Scholarships and Financial Aid

Direct Loans for American Students

American students can apply to the William D. Ford Federal Direct Loan (Direct Loan) Program, and parents of dependent students can apply for Direct PLUS Loans.

The U.S. Department of Education (the Department) lends the money directly to you through Acadia (OPE ID School # 00844900, FAFSA school code # G08449).


Applying for a Direct Loan

You will need to complete the Free Application for Federal Student Aid (FAFSA). We will use the information from your FAFSA to assist in determining your eligibility for a Direct Subsidized Loan and/or a Direct Unsubsidized Loan. You need to include our FAFSA School code (G08449) on your file in order for us to access your information.

 Complete the FAFSA online

  • To complete the FAFSA, you must have a Federal Student Aid ID. To apply for a ID if you do not already have one, or for customer service regarding a previously assigned ID, visit the Federal Student Aid ID website.
  • After the Department processes your FAFSA, you will receive a Student Aid Report (SAR). Please review the SAR, including the "COMMENTS ABOUT YOUR INFORMATION" section and "WHAT YOU MUST DO NOW".

Continue to learn more about students applying for Direct Loans

Students applying for Direct Loans

Continue to learn more about parents applying for Direct Plus Loans

Parents applying for Direct PLUS Loans

Continue to learn more about both students and parents applying for loans

Students and Parents both applying for Direct and Direct PLUS Loans


Requirements and Exceptions

  • Pell Grants are not applicable outside of the US.
  • You will need to be accepted in a degree-granting program (or otherwise eligible program) at Acadia on at least a half-time basis. As per regulation #34 CFR 600.51(d), students taking online courses are not eligible to receive US Direct Loans through Acadia.
  • You need to be within the borrowing limits for Direct Subsidized Loans and Direct Unsubsidized Loans.
  • You must meet the Satisfactory Academic Progress requirements for US William D Ford Direct Loan. You are evaluated for satisfactory academic progress at the end of each academic year of study.

Benefits and Consumer Information

Consolidating FFEL Program Loans into the Direct Loan Program

If you already have FFEL Program loans and will now be receiving Direct Loans, consolidating your FFEL and Direct Loan program loans together into a Direct Consolidation loan may make loan repayment easier. If you consolidate, you will have just a single monthly payment.

Consolidating your FFEL Program loans into a Direct Consolidation Loan may also allow you to take advantage of certain benefits that are offered only in the Direct Loan Program, such as Public Service Loan Forgiveness and the Income Contingent Repayment Plan.

To learn more about when you may consolidate, the pros and cons of doing so, and the application process, visit Federal Student Aid or call 1 (800) 557-7392 (TDD/TTY: 1 (800) 557-7395).

Benefits of the Direct Loan Program

Direct Loans and FFEL Program loans have the same annual and aggregate loan limits, the same deferment and cancellation provisions, and most of the same repayment plans (Standard, Graduated, Extended, Income-Based).  The interest rates for FFEL Program Stafford Loans and Direct Subsidized Loans/Direct Unsubsidized Loans are also the same. 

However, Direct Loans also have some benefits that are available only in the Direct Loan Program:

  • Up-Front Interest Rebate
  • Income Contingent Repayment Plan (in addition to the Income-Based Repayment Plan)
  • Public Service Loan Forgiveness Program
  • No interest charged (for up to 60 months) during qualifying periods of active duty military service (for loans first disbursed on or after October 1, 2008)
Consumer Information for Direct Loan Students
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US Department of Education US Department of Education US Department of Education Federal Student Aid
National Student Loan Data System NSLDS National Student Loan Data System
Entrance and Exit Counselling US Department of Education Entrance Counselling and Exit Counselling

 

Contact

Pam D'Entremont
Scholarships and Financial Aid
Box 78, 15 University Avenue
Wolfville, NS
B4P 2R6
(902) 585-1574
(902) 585-1081 (Fax)
pam.dentremont@acadiau.ca