Us Student Loans: Accepted At Concordia University Montreal?

Concordia University in Montreal, Canada, offers a range of financial aid options for students, including US federal direct loans, Quebec loans and bursaries, and other provincial and territorial loans. To be eligible for US federal direct loans, students must be registered in a degree program with a minimum course load. The application process involves completing the FAFSA (Free Application for Federal Student Aid) and submitting additional documents to the Concordia Student Centre. The university also provides resources to help students plan for loan repayment. Additionally, Concordia offers scholarships, bursaries, and awards to support students' academic journeys.

US federal direct loan program

The US Federal Direct Loan Program is a source of financial aid for American students who want to apply for student loans to attend a school outside the US. The application process is different from applying to an American school, and documents are not automatically sent to Concordia University.

To apply for a US Federal Direct Loan, American students must complete the FAFSA (Free Application for Federal Student Aid). This application is free and quick to complete and gives students access to the largest source of financial aid to pay for college.

Once accepted to Concordia University, students must complete an additional e-form via their Concordia Student Centre. They must also be registered in a degree program (Bachelor's, Master's, or Ph.D.) with a minimum of 6 credits per semester. Online courses are ineligible for the duration of the degree. International students are expected to maintain a full-time course load (12-15 credits per semester) as a condition of immigration requirements.

Students can calculate their Cost of Attendance (COA) to determine their financial need. The COA is based on tuition fees, books, and living expenses for one academic year. Living expenses are calculated by the Financial Aid and Awards Office (FAAO) and include housing, food, transportation, and personal expenses. Other necessary and reasonable expenditures, such as the purchase of a computer or a return trip home, may also be included with approval from a Financial Aid Advisor and proof of purchase. The COA is calculated in Canadian dollars and then converted to US dollars based on the exchange rate of that day.

To be eligible for Direct Subsidized Loans, students must demonstrate financial need as defined by the US Department of Education. The US government pays the interest while the student is studying at least half-time, during any authorized period of deferment, and for the grace period. Direct Unsubsidized Loans are available for undergraduate and graduate degree students regardless of financial need. Students are responsible for paying the interest from the time the money is disbursed. Interest may be paid as it is due, or it may be postponed and allowed to accumulate while the student is in school, as well as during any authorized period of deferment and during the grace period. If payments are postponed, the interest accrues and is capitalized (added to the amount borrowed), which must be paid back with the loan after any authorized period of deferment or after the grace period.

Before leaving Concordia University or graduating, students must go to the US Department of Education to complete an Exit Counselling session. This session covers repayment options, deferments, and other important information. During this session, students must provide the name and address of their closest living relative and two references with different addresses.

When it comes to repaying loans, students may have multiple loans with different lenders and terms, making repayment complicated. Consolidation is an option to simplify the repayment process by combining multiple loans. Most federal student loans are eligible for consolidation, including Direct Subsidized Loans, Direct Unsubsidized Loans, PLUS loans from the Federal Family Education Loan (FFEL) Program, Supplemental Loans for Students (SLS), Federal Perkins Loans, Federal Nursing Loans, Health Education Assistance Loans, and some existing consolidation loans. Private education loans are not eligible for consolidation.

Quebec loans and bursaries

Quebec offers loans and bursaries for full-time and part-time studies. The province provides financial assistance to Canadian citizens, permanent residents, refugees, and protected persons who are considered residents of Quebec for student aid purposes at the time of application. The Loans and Bursaries Program is available for full-time vocational, college, and university students. It offers low-interest rates and non-refundable tax credits, with no amount to be paid back during studies.

Quebec also offers the Part-Time Education Loan Program, which provides financial assistance in the form of a loan per term of study. Additionally, there are scholarships, such as the Quebec Perspective Scholarship, offered to college and university students who have successfully completed a full-time study term according to eligibility requirements in a targeted program of study.

For those with special needs, there is the Allowance for Special Needs Program, which provides allowances for adults and youth with recognized permanent disabilities resulting in significant and persistent impairment.

To apply for Quebec's Loan and Bursary program, you will need Concordia's school code, which is 980000. You can contact the Financial Aid and Awards Office (FAAO) by emailing to confirm your registration with the Aide financière aux études (AFE) program. The AFE website provides information on eligibility requirements for full-time and part-time loans and bursaries.

The application process for Quebec's Loan and Bursary program typically requires the following:

• A permanent code (comprised of 4 letters and 8 digits). If you do not have a permanent code, you can contact your educational institution or apply by mail.
• Your social insurance number.
• The codes for your educational institution and your program of study.
• Your income or an estimate of your income for the year (from January 1 to December 31).
• Other information, such as the date of a marriage or the birth of a child, may also be required.

It is recommended to apply at least 6 to 8 weeks before the beginning of the semester to ensure timely funding for the start of the term.

