Use our US "Cheat Sheets" as a quick guide to the application process:
Types of loans
US students attending McGill may apply for the following loans through the听William D. Ford Federal Direct Loan Program:
- Direct Loan - undergraduate (subsidized/unsubsidized)
- Direct Loan - graduate & professional students (unsubsidized)
- Grad PLUS Loan - graduate & professional students
- Parent PLUS Loan - dependent undergraduate
NB: US Pell Grants are not available to students attending foreign schools.
Online education:听American students enrolled in any online course are NOT eligible for U.S. Direct Loans as per government regulations.
The CARES Act signed into U.S. law on March 27, 2020 and then extended on March 15 2022 only temporarily waived the distance education prohibition due to the pandemic for students attending a foreign institution.
This waiver is now expired for any disbursement after the Summer 2023 payment period (applications for additional US Direct Loans must be submitted by June 15, 2023, at the latest).
Until the law is permanently addressed by U.S. Congress, a student is not eligible to receive US federal loans if they take any McGill online course(s).
Eligibility
- US citizens or permanent residents who are registered full-time in a degree program听are听eligible听to apply.听
- Students registered in certificate, diploma or Continuing Studies programs, and students in any nursing program are not eligible. NEW: Students in the Bachelor of Global Engineering program are ineligible for U.S. direct loans, since the program is jointly offered with CentraleSup茅lec in France considered an ineligible foreign institution for Title IV purposes.
- Students registered in McGill鈥檚 Medical (MD) programs are only eligible to apply for U.S. Government Loans if they have submitted their MCAT results at the time of admissions (regulation 34 CFR 600.55).
Loan amounts & limits
For all students (undergraduate and graduate/professional) the US Direct Loan Program has annual as well as lifetime loan limits that vary according to a student's:
- Grade level
- Status (dependent or independent)
- Loan type: need-based (subsidized) or non-need based (unsubsidized and PLUS)
- Cost of attendance (student cannot borrow more than this amount)
Annual limits鈥攗ndergraduate/dependent
An undergraduate's "dependent" status is determined by information on their FAFSA. The student can borrow up to the cost of attendance or up to the specified loan limit (whichever comes first). The loan is divided into two amounts:
Base amount
- Subsidized and/or unsubsidized (determined by the loan calculation: cost of attendance minus estimated financial contribution and financial aid received)
Unsubsidized amount
- A standard amount of $2,000 (USD) is available to all dependant undergraduate students.
- If the parent of a dependent undergraduate is denied a PLUS loan, the student is eligible for an听additional unsubsidized loan amount听that increases the annual loan limit.
| Grade Level | Base Amount Sub/Unsub Direct Loan | Unsubsidized Amount Direct Loan | Annual Loan Limit | Additional Amount Unsubsidized Direct Loan if PLUS Loan Denied | Direct Loan Limit if PLUS Denied |
|---|---|---|---|---|---|
| First Year -Freshman | $3,500 USD | $2,000 USD | $5,500 USD | $4,000 USD | $9,500 USD |
| Second Year - Sophomore | $4,500 USD | $2,000 USD | $6,500 USD | $4,000 USD | $10,500 USD |
| Third Year - Junior | $5,500 USD | $2,000 USD | $7,500 USD | $5,000 USD | $12,500 USD |
| Fourth Year - Senior | $5,500 USD | $2,000 USD | $7,500 USD | $5,000 USD | $12,500 USD |
Annual limits鈥攗ndergraduate/independent
An undergraduate's "independent" status is determined by information on their FAFSA. The student can borrow up to the cost of attendance or up to the specified loan limit (whichever comes first). The loan is divided into two amounts:
Base amount
- Subsidized and/or unsubsidized (determined by the loan calculation: cost of attendance minus estimated financial contribution and financial aid received)
Unsubsidized amount
- Independent undergraduate students are eligible for unsubsidized loan amounts that are based on grade level (see chart below).
| Grade Level | Base Amount Sub/Unsub Direct Loan | Unsubsidized Amount Direct Loan | Annual Direct Loan Limit |
|---|---|---|---|
| First Year - Freshman | $3,500 USD | $6,000 USD | $9,500 USD |
| Second Year - Sophomore | $4,500 USD | $6,000 USD | $10,500 USD |
| Third Year - Junior | $5,500 USD | $7,000 USD | $12,500 USD |
| Fourth Year - Senior | $5,500 USD | $7,000 USD | $12,500 USD |
Annual limits鈥攇raduate/professional
A graduate/professional student can borrow up to the cost of attendance or up to the specified loan limit (whichever comes first). The annual unsubsidized Direct Loan limit is $20,500 USD.
| Grade Level | Annual Unsubsidized Direct Loan Limit |
|---|---|
| Graduate/Professional | $20,500 USD |
Lifetime limits for US Direct Loans
| Grade Level/Status | Aggregate (lifetime) Loan Limits |
|---|---|
| Dependent Undergraduate Student | $31,000 USD (no more than $23,000听USD may be subsidized) |
| Independent Undergraduate or Dependent Undergraduate whose parent is ineligible for PLUS | $57,500 USD (no more than $23,000 USD may be subsidized) |
| Graduate/Professional Student | $138,500 USD (no more than $65,500听USD may be subsidized) |
How to apply
The application process and documentation required varies according to the type of US government loan you are applying for.
