Student Loans

While students and families are primarily responsible for meeting costs, many of our students seek outside funding sources such as student employment, external scholarships, or government student loans to assist in filling the gap between the resources your family expects to pay and your education costs. Government loan funding can help supplement (not replace) your financial resources to aid in achieving your educational goals.

Canadian Student Loans & Grants

Your government loan is an agreement between you and the provincial/federal government. Therefore, you are responsible for being informed of the details of your loan such as the funding amount, any required documents, the disbursement dates, and following up on any details that are unclear. This also includes assuming responsibility and following up if your loan has been delayed for any reason.

Students in eligible programs with Canadian citizenship, permanent residency or protected person status in Canada may be eligible for student loan and grant funding through their province of residency. Residency is defined as the last province you or your parents have lived for 12 continuous months without you being a full-time post-secondary student. Canadian student loan and grant programs are based on financial need, which is determined by a standardized government assessment.

Before applying for a student loan, students must determine whether to apply for a full-time loan or a part-time loan.

If you will be registered in a 60% course load (9 semester hours) or above, you may apply for a full-time loan.
If you are registered in a 20% to 53% course load (3 semester hours to 8 semester hours), you may apply for a part-time loan.
If you are eligible for a full-time loan one semester and a part-time loan the other semester, you must apply for two separate loans.
If you have a documented permanent disability, you may apply for a full-time loan at a 40% course load (6 semester hours).

Loan funding should be considered as a supplement to other resources you may need to cover all your educational and living costs. We highly recommend developing a financial plan to ensure you have enough funding for the duration of your studies.

BC Student Loans

How to Apply

Apply online through StudentAid BC to be considered for both federal and provincial student loan and grants. The application for classes starting after August 1 will be available in early June.
Refer to the course load guide to make sure you have enrolled in enough semester hours to be eligible for funding.
Complete your application at least two months before classes start to receive your funding at the beginning of the semester.
- Note: If you are a first-time loan borrower you will need to have your identity verified by Service BC before you can access the loan application through Student Aid BC dashboard.
Review your Notification of Assessment (NOA) which is posted to your Student Aid BC dashboard after your student loan application has been assessed.
If you are applying for a student loan for the first time, (or haven’t received loan funding for a period of 2 years or more) submit the Master Student Financial Assistance Agreement (MSFAA) in a timely manner. A late submission will delay your loan disbursement.

Confirming Enrolment and Receiving Your Student Loan

The National Student Loans Service Centre (NSLSC) administers your loan on behalf of the federal and provincial government. After your MSFAA has been processed by NSLSC, a request will be sent electronically to TWU to confirm your enrolment.

Note: the earliest we receive the request to confirm your enrollment is a few weeks before classes begin each semester.

After your MSFAA has been processed and your enrolment has been confirmed, your funds will be either deposited electronically into the bank account you have specified or a cheque will be mailed to your address on file. The deposit usually occurs within seven business days of the confirmation of enrolment date. If you have any concerns about your loan funds arriving after your first payment is due, please contact the Office of the Registrar.

Interest Free Status

Students not studying during the summer semester do not need to apply for interest free status. If you intend on returning to TWU during the fall semester and do not intend on applying for another BC student loan, please see below.

Returning students who receive further student loan funding

If you receive additional student loan funding, you will not have to begin repayment and the federal portion of your Canada-B.C. integrated student loan will be placed into in-study interest-free status if the Schedule 2 Confirmation of Enrolment has been received and approved by the National Student Loans Service Centre (NSLSC).

Returning students who are not receiving further student loan funding

If you are a returning student and are not receiving further student loan funding, you must apply to maintain your in-study interest-free status by submitting an online application via the NSLSC online portal or submit a paper Schedule 2 application to the NSLSC. One application will defer both your outstanding Canada student loan and your B.C. student loan from entering into the repayment phase.

For eligibility for interest free status, please see loan eligibility listed above. If you do not meet eligibility for interest status and are experiencing difficulties with repayment, please see NSLSC’s information on the Repayment Assistance Program (RAP).

Frequently Asked Questions

What if I drop below 60 percent course load (or 40 percent for students with permanent disabilities)?

