Memorial University is an eligible foreign institution for U.S. Financial Aid and the Federal Code is G09500.

Steps to apply

Students from the U.S. who are interested in participating in the Stafford (Direct Lending) Program should contact the Scholarships and Awards Office at usfinancialaid@mun.ca. An information sheet will be helpful in determining the first steps for students interested in the Direct Lending loans.

Applying for US direct loans outside of the U.S. is different than applying in the U.S. Typically you are notified by the Department of Education that the university on your Free Application for Federal Student Aid (FAFSA) application will be notified. As a foreign school, we do not receive these notifications. 

You will need to complete a Direct Loan Funding application and then forward it to this office indicating your intention to apply for a US Direct loan. It should be sent to usfinancialaid@mun.ca. 

Direct Loan Funding Application - 2024/25

• Undergraduate student

• Graduate student

2024-25 processing deadlines

For Fall 2024, the FASFA, Master Promissory Note (MPN) and Entrance Counselling (for new applicants) should be completed by June 30, 2024 to allow sufficient time for processing which will begin in mid-July.

Final Deadline - To ensure federal aid is credited to a student's account before the end of the semester, all information should be submitted no later than 30 days before the last day of classes.

Cost of Attendance (COA)

The cost of attendance (COA) calculated by Memorial University the University and it includes tuition, student fees, books, a return transportation allowance, and a standard living allowance for your academic study period. For undergraduates, COA is based on an eight month period (undergraduate) or on a twelve month period for graduate students. Students can only borrow up to the cost of attendance. These costs are approximations in Canadian dollars, and will vary depending on course enrollment, program of study, and other individual and personal variables. Get more information about the COA.

The expected family contribution (EFC) is based on the student's (and if applicable, the student's family's) income and assets, as was reported on the FAFSA form. The EFC is reported on the student’s Student Aid Report (SAR) and is based on an eight month period of enrollment. For graduate students attending for three semesters, the EFC will be adjusted accordingly.

The estimated financial assistance (EFA) usually takes the form of scholarships, grants, loans, etc that is awarded on the basis of enrollment at Memorial University.

The COA is used to calculate loan amounts using the following formulas

Subsidized loan = (COA) - (EFC) - (EFA)
Unsubsidized loan = (COA) - (EFA) - (Subsidized Loan)
PLUS loan = (COA) - (Subsidized Loan) - (Unsubsidized Loan) - (EFA)

Refer to the Memorial's undergraduate and graduate student websites for details on our tuition, fees and other estimated expenses.

Annual Maximum Loan Limits for Students

The annual maximum loan limit a student (undergraduate and graduate/professional) may borrow is established by the university based on the cost of attendance, if the student is dependent or independent and the year (based on credit accumulation) at Memorial University.

Additional amounts may be borrowed each year above the Stafford amounts through the Parent PLUS Loan Program OR private, credit-based loans. The maximum amount an individual may borrow is established by the university based on the cost of attendance. If you are a first-year undergraduate student and a first-time borrower, you will have to wait 30 days after the first day of your enrollment period (semester) for your first disbursement.

Graduate/Professional students will be eligible to borrow up to $20,500 in Federal loans. Additional amounts may be borrowed each year above this amount through the Graduate PLUS Loan Program or private, credit-based loans.

If you want to cancel or reduce your loan prior to disbursement, contact us at usfinancialaid@mun.ca to reassess your loan.

Eligible Programs

Most bachelor's, master's and PhD programs are eligible for Direct loan programs with the exception of those programs with internships, externships, work placements and some programs with co-op placements. Certificate and diploma programs for both undergraduate and graduate students are not eligible.

Memorial University students going on an exchange can receive U.S. Direct loans only if the exchange school is located outside of the United States and participates in the U.S. Direct Loan program.

Study abroad, written arrangements and internships/externships (as known as co-operatives placements)

There are many opportunities offered by Go Abroad Memorial for students to go on an exchange/study abroad opportunity. If you considering going abroad and you are eligible for U.S. student aid, email usfinancialaid@mun.ca to discuss your financial options before you apply to study abroad. Check out the 2022-23 current Title IV eligible Federal School Code List.

Study Abroad

An exchange opportunity with an institution that is title IV eligible located outside U.S., see section for participating schools.

There is no limitation on the amount of the program that may be offered by the host institution that is title IV eligible. However, the home (MUN) must provide the degree or recognized credential and offer at least some portion of the program.

