U.S. Federal Student Aid William D. Ford Federal Direct Loan Program

Direct Subsidized and Unsubsidized Loans are low-interest loans offered by the U.S. Department of Education to eligible American students to help cover the cost of education at Redeemer University.

• Direct Unsubsidized Loans are available for undergraduate and graduate students who do not qualify for subsidized loans, but eligibility is not based on financial need.
• Direct Subsidized Loans are only available for eligible undergraduate students who demonstrate a financial need.

To be eligible for a Direct Loan you must:

• Be a US citizen, national, US permanent resident, or an eligible non-citizen as defined by the US Department of Education
• Maintain satisfactory academic progress
• Have a valid Social Security Number
• Comply with the US Selective Service System registration requirements
• Have completed a high school diploma or equivalent
• Registered at least half-time (i.e. 7.5 credit hours per semester) in an eligible program.  Redeemer offers a variety of programs approved for Direct Loan funding. You can speak with an Admissions Counselor about your program options.

The following Redeemer undergraduate degree programs are not eligible for Direct Loan funding:

• Bachelor of Arts/Science co-operative education programs:
  • Kinesiology
  • Urban & Intercultural Ministry
• Bachelor of Arts degree majoring in:
  • Honours Applied Social Sciences: Social Work stream
  • Applied Social Sciences (general major)
  • Honours Media & Communications: Digital Media and Production stream
  • Honours Urban & Intercultural Ministry
  • Youth Ministry (general major)
• Bachelor of Science degree majoring in:
  • Honours Environmental Science
• Minors:
  • Criminal Justice
  • Disability Studies
  • Social Justice
• Study abroad or student exchange programs
• Online programs and courses
• Students registered in an ineligible program may consider applying for a private loan.

Your Direct Loan value will vary based on the information from your Student Aid Report (SAR) and your grade level. The maximum amount you may borrow is established by Redeemer based on the Cost of Attendance (COA).

See chart below.

Annual Loan Limits

Parent(s) of eligible dependent children studying at the undergraduate level can apply for PLUS loans. The maximum PLUS loan amount that can be borrowed is Redeemer’s calculation of your COA minus any other financial aid (including subsidized and unsubsidized loans).  See the Federal Student Aid website for more info on PLUS loans. 

For questions and instructions on how to apply for a PLUS loan, contact the Financial Aid Office.

Redeemer University is a Veteran Affairs-approved institution to process program reviews and certify registered students to receive Post-9/11 GI Bill Benefits. Students must request certification for each academic year that they want to receive Veterans Affairs benefits.

Process: Send an e-mail request with the following: full name, student number and request to be certified for Veteran Affairs benefits to: financialaid@redeemer.ca.  The Financial Aid Office will coordinate with the applicant to ensure all required documentation is submitted for processing.

Repayment begins six months after a student graduates, withdraws, or drops to part-time status (less than half-time).  You must repay a student loan even if your financial circumstances change or become difficult. Payments are arranged through your loan servicer. You are responsible for staying in touch with your servicer and making your payments, even if you do not receive a bill.  More info about the repayment of Federal Direct Loans can be found at studentaid.ed.gov.

Visit studentaid.ed.gov to find out more about current interest rates and fees for subsidized / unsubsidized and PLUS loans.

The application process is similar to applying for aid at a US based institution; however, there are some key differences when studying in Canada that require your attention.  Apply for your loan at least 6 weeks prior to the start of the semester to ensure funding will arrive by the first week of classes.

STEP 1:  Completing the Free Application for Federal Student Aid (FAFSA).  Complete the FAFSA online at www.fafsa.ed.gov.  The school code for Redeemer is: G33485.

STEP 2:  Students must complete the following items at StudentLoans.gov before loan funding will be issued and email the finanicalaid@redeemer.ca office to confirm the confirmation of the following items.  

• Complete the loan Entrance Counselling session online at studentloans.gov. 
• Master Promissory Notes (MPN)
• Repayment

STEP 3: Email Redeemers Financial Aid Office at Financialaid@redeemer.ca to inform them that you will be applying for a Direct Loan and have completed steps 1 & 2.

STEP 3:  Redeemer’s Financial Aid Office will determine your eligibility for funding through the Direct Loan program.  Students will be notified of their eligibility for Direct Loan funding via email.

In accordance with U.S. federal regulations, the Financial Aid Office is required to maintain all Direct Loan borrowers’ records with the appropriate and necessary documentation to determine eligibility for Title IV funds. Direct Loan borrowers must submit the following documents:

• Direct Loan Master Promissory Note (MPN)
• Student Aid Report (SAR)
• Exit Counseling Confirmation 
• Appeal documents (where applicable)
• Additional documents related to Title IV funds eligibility

In addition to the previous documents, the Financial Aid Office will also keep on record for each student the following:

• Cost of Attendance
• Enrollment Report
• Student Academic Progress Report
• Transcript
• Documents used to verify applicant data and resolve conflicting information

The Cost of Attendance (COA) is an estimate of reasonable educational expenses a student should anticipate for the study period. What is included in this estimate is determined by the U.S. federal law. These expenses include direct costs associated with attending Redeemer and indirect costs. Direct costs include course fees (including ancillary fees) and residence fees (if applicable). Indirect costs will factor in a student’s cost of living including room & board (if living off campus), textbooks & supplies, and other miscellaneous living expenses (e.g., food).

In accordance with U.S. federal regulations, a student’s awards cannot exceed the cost of attendance. Awards include Title IV funds (loans and grants), all scholarships and bursaries awarded by the school, and third-party awards.

When awarding students their Title IV funds, Redeemer will take into account all their earned awards to balance with their COA. This rule is put in place to help prevent over-awarding unnecessary funds to the student they will be obligated to pay back.

• Consumer Information is a comprehensive list of websites about U.S. financial aid and Redeemer University.
• Students can request a letter detailing any institutional or government financial aid awarded/certified for their study permit application by emailing their name, student number and request to financialaid@redeemer.ca.  Information on study permit/student visa is available from the Government of Canada website.
• Students are responsible to fund any shortfall due to exchange rate conversion. The exchange rate is the one used by Redeemer University on the date of each transaction to or from U.S. currency.