Students who are Citizens or Permanent Residents of the U.S. may apply for a Direct Loan through the William D. Ford Federal Direct Loan Program. Students must be registered in a degree program. Students in any online or correspondence programs (including registration in one of these courses) are not eligible for U.S. government loan funding.
Mount Saint Vincent University’s Federal School Code is: G08363
Steps to Apply
- Complete your Free Application for Federal Student Aid (FAFSA)
- E-sign your Master Promissory Note (MPN) (you must do this annually in Canada)
- Complete any mandatory Entrance Counselling (if not already done while attending the Mount)
- Complete the 2020-2021 US Direct Loan application and return it to the Assistant Registrar, Financial Aid (Registrar’s Office) at least 30 days before classes begin.
Loan Amounts & Limits
Know your Loan Limits – before – you apply. Often, first year students are not eligible for more than USD$5,500 for the entire year! A full year at the Mount including tuition, fees and housing can cost up to (or over) CAD$20,000 per school year, so make sure that you can afford school before doing anything else!
How Loan Funds are Issued
- Funds will be disbursed electronically to your student account at MSVU. If you are a full year (September – April) student, the first disbursement will be in mid September (with the exception of first time loan borrowers who must attend classes for at least 30 days before loan money may be issued).
- The second disbursement of funds for all students will be made in the first two weeks of January.
- Once your tuition and fees are paid, any remaining funds are released to you for your living expenses.
Important Policies for U.S. Students
- Refund Policy (R2T4)
- Satisfactory Academic Progress (SAP)
- Consumer Information for Mount Saint Vincent University Student Borrowers
Currently, the Mount does not participate in a summer loan program for U.S. students.