Direct Lending
Memorial University is an eligible foreign institution for U.S Financial Aid. Students from the U.S who are interested in participating in the Stafford (Direct Lending) Program should contact the Scholarships and Awards Office. The following information sheet is helpful in determining the first steps for students interested in the Direct Lending program.
Please note that all students must complete a FAFSA, an electronic MPN and Entrance Counselling before any loans can be administered.
Assuming eligibility, your loan amounts will be determined by your year and level of study as well as your dependency status and loan limits.
Important recent updates from the U.S. Department of Education:
- Medicine and Nursing students do not qualify for Direct Lending
- Distance courses do not qualify for Direct Lending
- Graduate students no longer quailfy for subsidized Direct Loans. 100% of graduate Direct Loans is now unsubsidized
- Students must be working toward a degree program in order to be eligable for Direct Loans at Memorial. Students working solely toward a certificate or diploma program do not qualify
Please note, Graduate Students partcipiating in Direct Lending are not eligible for Scholarship Payroll Deductions.