To remain eligible for your funding or for interest free status, you must complete a minimum of 9 semester hours per semester for undergraduate programs and a minimum of 6 semester hours per semester for graduate programs for the entire study period you have received funding. If you intend to drop a course or audit a course, we advise to check in with the Financial Aid & Awards Office to ensure it does not affect your eligibility for loans.

Make sure you attend all classes, hand in all assignments, and write all the exams; otherwise you may be considered withdrawn from the course and potentially drop you below the minimum course load level.

Dropping below the minimum course load will result in a reassessment and may result in an overaward.

An overaward occurs when a student receives more assistance than they are eligible to receive. This may be caused by a reassessment on an application due to new information received, an audit being conducted by StudentAid BC, a withdrawal from full-time studies or other reasons. In most circumstances, students will have a loan overaward deducted from any future loan entitlement.

What if I’m enrolled in courses at TWU and another institution (split-enrolment)?

If you are enrolled in courses at TWU and at another institution concurrently, this is referred to as split enrolment. You may be eligible for loan funding provided that the course is for credit at a designated school and is essential to your degree at TWU. The course(s) must have a start and end date within the study period you are receiving funding for. Open learning courses are not eligible.

You will need approval from the Financial Aid & Awards office by completing the split enrolment approval form.

Out-of-Province Canadian Loans

Students must apply for a student loan through the province you must apply to the province in which they are considered to be a resident. Residency is defined as the last province you or your parents have lived in for 12 continuous months without you being a full-time post-secondary student. If you have residency in a province or territory outside of BC, please follow the link below corresponding with your place of residency:

When completing your loan application, you may be required to have a Program Information Form completed by our Financial Aid Office. For some provinces such as Ontario, we receive an electronic request to complete this form; but for other provinces, such as Saskatchewan or PEI, you will be required to send us the paper copy to fill out and submit for you. Applications, such as BC and Alberta, will have you select the program from a drop-down menu and will already have our tuition costs in their system.

Confirming Enrolment and Receiving Your Student Loan

The National Student Loans Service Centre (NSLSC) administers your loan on behalf of the federal and provincial government. After your MSFAA has been processed by NSLSC, a request will be sent electronically to TWU to confirm your enrolment.

Note: the earliest we receive the request to confirm your enrolment is a few weeks before classes begin each semester.

After your MSFAA has been processed and your enrolment has been confirmed, your funds will be either deposited electronically into the bank account you have specified. The deposit usually occurs within seven business days of the confirmation of enrolment date.

Interest Free Status

Returning students who receive further student loan funding

Returning students who are not receiving further student loan funding

Ineligible Programs

Student loan funding is limited to students enrolled in full-time programs leading to a formal credential such as a certificate, diploma, or degree. Programs that are only offered on a part-time basis, or programs that are specifically designed to meet the needs of the full-time members of the workforce (such as Executive Programs) are ineligible for government student loans. Note: if your program is ineligible for student loan funding, it is also ineligible for interest-free status.

The following programs are ineligible for government student loan funding:

Certificate Programs

Project Management Professional Program
Graduate Certificate in Christian School Education
Certificate in Geographic Information Systems
Graduate Certificate in Educational Leadership
Graduate Certificate in Biblical Studies and Christian Thought
Graduate Certificate in Leadership

Undergraduate Degree Programs

Casual Studies (student enrolled in classes specifically to meet the entry requirements for a program that leads to a degree or credential may be eligible as Qualifying Studies.

Graduate and Doctoral Degree Programs

Executive MBA
MBA – Management of the Growing Enterprise specialization
MBA – Non-Profit and Charitable Organization Management specialization
Master of Arts in Educational Studies – Special Education
Master of Arts in Leadership
Master of Science in Nursing (MSN)
Doctor of Ministry

Disclaimer: The Financial Aid Office keeps this list as up to date as possible, however, program changes can occur without the knowledge of the Financial Aid & Awards office. Please contact us if you have concerns about the eligibility of your program.

Student Line of Credit

How are student lines of credit different than government loans?

