Please note that we are currently undergoing a renewal process with the U.S. Department of Education for the 2022-23 academic year and approval is pending.
The University of Waterloo is listed as an eligible international institution with the U.S. Department of Education and we are currently working on the ability to participate in the disbursement of funds through the U.S. Department of Education's Direct Loan Program beginning in the Fall 2020 term.
Ineligible programs and courses
The U.S. Department of Education does not provide funding to students enrolled in:
- Any course which does not include an in-person component is ineligible for U.S. Federal loan funding including
- All distance education courses
- All distance education programs
- All co-op programs as they include a mandatory online component.
- Certificate, diploma, non-degree, and post-degree programs
- Exchange/Internship/study abroad programs at institutions not eligible for Title IV or US Direct Loans funding; see School Code Search on the Federal Student Aid website.
Step 1: Complete the Free Application for Federal Student Aid (FAFSA)
Step 2: Apply for Direct Student/ Plus Loans
Step 3: Contact Student Awards & Financial Aid
Email the Student Awards & Financial Aid Office once you have completed your FASFA, Entrance counselling and Master Promissory Note.
We will send you a UWaterloo consent form and then determine eligibility and review disbursement of Direct Loan funding with you.
We will begin processing loan applications in August. If we require any further information or clarification of your program, you will receive an email from the Student Awards and Financial Aid Office.
Step 4: Issuing Funds
Once your direct loan is approved the funding will be disbursed in two equal instalments (three equal instalments for graduate students) early fall and early winter. The disbursement will be sent by the U.S. Department of Education to the University of Waterloo using an electronic funds transfer. The disbursement will be applied directly to the student fee account.
Other Important information
- Satisfactory Academic Progress
Federal Aid students enrolled at the University of Waterloo are required to meet satisfactory student academic progress (SAP) requirements.
The academic progress of students is evaluated on a term-by-term basis prior to the disbursement of Federal Aid to determine eligibility for continued aid and after each term funded by US student aid. If a student who has applied but has not before received U.S. Direct Loans and has not met SAP in the previous year, the student is notified via email once the U.S. Direct Loan application has been reviewed.
- Withdraws and Refunds
Changes to course load, including dropping a course or withdrawal, may result in ineligibility for all or part of your student loan funding. Please review the Return of Title IV Funds Policy and contact the Awards & Financial Aid Office immediately if you withdraw or reduce your course load.
- Consumer Information
As per the Higher Education Opportunity Act (HEOA) of 2008, the U.S. government requires institutions offering U.S. Direct Loans to disclose the following University of Waterloo Consumer Information (PDF).
The U.S. Department of Education requires all U.S. citizens receiving direct loans to participate in exit counselling shortly before they graduate, withdraw or cease to be enrolled in at least half-time. Go to studentloans.gov to complete exit counselling. The link can be found under "Complete Counseling" once you sign in. Information on repayment of your student loans is available on the Repayment Information section of the Federal Student Aid website.