US Student Loans
Find information on student loans and other forms of funding for US Students.
IMPORTANT: DUAL CITIZENS OF CANADA AND THE U.S.A. ARE ENCOURAGED TO EXAMINE STUDENT LOAN OPPORTUNITIES THROUGH THE CANADA STUDENT LOAN PROGRAM FIRST.
- Students from the United States of America interested in applying for US Federal Student Aid -must follow a number of steps and procedures.
- Please begin by reading 2018-2019 ACAD-US STUDENT LOAN INFORMATION
- To be considered for the Direct Stafford Loan, students must complete an application for Federal Student Aid (FAFSA) website.
- The Alberta College of Art + Design School Code is G32983
- IMPORTANT: The FAFSA - Master Promissory Note (MPN) must be completed ANNUALLY on-line.
- Information will be collected through this the Federal Student Aid application and will be used by the US Department of Education to calculate the Expected Family Contribution (EFC).
- Students must complete and submit the ACAD BORROWERS CONFIRMATION FORM to the Financial Aid + Student Awards Advisor immediately once approved for US funding.
- US students may also apply for Sallie Mae funding.
- Students who are first-time US student borrowers (only) of Direct Stafford loans, must complete the Entrance Counselling.
- It is a US legal requirement for all students who take out Direct Loans to undergo Entrance Counselling in order to understand the terms, conditions, and responsibilities of US loans.
- This is an easy and quick online process. Click HERE to complete the Entrance Counselling
- Students will need a PIN - the same one used for the loan application on the FAFSA website in Step 1 above. Once completed, print out the Entrance Counselling Confirmation Form and forward to the ACAD Financial Aid + Student Awards Advisor, along with the completed ACAD BORROWERS CONFIRMATION FORM.
*Students who have previously completed the Entrance Counselling through the US Department of Education website, will be considered to have completed this requirement.
PLEASE NOTE: ACAD FINANCIAL AID + STUDENT AWARDS OFFICE MUST RECEIVE YOUR COPY OF THE COMPLETED ACAD BORROWERS CONFIRMATION FORM (WHICH MUST BE DONE EACH ACADEMIC YEAR) AND A COPY OF THE ENTRANCE COUNSELLING CONFIRMATION FORM (FOR FIRST TIME BORROWERS ONLY).
RECEIVING US LOANS
- All required documentation must be submitted before an application will be considered complete and assessed.
- Some applications may take longer due to flags or verifications from FAFSA.
- Once students are approved, the first disbursement will be September and the second disbursement will be January.
PLEASE NOTE: FIRST-YEAR, FIRST-TIME BORROWERS WILL RECEIVE THEIR DISBURSEMENT IN THE END OF SEPTEMBER.
- US regulations also require loan recipients to complete Exit Counselling when they graduate or drop to part-time status or withdraw from the Alberta College of Art + Design.
- This must be completed before students graduate, drop to part-time attendance or withdraw – regardless of whether the individual plans to transfer to another post-secondary institution or re-enroll at ACAD at a later date.
- Exit Counselling assists students with understanding their rights and responsibilities as a loan recipient.
- Students will need a PIN – the same one used for the loan application on the FAFSA website. This exit procedure will take approximately 30 minutes.
- When finished with the process, the Completed Exit Counselling confirmation page must be emailed to the ACAD Financial Aid + Student Awards Advisor.
- The student’s records will be updated to confirm that the requirements (established by FAFSA) have been met of Exit Counselling.
WITHDRAWING FROM ACAD
- In order to officially withdraw from ACAD, students must complete a Withdrawal From College Form at the Registrar’s Office.
- The US student must also see the Learning Assistance Resource Manager and the Financial Aid and Student Awards Advisor.
- Tuition Refunds (if any) are calculated on the basis of the official date of withdrawal, as indicated on this form, not the date when the student stopped attending classes.
- Students receiving funding by US Government Student Government Loans, any refund monies will be sent to the appropriate loan agency and applied toward the student’s outstanding loan.
- Students who have US Student Loans are required to complete Exit Counselling.
- Follow the links on the US Government Student Loans website
DROPPING BELOW NINE CREDITS IN THE FALL + WINTER SEMESTER
- US students must see the Learning Assistance Resource Manager and the Financial Aid and Student Awards Advisor if they are at risk of dropping below nine (9) credits in the Fall or Winter semester.
ACAD Financial Aid + Student Awards Office: