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US Loans

Please note:
  • 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.
  • 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 US Department of Education.

  • 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 Student Aid Web site.

To understand how these loans are calculated and details about annual maximums and limits, visit the Additional Information page.

  • Application

  • Eligibility
  • Satisfactory
  • Withdrawals
    and Refunds
  • Dates and

  • PLUS Loans

  • Counselling

Application Steps

  1. Complete the Free Application for Federal Student Aid (FAFSA) form (York University 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:
    • Fax to 416-736-5386
    • Mail to Student Financial Services, Bennett Centre for Student Services, York University, 4700 Keele Str., Toronto, ON M3J 1P3
    • Place it in the drop box located in the lobby of the Bennett Centre for Student Services. The drop box is accessible 24 hours a day.

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

*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.

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 course which does not include an in-person classroom interaction between student and lecturer/tutor is ineligible for US federal loan funding. 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 Student Loans Web site.

Satisfactory Progress

US Satisfactory Academic Progress Policy

The US Department of Education regulations state in order to maintain eligibility for US financial aid at York University, students must meet Satisfactory Academic Progress in their program of study as established by the University.

You must meet the following requirements for Satisfactory Academic Progress:

Full-time undergraduate students

  • Complete and pass a minimum of 20 credits per year
  • 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.
  • To 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 (FT) or part-time (PT)
  • P is passing grade
  • Must complete the degree within a maximum time frame

Expectation to complete a degree is as follows:

Undergraduate degree

  • 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 yearwhich includes the summer term within a 4.5 year period

Graduate degree

  • Graduate - 1 year - you must complete and pass within 1.5 years
  • Graduate - 2 years - you must complete and pass within 3 years
  • Ph.D. - 4 years - you must complete and pass within 6 years
  • This also 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.


If a student fails the satisfactory academic progress, they will be placed on probation for one academic year and may continue to receive financial aid. However, after the probation year students must be meeting Satisfactory Academic Progress standards. Two periods of probation cannot occur consecutively.

During the probation period students are responsible for:

  • maintaining academic progress during the probationary period
  • providing the financial aid office with mid-term progress reports

Students who fail to maintain satisfactory academic progress will be notified of their ineligibility for further financial aid.

Satisfactory Academic Progress Appeals

Appeals can be considered for extenuating circumstances.

Examples include:

  • family dificulties
  • medical problems
  • death in a family
  • financial difficulties

Students can submit their appeals, with supporting documentation for review to the Financial Aid Office. Students will receive a confirmation of the appeal decision in writing. If successful, students will be placed on academic probation for one year.

Withdrawals and Repayment of US Financial Aid Funds

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 Registrarís Office. This date will be used in the withdrawal calculation.

Students will be deemed to have an unofficial withdrawal when their record indicates all failing grades and they cannot document attendance in at least one of their classes.

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 July 1 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 US student loans can take up to 6 weeks from July 1.
  • Funds can only be posted to your student account the first day of classes.
  • As per US 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 US authorities, they will be posted to your Student Account Online Statement. Please note that the US 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.


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 US Department of Education before the loan is approved. To complete the PLUS loan request and the Master Promissory Note, please visit the Student Loans Web site.

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 Student Loans Web site.

Entrance Counselling for Direct and Grad PLUS Loan Borrowers

The US 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 Student Loans Web site.

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 Student Loans Web site.


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 Web site. Confirmation of receipt of funds by York University will posted to the Financial Document Tracker.


If you have any other enquiries, please contact us at or contact Registrarial Services at 416-872-9675.