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U.S. Direct Loan Program

William D. Ford Federal Direct Loan Program  

Direct Loans are low-interest loans for eligible U.S. students and parents where applicable, to help pay for the cost of a student's education after high school.  The lender is the U.S. Department of Education.

  • A subsidized loan is based on financial need. Students eligible for a subsidized loan will not be charged interest before repayment as the U.S. government subsidizes the interest during this period
  • For an unsubsidized loan, the borrower will be charged interest from the time the loan is disbursed until it has been paid in full
  • A Direct Parent PLUS loan may be available to parents of dependent undergraduate students. A PLUS loan is credit-based and a credit check will be completed by the guarantor/lender before the loan is approved
  • Students may be eligible for a Direct loan in addition to PLUS loans for parents, however, it is not necessary for a student to apply for a Direct loan in order to apply for a PLUS loan.

Click here for a list of current Capilano University programs that are authorized under the William D. Ford Federal Direct Loan Program for new FAFSA applicants selecting Capilano University.  As Capilano University is considered a "foreign" university, not all programs are eligible.  If your program of study is not listed you may wish to explore a private student loan through another U.S. lender or through a U.S. bank.  

Capilano University Federal School Code for the Direct Loan Program: G37113

FAFSA (Free Application for Federal Student Aid) - Important Instructions

 

  • Deadlines to apply vary from school to school.  Financial Aid and Awards at Capilano reviews FAFSA's during the following periods for new applicants

Fall term:  Between June 1 to November 15

Spring term:  Between October 1 to March 15

Summer term:  Between Feb 1 to July 15

  • If you have selected "Capilano Universtiy" on your completed FAFSA you are required to contact Financial Aid and Awards so that we are aware of your application.  Contact kwilson@capilanou.ca
  • A completed FAFSA does not guarantee funding.  Financial Aid and Awards must calculate your cost of attendance and endorse your FAFSA based on foreign school policy 
  • Please be aware that if you are studying at a foreign school, not all types of aid shown on a FAFSA assessment are applicable (e.g. grant funding) 

First-time borrowers attending Capilano University for the first time are subject to a 30 day hold disbursement policy as per Federal Student Aid.  Funds will not be released until 30 days after the first day of classes.  Students will be required to have budgeted for the first month of their program accordingly.  For financial aid advising please contact kwilson@capilanou.ca

 

www.fafsa.ed.gov
www.studentloans.gov

www.myedaccount.com (approved borrowers)

for information on:

  • Direct Loans, PLUS Loans, and how to apply
  • Direct Loan eligibility criteria
  • Definitions of need and non-need based aid
  • Entrance counseling for borrowers
  • Exit counseling for borrowers (www.nslds.ed.gov)
  • Requirements for return of funds (withdrawal policy)
  • Assistance and contacts