An exchange opportunity to an institution located in the U.S. is permitted with an title IV eligible institution that provides no more than 25 percent of a student’s program.  This 25 percent limitation  includes coursework, research, work, or special studies offered by an eligible institution to include internship at an ineligible organization in the U.S.

An exchange opportunity with an institution that is not Title IV eligible, is permitted for no more than 25 percent of a student’s program, provided that the ineligible entity satisfies definition of ‘‘foreign institution’’. This is for ineligible institutions outside the U.S. only. The host institution may offer no more than 25% of the home institution’s program.

Limitations on attendance in the United States

Independent research done by an individual student in the United States  for not more than one academic year is permitted, if it is conducted during the dissertation phase of a doctoral program under the guidance of faculty, and the research is performed only in a facility in the United States.

Stacking the 25 percent allowance and the one  academic year allowed for dissertation research is not permitted; doctoral students taking advantage of both provisions are limited to one year of study/research in the United States

Internship/externships (as known as co-operative placements)

Included in the maximum 25 percent limit is an approved internship/externship (co-operative) component of an approved Memorial University program.  U.S. students can participate in an internship/externship (co-operative)  provided at an ineligible organization as described in CFR 668.5 (h)(2). The host organization may offer up to 25% of MUN’s program. Email usfinancialaid@mun.ca to confirm your eligibility and for further details. 

SAP Policy

U.S. Department of Education regulations provide specific requirements for Satisfactory Academic Progress. Each institution approved to disburse Title IV Aid must formulate and follow a SAP policy. SAP is a measure of whether a student is progressing adequately toward completion of his or her course of study. Students must be meeting the SAP guidelines to continue receiving Direct Loans at Memorial. Please review the following policy carefully:

• Undergraduate students
• Graduate students

Return to Title IV (R2T4) Policy

If a student receiving Title IV aid withdraws during the semester, the institution must determine if these funds are required to be returned to the U.S. Government.  Please review the following R2T4 Policy carefully.

Exit Counselling

You must complete exit counselling and begin repayment of your student loans when you leave your studies (graduation, withdrawal or course load reduction to less than half-time).

Educational In-School Deferment

You may request deferment of repayment of U.S. student loans using the In-School Deferment Request form. Submit your signed form to the Scholarships Office for completion.

Leave of Absence (For Graduate students who are Deferment only and do not receive U.S. Student Aid and for U.S. Students who do receive U.S. student aid) – The School of Graduate studies may approve a leave of absence from your Program if requested. You must also notify your Loan service provider and the International Student Coordinator at the Scholarships office regarding your approved leave of absence (LOA). If the approved LOA is greater than 6 months (which the U.S. Department of Education deems as your grace period), you will be considered as withdrawn and there will be repayment implications. This does not affect your LOA status with the University.

• Default Management Plan
• Budgeting/Managing Your Money

Other U.S. Loan funding

• Sallie Mae Smart loan
• Vermont Student Assistance Corp. (VSAC)

USDL 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 consumer education.

Additional Information

If you require further information about the information contained on this page, please email us at usfinancialaid@mun.ca.

From the U.S. Department of Education

• Students studying at Memorial University are eligible only for the Direct Loan portion of financial aid. Students cannot receive grants such as Pell, FSEOG and FWS grants.

• Students receiving Federal Student Aid cannot enroll in any distance courses. The Department of Education deems that a program of education that is offered by a foreign institution (schools outside of the United States) in whole or in part by telecommunications is not an eligible program. Therefore, student’s enrolled in such courses or programs will not qualify for FSA funds.  IF YOU TAKE DISTANCE COURSES WHILE RECEIVING U.S. STUDENT AID, FUTURE FUNDING WILL CEASE. UPDATE: UNDER THE CARES ACT, THIS RULE HAS BEEN RELAXED UNTIL MID 2023.

• A student with an intellectual disability is eligible for Federal Pell, FSEOG, and FWS grants only and is ineligible for Title IV Direct Loans. Refer to the following for further details.

• Medicine and Nursing students do not qualify for Direct Lending

• All courses taught through Queen's College, the Harlow campus, the Frecker Institute and the Labrador Campus do not qualify for Direct Lending.

• As of July 2012, graduate students no longer qualify for subsidized Direct Loans. 100% of graduate Direct Loans are now unsubsidized.