For a listing of external awards please visit: kingsu.ca/financial-aid.
Government Student Funding
Student Loans for Full-Time Students
If you are a Canadian citizen, a permanent resident of Canada, or a protected person, you may apply for a government student loan. Students who need financial assistance are advised to apply online to their province of residence (you are a resident of the province or territory where you have most recently lived for at least 12 consecutive months without being a full-time student at a post-secondary institution during those 12 months). Students should apply for government student loans at least 6-8 weeks prior to the first day of classes. Students can start applying for loans online each June for the upcoming year.
You are automatically considered for non-repayable grants when you apply for a full-time government loan. For more information on grant types and eligibility, please visit the government of Canada site: www.canlearn.ca.
Loans are distributed in two parts: 50% of funding in the Fall term (typically in federal loan funds) and the remaining 50% in the Winter term (typically in provincial loan funds). To be eligible for full time government loans, students must register for and complete at least 9 credits in each term. When studying full time, government loans are interest-free. One term only loans are available; apply two months prior to your class start date to ensure that funding is available on time. Please Note: King's is considered a public institution for student loan purposes.
Residents of Alberta apply through Alberta Student Aid: studentaid.alberta.ca
Students from other provinces/territories can apply through their local loan office. All other provinces/territory links can be found on: www.canlearn.ca
Part-Time Student Loans
Students taking fewer than 9 credits per semester can apply for Part-Time Funding through their home province, the last province where they lived for 12 consecutive months without being a full-time student. Part-Time Funding consists of Canada loans and grants, as well as some provincial grants.
Alberta residents can apply for Part-Time Funding at www.studentaid.alberta.ca. All other students should follow their home province's application process.
On-campus jobs are available to students studying full-time at King's. Applicants must have a GPA of at least 2.00. A total of approximately $640,000 is paid to student employees.
Applications for campus employment are online: Here and are due by April 30 (deadline subject to change).
A number of jobs are usually available in the following departments: Athletics, Facilities, Conference Services, Campus Bookstore, Development, Admissions, Food Services, Information Technology Services, Library, Reception, and Student Life. The application form will specify the experience and/or ability required for each type of job and will provide expanded job descriptions.
Government Loans for U.S. Students
Federal Student Aid: Direct Loan Program
Students who are U.S. Citizens (or U.S. Nationals) may apply for Title IV funding under the U.S. Department of Education's government Direct Loan program. Our designated institutional code is: 026119
The Direct Loan Program offers these types of loans for full time undergraduate students:
• Subsidized: for students with demonstrated financial need, as determined by federal regulations. No interest is charged while a student is in school full time, during the grace period, and during deferment periods.
• Unsubsidized: no financial need required; interest is charged during all periods, including while in school and within the grace period.
•PLUS: unsubsidized loans for the parents of dependent students. Interest is charged during all periods.
Cost of Attendance
King's approves and issues US loans using this calculation:
•Cost of attendance (COA) - Expected Family Contribution (EFC) - Other financial assistance = Eligible loan amount (Loan amounts cannot exceed the total cost of attendance)
To apply, students must:
• Complete the Free Application for Federal Student Aid (FAFSA) on: http://www.fafsa.ed.gov/
• Sign a Master Promissory Note (MPN) by going to: https://studentloans.gov
• If you are a first time borrower, complete mandatory Entrance Counselling: https://studentloans.gov
• Notify King's of your submitted FAFSA at least two months prior to school commencing.
Once your application has been fully reviewed you will be sent a letter (PDF) via email to the email address listed on your FAFSA. It will indicate your eligibility and loan amount(s), if applicable.
Know your Loan Limits! Before you think of applying for funding, know how much you can borrow! Most first year students are not eligible for more than USD$5,500 for the entire school year! See https://studentloans.gov for more information
IMPORTANT!
• Distance and online learning courses are not eligible for Federal Student Aid (even one course will disqualify you)
• Part-time students are not eligible for Direct Loans - all students must take a 60% course load (e.g. Minimum of 9 credits per term/semester
• Federal Pell Grants and Federal Work-Study are not available outside of the U.S.
• Direct Loan funding is not available for students in a non-degree program (ie. diploma, certificate)
Funds cannot be released to first-time loan borrowers until they've attended at least 30 days of school. Average costs for one (8 month) school year total CAD$19,000 to $25,000 dollars. Your loans may not cover all of your educational costs, so please review your expenses carefully against your available loan limits by visiting: https://studentloans.gov
Satisfactory Academic Progress (SAP) & Course Load Requirements
There are academic performance expectations when you are studying with approved U.S. Federal funding; students are expected to complete and pass at least 60% of a full course load (minimum 9 credits per term) or will have subsequent loans put on probation or denied.
Open a Canadian bank account
The Direct Loan Program sends funds via wire transfer from the US treasury to The King's University. We will credit your tuition account for the term (after verifying eligibility) and all loan money will be applied to your fees. If, after payment, your fees are paid in full, students will receive a refund cheque in Canadian dollars. If you deposit this into a US bank account, your money will most likely be held for 2-4 weeks but if you have a Canadian dollar account, you avoid this holding period. Note: There is no bank on the King's campus, but there is an ATM.
Visa Requirements
All international students must show Canadian immigration that they have enough funding to pay for their educational & living expenses. Our office can provide proof of funding letters–upon request–if we have received your loan information. Please allow 2-4 weeks for processing.
Leaving King’s
Please inform the Coordinator of Student Accounts and Awards if you intend to cease studies so that we may provide you information about loan repayment.
Exit Counselling
Once you have completed full-time study (whether by completing or ceasing study), you must take mandatory Exit Counselling so that you are aware of repayment options. You may do this online at: https://studentloans.gov
For more information about obtaining a Federal Student Loan, please contact the Coordinator of Student Accounts and Awards:
In Edmonton: 825-901-0991
Toll-free: 825-901-0991