The main difference between a student line of credit and the government student loan program is in how the interest accumulates and the loans are repaid. If you qualify for a student line of credit, you will usually be responsible for all the interest that accrues as soon as you take funds from your line of credit. If you do not take any funds from your line of credit, there will be no interest. In addition, you will usually have to make monthly interest payments while you are in school. In contrast, if you qualify for a government student loan, you will not accrue interest provided you are enrolled as a full-time student, and you take the appropriate steps to update your enrolment information with the National Student Loan Service Centre (for Out of Province loans). For BC residents, apply for interest free status via StudentAid BC. You would not make any monthly payments either, if you notify your service providers that you are attending school full-time.

Additionally, a line of a credit is a set amount, whereas students may apply for a student loan each academic year.

Recommendation

Due to the advantages offered by the government student loan program, we recommend you apply for a government loan first before looking at student lines of credit. If you do decide to pursue private funding sources, be sure to shop around and research the terms and conditions carefully as they can vary between financial institutions. A co-signer may also be required.

U.S. Student Loans

TWU is an approved Title IV institution, which allows eligible US students to access the Federal Direct Loan Program.

However, since TWU is considered a foreign school by the U.S. Department of Education, students are not eligible for Pell Grants or Perkins Loans.

Federal Direct Loan Program

At TWU, the loans available through the Federal Direct Loan program are Direct subsidized and Direct unsubsidized loans, as well as Parent and Graduate PLUS loans.

Student Eligibility

To be eligible for a Direct Loan you must:

Be a US citizen, national, US permanent resident, or an eligible non-citizen
Demonstrate satisfactory academic progress while attending TWU.
Have a valid Social Security Number
Comply with the US Selective Service System registration requirements
Have completed a high school diploma or equivalent

Program Eligibility

You must be registered in at least 6 semester hours per semester (5 semester hours for graduate programs), in an eligible program at TWU. The following are not eligible for Direct Loans:

BSc. and MSc. in Nursing
BA and MA in Linguistics
BSc. In Biotechnology
Laurentian Leadership Centre programs
Study abroad or student exchange programs
Online programs
Online courses, correspondence courses, directed and independent studies courses.
Internships, with exceptions being teacher placements and counselling placements for Masters’ programs. Please contact the Financial Aid Office if you plan on taking an internship outside of these exceptions.

It is the student's responsibility to enroll in eligible programs, and to be familiar with Federal Student Aid eligibility requirements for foreign schools. If you enrol in an ineligible course, your program will become ineligible for Direct Loan funding. If you plan to study in any of these programs, then you can look into private loan options.

Documents & Policies

Satisfactory Academic Progress (SAP) Policy - Official policy on maintaining eligibility in regards to academic standards and progress
Refund of Title IV funding (R2T4) Policy - Official policy on returning US loan funding for withdrawals
Exit Counseling - Exit counseling is required when you graduate, leave school, or drop below half-time enrolment.
Consumer Information Disclosure – Consolidated consumer information for students

Direct Subsidized & Unsubsidized Loans

Students may be eligible to receive a combination of subsidized and unsubsidized loan funding. Visit Federal Student Aid for more info on subsidized/unsubsidized loans.

Direct Subsidized Loans

Must demonstrate financial need, which is calculated by subtracting the EFC (Expected Family Contribution) from cost of attendance.
Interest-free while you are in school at least half-time
Available to undergraduate students only

Direct Unsubsidized Loans

Available to undergraduate and graduate students
Not based on financial need
Interest is charged from the date the funding is disbursed into the student’s account
Choose to pay interest while in school or added to the principal balance of the loan

Direct Subsidized & Unsubsidized Loan Amounts

Maximum amounts depend on whether you are a dependent or independent student. The U.S. Department of Education has set yearly loan limits as well as aggregate (lifetime) limits.

Annual Loan Limits

Year	Dependent Students	Independent Students
First-year	$5,500 – No more than $3,500 of this amount may be in subsidized loans	$9,500 – No more than $3,500 of this amount may be in subsidized loans
Second-year	$6,500—No more than $4,500 of this amount may be in subsidized loans.	$10,500 – No more than $4,500 of this amount may be in subsidized loans
Third-year and beyond	$7,500 – No more than $5,500 of this amount may be in subsidized loans	$12,500 – No more than $5,500 of this amount may be in subsidized loans
Graduate students	Not applicable	$20,500 (unsubsidized only)

Interest Rates & Fees

Visit Federal Student Aid for current interest rates and fees.

