Student Loans
Canada Student Loans Contact:
Sharlene Salter
sharlene.salter@ukings.ca
(902) 422-1271 ext. 116
U.S. Student Loans Contact:
Christina Warren
christina.warren@ukings.ca
(902) 422-1271 ext. 193
Canadian Student Loan Procedures
If you are thinking about applying for a student loan, you should apply online two months before the start of the school term. Once you have applied, you should check your student loan status online if you have not heard from your province within four weeks of your submission date.
Student Accounts will send an email to your university email address when your student loan arrives at the university. Please note that Manitoba, Saskatchewan, British Columbia and Nova Scotia student loans will be sent to the personal contact address that you provide on your application.
Once your student loan has been signed by Student Accounts, it has to be taken to the appropriate financial lending institution within 30 days.
Canada Student Loans (CSL) are sent through a Designated Postal Outlet (DPO), either Lawton’s on Spring Garden Road or Shoppers in Fenwick Plaza, or see www.canlearn.ca for others.
For CSL, when you arrive at the DPO you must have a Photo ID, and a government document with your SIN on it. If you did not have your total student loan signed over to pay your student account, you can provide a void cheque at the DPO. The DPO will send your CSL and your cheque, if provided, to the National Student Loan Service Centre by courier. Within two weeks, the amount signed on the student loan will be sent to King’s and any remaining funds will be deposited into your bank account. If you did not provide a void cheque or your bank account information with your CSL, a refund cheque will be mailed to the address on your student loan.
Please note: if your student account is already paid, your student loan will be signed over to you. You still have to follow the procedures mentioned if it is your CSL or PSL.
Students should be aware that some provinces may require additional forms to be filled out and sent back before the second installment will be released in January.
All previous financial lenders must be informed that you are registered in the current academic school term. If not, they will request that you to start paying off your student loan in late fall (see the Registrar’s Office for forms).
Provincial Student Loans (PSL) usually arrive in January and are to be taken to the financial institution within 30 days of when they are signed by Student Accounts, except for Nova Scotia student loans, which are signed electronically by King's. Financial Institutions are as follows:
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PEI: PEI Credit Union
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QC: BMO, RBC, National Bank, Caisse Desjardins & Laurentian Bank of Canada.
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NB, NL, ON, SK, AB, BC: DPO
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MB: MB Student Loan Service Bureau.
Any student loan not processed within the academic school term will be forfeited.
Canadian Student Loan Links
American Student Loan Procedures
King's is recognized as a participant by the U.S. Department of Education Direct Loans Program. Our U.S. Department of Education Code is 00950100 or G09501 depending on the requested fields. King's is also recognized by some private loaning agencies.
Applicants must ensure they maintain satisfactory academic progress requirements in order to meet U.S. financial assistance.
Steps for processing U.S. Loans:
Student's first apply for their Free Application for Federal Student Aid, FAFSA, online at www.fafsa.ed.gov. Student's must ensure they specify the University of King's College school code noted above on the application. This will generate an electronic Student Aid Report (SAR).
Student's then have to visit www.studentloans.gov to first view their documents. From this website student's must also complete their Entrance Counselling if they are a first time loan borrower, then sign their Master Promissory Note (MPN), and/or complete their PLUS loan process.
The university will then receive an electronic copy of the student's SAR and MPN through the U.S. Department of Educations Direct Loan systems. The university will follow the U.S. Department of Education guidelines to process the loan and submit it back to the U.S. Department of Education for final completion. The university will notify all student's of their loan amount. All loan payments will be posted directly to the student's account. It is the student's responsibilty to make sure their student account is paid by the terms tuition and fee due date.
Student are also encouraged to use Mapping Your Future: http://mappingyourfuture.org for personal financial guidance.
Please note: The U.S. Federal law prohibits the distribution of federal pell grants at foreign institutions.
Satisfactory Academic Progress Requirements
U.S. Financial Aid Recipients
Students receiving U.S. financial aid will be evaluated for satisfactory academic progress at the end of their first year of study then, after each term. Students must be registered in at least 7.5 credit hours in each academic term for which they are receiving U.S. Financial Aid. Non-credit courses will not be counted in assessing full-time hours.
Academic Standing
Students must maintain a cumulative GPA of 2.0. If the cumulative GPA drops below 2.0, the student will be placed on U.S. Financial Aid Probation. While on probation, the student must obtain a term GPA of 2.0 or higher to continue to be eligible for U.S. financial aid. The student will remain on U.S. Financial Aid Probation until the cumulative GPA is 2.0 or higher. If the student does not meet the required term GPA, they will be placed on U.S. Financial Aid Suspension. Students placed on suspension will not be eligible for U.S. Financial Aid until they receive a term GPA of 2.0 or higher.
Maximum Time Frame
Students are entitled to receive U.S. financial aid for 150% of the allocated program time frame:
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1-year degree: eligible for aid for 1.5 years
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2-year degree: eligible for aid for 3 years
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3-year degree: eligible for aid for 4.5 years
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4-year degree: eligible for aid for 6 years
Financial Aid Suspension Appeal
Students who have their eligibility for U.S. Financial Aid suspended may appeal the suspension if one or more of the following circumstances exist:
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Death of immediate family member.
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Extended illness of student, an illness that causes the student to be absent from class at least 15 days or more (medical documentation required).
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Extended illness of a family member that places hardship on the student (medical documentation required).
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Mitigating circumstances as determined by the university.
| Download: | Satisfactory Academic Progress Appeal - U.S. Financial Aid (PDF) |
All appeals must be received in writing within 10 days of receipt of the Notice of Suspension.