Federal and provincial loans

Concordia University, Montreal, offers a range of federal and provincial loans to support students with their studies. These loans are available to Canadian citizens, permanent residents, refugees, and protected persons. The application process and requirements may vary depending on the student's province or territory, but the university's Financial Aid and Awards Office is available to provide assistance.

Federal Loans

U.S. federal loans are available for students pursuing eligible degree programs at Concordia University. These include Direct Subsidized Loans, Direct Unsubsidized Loans, Federal Parent PLUS Loans, and Federal Graduate PLUS Loans. The application process for federal loans involves completing the Free Application for Federal Student Aid (FAFSA) and submitting additional loan documents. International students are expected to maintain a full-time course load and should consult the International Student Office for guidance.

Provincial Loans

Concordia University also offers provincial loans and bursaries for students from various provinces and territories, including Newfoundland and Labrador, Nova Scotia, Ontario, and Yukon. Each province and territory has its own application process and deadlines, with some provinces encouraging online applications. The university provides resources and support to help students navigate the financial aid process and determine their eligibility.

Application process and requirements

Step 1: Check Minimum Admission Requirements

The minimum admission requirements depend on your academic background:

• Canadian high school
• International high school
• University or college transfer

Or, the minimum admission requirements could depend on your situation:

• Independent students
• Undergraduate microprograms

Step 2: Check Program-Specific Requirements

Some programs require you to provide additional documents specific to the department to which you are applying. It is your responsibility to verify if your program has any extra requirements (e.g., letters of intent, portfolios, interviews, auditions and specific deadlines).

Step 3: Check Language Requirements

Determine if you must include proof of English proficiency with your application. Check the English language proficiency requirements and submit your test scores within the deadline.

Step 4: Gather Supporting Documents

All applicants must include the following documents:

• Transcripts (unofficial) from all previous educational institutions. If you are currently enrolled in school, submit the results of previous terms and a list of your current courses, including mid-year grades if available. Transcripts should be in the original language, with a translation into English or French by a certified translator if the original is not in English or French.
• If you attended CEGEP, include your permanent code on your application. If you did not attend CEGEP, upload your high school transcripts.
• If you are a mature student, also include a birth certificate or other acceptable proof of age, school records, and any documents which may indicate your ability to pursue university studies.

Step 5: Start Your Application

• Set up your Netname and password to access the Student Centre.
• In the Student Centre, select Admission Application.
• Specify your level of study (undergraduate or graduate).
• Provide biographical information, including your name, date of birth, first language, email address and other details. Ensure that all information is accurate and matches your official supporting documents.
• Select the academic program and the academic plan to which you’d like to apply. An Academic Program is the type of degree or certificate (e.g., Bachelor of Arts, Bachelor of Engineering) you plan to pursue. An Academic Plan is the specific subject you want to focus on (e.g., Major in Art History, Specialization in Biophysics). You may indicate up to three academic program and academic plan choices on your application.
• If you are interested in applying to the Institute for Co-operative Education, check off the Co-op box when choosing your program.
• List your academic honours, distinctions and achievements, including International Baccalaureate or Advanced Placement courses.
• Create a list of all the academic institutions you have attended, including high school, college, and/or university.

Step 6: Finalize Your Application

• Pay a non-refundable application fee ($100 CAD for undergraduate, $18 CAD for Independent studies or $40 CAD for Microprograms) by credit card (Visa, MasterCard, American Express, Discover, JCB, Diners Club, or UATP).
• You will receive a confirmation email and Student ID number within 24 hours of submitting your application.

Loan repayment

You will be required to start paying back your loan once you:

• Have graduated from your studies
• Have transferred to part-time studies
• Have left school
• Are taking time off school for more than six months

You pay back the loan provider through your bank. You will need to contact your financial institution to make a repayment agreement or request a grace period for your payment (also called a ‘partial exemption period’ or a ‘payment postponement’).

Some loan providers will send you a repayment agreement by mail with the option to set up a pre-authorized debit. This will allow your financial institution to automatically withdraw the payment every month from your bank account.

In some provinces and territories, federal and provincial/territorial student loans are issued separately. This means that you could have more than one loan account and more than one loan issuer to arrange payments with. Please be sure to contact each loan provider to arrange to repay them.

If you are delinquent on your student loan payment for 90 days or more, your loan servicer will report the delinquency to the three major national credit bureaus. If you continue to be delinquent, your loan can risk going into default.

Consolidation is a way to make repayment of multiple loans less complicated. Most federal student loans are eligible for consolidation, but private education loans are not. A Direct Consolidation Loan has a fixed interest rate for the life of the loan. The fixed rate is based on the weighted average of the interest rates on the loans being consolidated, rounded up to the nearest one-eighth of 1%. There is no cap on the interest rate of a Direct Consolidation Loan.

In rare circumstances, your loan may be discharged or cancelled, releasing you from all obligations to repay the loan. This does not include situations where you didn't like your school or program of study, or because you didn't get a job after graduation.

Frequently asked questions