Parent & Graduate Plus Loans

Parents of eligible dependent children studying at the undergraduate level as well as graduate students studying at least half-time can apply for PLUS loans.

Not based on financial need
Interest is charged from the dates the funds are disbursed into the student’s account.
A credit check assessment by the US Federal Government is required.

Visit Federal Student Aid for more info on Parent/Graduate PLUS Loans.

Plus Loan Amounts

The maximum PLUS loan amount you can borrow is TWU's calculation of your cost of attendance minus any other financial aid (including subsidized and unsubsidized loans).

Interest Rates & Fees

Visit Federal Student Aid for current interest rates and fees.

How to Apply

Applying for a US Loan at TWU is different than schools in the U.S. As a foreign school, we are not notified if you have submitted the MPN (Master Promissory Note). 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.

All the steps below must be completed in order for your loan to be processed. TWU will not be aware that you are applying for a U.S. loan until we receive the US Loan Request Form.

Steps to Apply

Complete the FAFSA form. Remember to add Trinity Western University by using school code G09486.
Complete a Master Promissory Note (MPN) at Federal Student Aid for each loan type you are applying for. There are separate MPN’s for subsidized/unsubsidized and PLUS loans.
If this is your first Direct loan application at TWU, complete your entrance counselling session at Federal Student Aid.
If you are applying for a Parent or Graduate PLUS Loan, complete your application at Federal Student Aid.
Submit the US Loan Request Form(s).
- Request form for Direct Subsidized and Unsubsidized Loans
- Request form for PLUS Loans
Your loan will not be processed until this form has been received. Please send the completed form to awards@twu.ca

EXIT COUNSELLING

Exit counselling is required when you graduate, leave school, or drop below half-time enrollment. Exit Counselling provides important information preparing you for federal student loan(s) repayment. This can be completed at Federal Student Aid.

Repayment

Understanding the repayment process for your federal student loans can go a long way toward building a solid financial foundation. Remember, federal student loans are real loans, just like car loans or mortgages. You must repay a student loan even if your financial circumstances become difficult. Payments are arranged through your loan servicer. Each servicer has its own payment process, so check with your servicer if you aren’t sure how or when to make a payment. You are responsible for staying in touch with your servicer and making your payments, even if you do not receive a bill. Find out more about repayment of your federal student loans.

Grace Period

The grace period is a set period of time after you graduate, leave school, or drop below half-time enrolment before you must begin repayment on your loan. The grace period gives you time to get financially settled and to select your repayment plan. Direct Subsidized and unsubsidized loans have a six-month grace period However, not all federal student loans have a grace period. Note that for most loans, interest will accrue during your grace period.

Choosing a Repayment Plan

You have a choice of several repayment plans that are designed to meet your needs. The amount you pay and the length of time to repay your loans will vary depending on the repayment plan you choose. Get details about repayment plans and calculate your estimated repayment amount under each of the different plans.

Loan Consolidation

You can apply to have your loans consolidated to one Loan Servicer. It may be easier to manage your finances if you are making payments to only one Servicer.

Deferment & Forbearance

Deferment and forbearance offer a way for you to temporarily postpone or lower your loan payments while you’re back in school, in the military, experiencing financial hardship, or in certain other situations. Find out more about deferment and forbearance.

U.S. Private Loans

We recommend that you borrow through the federal student loan before considering private loan options. You can learn about the difference between US Federal Direct Loan program and private loans at Federal Student Aid. There are a limited number of lenders available for students who are studying outside of the US. We strongly encourage you to explore your options thoroughly. TWU does not have a preferred lender for private loans.

Email awards@twu.ca if you are pursuing a private loan option so that we can review your borrowing amount and repayment responsibilities.

International Student Loans

Canadian government student loans are only available to Canadian citizens and permanent residents, we recommend that students research loan options in their home country. Banking institutions in Canada may offer student lines of credit to those who have a credit history in Canada.