U.S. Federal Student Aid

Loan Opportunities

William D. Ford Federal Direct Loan Program

  • Direct Subsidized Loans are loans made to eligible undergraduate students who demonstrate financial need. Students who are registered full-time are eligible for this loan and will not be charged interest during the study period.
  • Direct Unsubsidized Loans are loans made to eligible undergraduate, graduate, and professional students, but eligibility is not based on financial need. Interest will be charged from the time the loan is disbursed until it has been repaid.
  • Direct Grad Plus Loan  are loans made to graduate or professional students to help pay for education expenses not covered by other financial aid. Eligibility is not based on financial need, but a credit check is required.

For more information, please refer to the following resources:

To understand how these loans are calculated and details about annual maximums and limits, see the How Loans are Determined section below.

Student Eligibility 

U.S. citizens may apply for financial assistance from the U.S. Federal Direct Loans if they are accepted and enrolled full-time in the CMCC Doctor of Chiropractic Degree program. Students studying outside of the U.S. are not eligible for Pell Grants. The FAFSA application becomes available October 1 of each year for the next academic year.

If a student is a dual citizen of the U.S. and Canada, they must research and determine which federal loan program that is best suited for their financial aid needs. A student cannot obtain both federal loans from the U.S. and Canada simultaneously. 

CMCC will confirm that the student has completed a High School Diploma.

Application Process 

1. Complete a Free Application for Federal Student Aid (FAFSA) (CMCC’s school code is G21166). FAFSA applications need to be completed annually. Some Tips for ensuring proper processing with the U.S. Department of education:

  • Use the name exactly as listed on the Social Security Card
  • Use the IRS Data Retrieval Tool on FAFSA to transfer information from your U.S. tax returns to the FAFSA. This will help to minimize both data entry errors and verification requirements
  • Use the same mailing address in both the FAFSA and the Master Promissory Note
  • Carefully review information on the summary page before submitting
  • A link to the Student Aid Report (FAFSA that has already been processed by the U.S. Department of Education) is provided to the email address listed on the FAFSA within 48 hours. Review for any errors, or if any additional action is required. Corrections can be made at fafsa.ed.gov

2. Email CMCC’s Financial Aid Office at finaid@cmcc.ca to inform them that you will be applying for Direct Loans.

3. Complete the loan Entrance Counselling session online. All students applying for U.S. Direct Loans who have not previously completed U.S. Direct Loan Entrance Counselling to attend CMCC must complete this one-time only step as part of the FASFA application process.

4. Complete the online Master Promissory Note (MPN) form for each loan. All students must complete the Direct subsidized/unsubsidized Loan Master Promissory Note for each year that a U.S. Direct Loan application is being submitted.

      • Tip: Use the same mailing address in both the FAFSA and the Master Promissory Note

      How Loans are Determined

      Loan Amount

      The amount a student receives for their subsidized loan is based on the information the student provides when completing the FAFSA form. The unsubsidized loan is calculated based on the cost of education minus other sources of financial aid and loans.

      How the loan is calculated

      The loan amounts are calculated by the following formulas (see definitions below):

      • Subsidized loan = (COA) - (EFC) - (EFA)
      • Unsubsidized loan = (COA) - (Subsidized Loan) - (EFA)
      • Cost of Attendance = (COA) - (EFC) - (EFA)

      The Cost of Attendance (COA) includes not only tuition and fees but also living expenses, books, supplies, personal expenses and transportation costs for the nine-month period while you will be in school.

      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 SAR and the Institutional Student Information Record (ISIR). It is based on a nine month period of enrolment.

      The Estimated Financial Assistance (EFA) usually takes the form of scholarships, grants, loans or work that is awarded on the basis of postsecondary enrolment.

      For more information on annual and aggregate maximums, please visit the How much can I borrow section of the Federal Student Aid website.

      Disbursements/How payments are made

      • Students in the Doctor of Chiropractic Degree program will receive two disbursements: one after the start of the academic year and one at the beginning of the New Year
      • Students must be in good academic standing and be registered full-time or at least half-time in order to receive their loan payments. U.S. Direct Loan payments will be made in Canadian dollars to the Student’s CampusNexus account and will first pay out any outstanding tuition fees. Any remaining amount after outstanding fees have been paid will be refunded to the student by the Accounting and Finance office.
      • Students must set up a Canadian bank account, and provide their Canadian Bank Account information to the Financial Aid & Awards Advisor upon request

        Dates and Deadlines

        Application Processing Dates and Deadlines

        New loan applications cannot be completed until final acceptance to CMCC has been confirmed

        • Students must submit their required documentation to the Financial Aid Office by mid-July to ensure a timely release of their loan documents
        • Loan applications received after mid-August may be delayed therefore outstanding student account balances may subject to interest charges
        • Processing student loans can take up to 6-8 weeks. Applications with missing documentation and/or require clarification details will require additional processing time
        • As per U.S. Department of Education guidelines, student loans can only be originated 10 days prior to the first day of classes

        Notification that your Government Loan has Arrived

        Once your government student funds are received at CMCC from the U.S. Authorities, they will be posted to your student account. Please note that the U.S. exchange rate is effective the day the funds are posted to your student account.

        You will also receive an email outlining the amount of funds you have been awarded.

        Borrower’s Responsibilities and Obligations

        Student’s must:

        • Maintain Satisfactory Academic Progress each year in order to continue to be eligible for further funding. See Satisfactory Academic Progress Policy.
        • Immediately inform the Financial Aid Office of any academic (including course load reduction or withdrawal), financial, marital status or personal information changes. Such changes may result in the student being ineligible for further funding and being required to repay unearned loan funds. See Return of Title IV U.S. Direct Loan Funds Policy.

        Exit Counselling

        Students must complete an Exit Counselling interview and begin repayment of their student loans when they are no longer registered in full-time studies (i.e., graduation, withdrawal, or course load reduction to less than half-time).

        Loan Repayment

        Repayment begins six months after a student graduates, leaves school, or drops below a half-time course load. Please visit Student Loan Repayment for more details.

        Consumer Information

        Consumer Information is a comprehensive list of websites about U.S. financial aid and CMCC.

        Loan Default Management Plan

        CMCC has the following strategies in place to ensure that students and their parents are fully informed about and supported through the U.S. Direct Loans process. Supporting students in the U.S. Direct Loans process ensures that they maintain their eligibility for U.S. Direct Loans while they are registered at CMCC.

        Questions regarding the Application Process

        If you have any questions regarding the application process, please refer to studentloans.gov or contact the student inquires line at 1-800-4-FED-AID (1-800 433-3243). 

        CMCC Contact Information

        If you have any questions, please email finaid@cmcc.ca or contact Peggy Poole, Financial Aid & Awards Advisor at 416-482-2340, x103.