Applying for a direct loan
- Complete a听听for the applicable academic year. McGill鈥檚 federal code is: G06677
- E-sign a听听(MPN)
- Go to > Financial Aid/Awards tab > Financial Aid Menu > Apply for US Direct Loans to complete an application for Direct Loans. You will be required to:
- Enter your Social Security Number
- Enter the name(s) and amount(s) of any non-McGill financial aid you have been awarded
- Choose the loan types for which you wish to apply
- First-time student borrowers of Direct Loans must complete听. If Entrance Counseling is not completed, loans are not disbursed.
Applying for a GRAD PLUS loan
Students can apply for Grad PLUS loans only if they have already applied for the maximum amount of unsubsidized Direct Loan for which they are eligible.
- Complete a听听for the applicable academic year. McGill's federal code is: G06677
- Complete a to authorize a credit check听and听E-sign a (MPN).
- Go to > Financial Aid/Awards tab > Financial Aid Menu > Apply for US Direct Loans to complete an application for Direct Loans. You will be required to:
- Enter your Social Security Number
- Enter the name(s) and amount(s) of any non-McGill financial aid you have been awarded
- Choose the loan types for which you wish to apply
- First-time student borrowers of Direct Loans must complete听. If Entrance Counseling is not completed, loans are not disbursed.
Credit checks: should a Direct PLUS loan credit check be denied due to adverse credit history, the borrower may:
- secure an approved endorser (who must pass the credit check), or
- appeal the decision based on extenuating circumstances
In either of the above cases, the PLUS loan applicant (not the endorser) will be required to complete . This is not the same as Entrance Counseling.
Applying for a Parent PLUS loan
Please note: The student's loan(s) and the Parent PLUS loan application(s) may be submitted concurrently.
- Complete a听听for the applicable academic year. McGill's federal code is: G06677.
- Complete a loan application to authorize a credit check听and听E-sign a (MPN).
- Have the student go to > Financial Aid/Awards tab > Financial Aid Menu > Apply for US Direct Loans to complete an application for Direct Loans. The student听will be required to:
- Enter the听student borrower's Social Security Number
- Enter the name(s) and amount(s) of any non-McGill financial aid the student has been awarded
- Choose the PLUS loan application and enter the requested information
Credit checks: should a Direct PLUS loan credit check be denied due to adverse credit history, the borrower may:
- 听听听 secure an approved endorser (who must pass the credit check), or
- 听听听 appeal the decision based on extenuating circumstances
Deadlines
All steps in the US Direct Loan, Parent/Grad PLUS loan application process must be completed by June 1st in order to ensure that funds are available for the fall term fee payment deadline (December 1st for students registering in the winter term).
Late applications are processed on a rolling basis and therefore there is no guarantee that funds will be disbursed by McGill fee payment deadlines.
By US Department of Education regulations, a US loan (subsidized, unsubsidized, Parent/Grad PLUS) cannot be originated after the student鈥檚 study period end date.
Tracking the status of your application
To verify the status of your application(s) go to听Minerva > Financial Aid/Awards tab > Financial Aid Menu > My Financial Aid & Awards.听Once all application information is received and processed, the awarded loan types and amounts are available on Minerva.
Please note that during peak periods (June/July) updates and processing can take several weeks.
Receiving your loan
Once the loan has been processed, a letter confirming your loan amount(s) will be e-mailed to the address on your听. When听the loan(s) amounts and disbursement dates have been updated on Minerva, a second notification will be sent to your听McGill e-mail.
You听must accept听the loan(s) on听Minerva听>>听 My Financial Aid & Awards听tab >> Financial Aid Menu >> My Financial Aid & Awards in order for the money to be disbursed into your student fee account. This must be done听at least 10 days prior听to the first disbursement date listed on Minerva. After you accept the loans, the loan funds are disbursed to your student fee account (in Canadian funds) on the scheduled disbursement dates, if you are registered full time by these respective dates.
For most students, the听disbursement schedule听is in two equal instalments as follows:
- Fall term: disbursed late August/early September
Exception: disbursed late September/early October for freshman student borrowers - Winter term: disbursed early January (including freshmen student borrowers)
Med students years 1, 2 and 3 are the exception. For these students, the loans are disbursed in three equal instalments:
- Late August /early September听
- January
- Late April
All students receive their loan funds via听electronic fund transfers听to their McGill student fee account.听
Deferring your existing US government loan(s)
McGill's Scholarships and Student Aid reports student registration via the听National Student Loan Data Service (NSLDS). Loan repayment for previous and current loans is deferred for full-time students. Students can verify the status of their US government loan(s) at听.
McGill's Scholarships and Student Aid reports student registration via the National Student Loan Data Service (NSLDS). Loan repayment for previous and current loans is deferred for full-time students. Students can verify the status of their US government loan(s) by .