Financial planning and student loans

Financial planning and student loans

Going to university is an investment in your future. The cost of tuition, books, residence fees or rent, food, monthly bills, clothing, and entertainment can add up quickly, so having a plan for financing your education is essential. To help you offset your costs, student loans and bursaries are two options you may want to consider.

Student loans

For Canadian citizens or permanent residents

If you’re a Canadian citizen or permanent resident of Canada, you may be eligible for a student loan if you’re studying at UBC Okanagan or UBC Vancouver. Student loans offer two big advantages. First, the government will pay the interest on your loan as long as you’re a full-time student at UBC Okanagan or UBC Vancouver. Second, you’re not required to begin repaying your loan until six months after you graduate (or you cease to become a full-time student). If you’re a BC student, apply for a loan online through StudentAidBC. If you’re coming from another province or territory, apply through your provincial or territorial lender.

For US citizens or dual US-Canadian citizens

If you’re a US citizen, or a dual citizen of the United States and Canada, you’re eligible to apply for a Direct Loan (Direct Subsidized Loan, Direct Unsubsidized Loan, and/or Direct PLUS Loan). It can take a while for loan applications to be processed, so we recommend applying at least six weeks before the term starts to ensure funding is available in time.


If you’re a Canadian citizen, permanent resident of Canada, or refugee, and you have unmet financial need even after receiving a student loan, you may be eligible for a UBC bursary from UBC Okanagan or UBC Vancouver. If you’re interested in a bursary, we recommend submitting a student loan application by July 31 to ensure that your student loan is confirmed by the bursary application deadline of September 15.


If you have questions about financial planning or financial aid opportunities, UBC can help:

UBC Okanagan: Contact Student Records and Financial Services at or +1.250.807.9100

UBC Vancouver: Contact your Enrolment Services Advisor.

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