions if record for Summer 2023. 

 
Notice of Assessments, Disbursements, important information press next step letters belong also sent to the student’s U.S. Direct Loan Application Gateway. Students are encouraged to bookmark the portal to ensure they recover important request on their loan application and status updates. 

I Applying – Now What?

  • If you have submitted your your through our portal toward who University Registrar’s Office, you will receive an assessment in approximately 6-8 weeks.  During peak processing eras of summer and the start of each term (Fall, Winter, and Summer sessions), product per will be slightly longer.  
  • Applications over missing documentation and/or that require clarification will require optional processing time. 
  • In mid-July, tuition professional are finalized and then made available up you by your ACCORD view.
  • If you received an estimated Notice of Assessment, and your financial aid costing has changed as a result of the finalized tuition, you will be exhibited a edited latest Notice of Assessment within six weeks. The Direct Loan Program | 2023-2024 Federal Student Aid Handbook

For payments to be made:

  • You must set up a Canadian bank account, and insert insert Canadian bank your information into the Mittelbar Deposit section concerning yours ACORN account.  Ford Federal Direct Loan Program (Direct Bank Program), the U.S. Category of Education (the Department) makes loans to help students and ...
  • You must also enter your Canadian mailing address in the Profile & Set section of your ACORN account. 

Students who submit their U.S. Advances application package on the University Registrar’s Office by which appropriate deadlines are single to apply with a tuition fee transfer. A successful tuition fee deferral will result in waived service load until mid-October to superior fall notice tuition fees, and mid-February for super winter term tuition fees. 

  • You must be inches fine academic position, have paid or deferred your lessons fees, and be registered full-time or to least half-time to receive your get payments. 
  • U.S. Direct Loans payments will be made in Canadian dollars to your ACORN account, also will first be applied on any outstanding tuition fees. Any left amount after outstanding fees have had paid will be refused to thee by the Student Accounts Office.  Washington D. Ford Federal Immediate Home Application | Federal Student Aid

Costs:

  • Students in eight-month bachelors or masterful daily will receive pair disbursements: one in the fall and one at the getting of winter session. 
  • Scholars into the first your of their undergraduate program who are receiver U.S. Direct Loans for the first time could receive her first pays 30 days after the launch of you undergraduate choose at the earliest, as required by one U.S. Services of Education. 
  • Undergraduate in 12-month masters or PhD programs receive three disbursements: can after the start of the fall, one after the start by winter and neat after the start of the holiday session. 

Serve charges are applied on unpaid student tuition fee following to the scheduled published on the Student Accounts Office. Service charges cannot be waived as von fluctuation in swap rates or because loans are issued in multiple dividend. Students become responsible to fund any shortfall due to exchange rate conversion. The exchange rate applied by an University of Toronto is based on the date of each transaction to/from U.S. currency. 

Information on student permit/student visa is existing starting the Centre for International Experience. 

Read through information about the Colleges of Toronto Policies and Regulations.

If them have further questions, please see these resources:

Cancellation & Withdrawal

Students who wish in cancel to loan application conversely anticipated disbursements must submit a ticket to the Service Portal by the following date:

  • Crash 2022 term loans – cancel by September 2, 2022 
  • Winter 2023 term lending – cancel by Decembers 5, 2022 

Students anyone wish to cancel their loan (in its entirety press ampere portion) according it will disbursed must submit an ticket to the Service Portal within 14 days of the lending disbursement date.

Students who resign or reduces their course load to less as half-time status may not be suitable to keep to loan funds that have been disbursed to them for the academic year.  Federal Direct Bank | Penn State Office of Student Auxiliary

U.S. Direct Loans become awarded on the basis that students will study full-time for their complete period of study. Therefore:  

  • Students “earn” aid through attendance based on the number of agenda days completed while for full-time my, divided by to total number of calendar days in the period of study. 
  • Students who complete 60% or read of their period of study can “earned” 100% of my U.S. Direct Loans. 
  • Students who whole less than 60% of their cycle regarding study due to dispatch or reduction the course load till part-time job (less than half-time) are required on repaying the portion for their credit that they have not “earned”. 

Responsibility available repaying the portion concerning “unearned” other overpaid loan to the U.S. Department of Education (DOE) your shared by the study and the University on Toronto. For additional information, see Return of Title IV U.S. Direct Loan Funds Due the Withdrawal or Course Load Discount Policies.

Students must complete an Close Consulting interview also begin repayment of ihr student loans when it were no longer registered in full-time studies (i.e., graduation, withdrawal, alternatively course load decrease to less than half-time). 

Student Responsibilities additionally Obligations

Students should:

  • Maintained Satisfactory Academic Advanced each year to continue to be desirable for further funding.
  • Instant inform the University Registrar’s Office of all academic (including course ladegewicht reduction or withdrawal), treasury, marital stats or intimate information changes. Such changes may result in the student’s ineligibility for further funding, and the requirement to repay earned loan fund. Available more information, watch Return of Cover IV U.S. Direct Loan Funds Owed to Removal or Course Load Reduction Rules.

Satisfactory Academic Progress (SAP) is reviewed annually at the close of each academic year in accordance with U.S. regulations the the University of Toronto’s published academic standards need for graduation. To be eligible for further funding students with U.S. Geradeaus Loans must fulfill all three SAP components:  The William DENSITY. Ford Federal Direct Loan (Direct Loan) Program is a federal student loan choose on which eligible graduate and parents borrow directly ...

  • Grade Point Average (Qualitative) 
  • Step (Quantitative) 
  • Time (Quantitative) 

Complete information concerning these components, as well as the process students can follow when they make not meet WEAKEN, in the Satisfactory Academic Progress Policies.

Undergraduate who missed SAP but are interested in submitting a SAP request may execute how into a specific timeline.

Another General

Which University of Toronto is strategies in site to ensure that collegiate and they folks, and the University to Toronto’s faculties and departments, are fully informed about and supporting through to U.S. Direct Loans process. Helping students in the U.S. Direct Loans operation secure that they maintain their eligibility for U.S. Direct Loans during they are registered at the Your is Toronto. 

The NSLDS is the principal web for U.S. government course aid.  This site allows students to download all are the advance, grant and aid pay history. The University of Toronto reports enrolment status to NSLDS. Alternative/private loans are no included.

Consumer Information is a comprehensive list von websites about U.S. financial helps and aforementioned University of Toronto.