Scholarships and Financial Assistance

United States Students - Direct Loan Program

Acadia University (OPE ID School # 00844900)  participates in the William D. Ford Federal Direct Loan (Direct Loan) Program. U.S. students can borrow through the Direct Loan Program. The U.S. Department of Education (the Department) lends the money directly to students through the student's school.  

Please note:

  • Pell Grants are NOT applicable outside of the US.
  • As per regulation #34 CFR 600.51(d), students taking online courses are NOT eligible to receive US Direct Loans through Acadia.

Eligibility for Direct Loans

You will need to complete the Free Application for Federal Student Aid (FAFSA), just as you did under the FFEL Program. 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 may complete the FAFSA electronically via the FAFSA on the Web site at Acadia University's FAFSA School code is G08449 and must appear on your file in order for us to access your information.
  • To complete the FAFSA electronically, 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 Web site at
  • After the Department processes your FAFSA, you will receive a Student Aid Report (SAR). Please retain the SAR for your records and be prepared to provide it to us if we ask.
  • Students receiving US financial aid will be evaluated for satisfactory academic progress at the end of each academic year of study.

In addition to completing a FAFSA, you will need to be accepted in a degree-granting program (or otherwise eligible program) at our school on at least a half-time basis and meet other eligibility requirements such as maintaining Satisfactory Academic Progress (SAP) and being within the borrowing limits for Direct Subsidized Loans and Direct Unsubsidized Loans.

All US Loan students must meet the Satisfactory Academic Progress requirements for US William D Ford Direct Loan.

Direct Loan MPN Completion

You must complete aDirect Loan Master Promissory Note (MPN). Although you may have previously signed an MPN to receive FFEL or Direct Loan Program loans, these MPNs cannot be used to make Direct Loans at our school.

The MPN is the legal document through which you promise to repay your Direct Loans and any accrued interest and fees to the Department. It also explains the terms and conditions of your loans. However, you will need to complete a new Direct Loan MPN each academic year that you receive a Direct Subsidized Loan and/or a Direct Unsubsidized Loan at our school.

  • You may complete a Direct Loan MPN electronically via the website
  • To complete a Direct Loan MPN electronically, you must have a Federal Student Aid ID. This is the same ID used to complete the FAFSA.
  • After you complete your MPN, you will be able to print and retain it for your records. You do not need to provide us with a copy as we can access the MPN electronically.

Note: You also have the option to complete a paper Direct Loan MPN.  To do so, call the Department's Applicant Services staff at 800/557-7394 and then return the completed paper MPN to the Department at the address included in the instructions that will be provided to you.  We will be notified of your completion.

Information required by Acadia University's Scholarship and Financial Assistance Office:

Please email or fax (902) 585-1081 the following information. Indicate whether these costs are US or Canadian dollars.

  1. Any financial aid that you are receiving for the academic year including but not limited to grants, scholarships, fellowships, other loans, etc.  (amount and source)
  2. Laptop make, model and total purchase cost (if you are purchasing one for this academic year and wish the cost to be included in your estimated cost of attendance)
  3. The amount of Direct Loan the student is requesting as well as the amount of Direct  PLUS Loan the parent is requesting.

Direct Loan Entrance Counseling Completion

If you are an undergraduate or graduate/professional student and have not previously received a FFEL Stafford Loan, Direct Subsidized Loan, or Direct Unsubsidized Loan, you must complete Direct Loan Entrance Counseling before you can receive a Direct Loan.

  • You may complete Direct Loan Entrance Counseling electronically via the website
  • To complete Direct Loan Entrance Counseling electronically, you must have a Federal Student Aid PIN. This is the same PIN used to complete the FAFSA.
  • After you complete entrance counseling, we can access the information electronically.

Direct PLUS Loan Request and Credit Check Completion (Graduate/Professional Student OR Parents)

To qualify for a Direct PLUS Loan, you must not have an adverse credit history, as defined in the Department's regulations.  If you have an adverse credit history, you may still be eligible for the loan:

1) By obtaining an endorser who does not have an adverse credit history and agrees to repay the loan if you do not, or

2) By documenting extenuating circumstances that meet the Department's requirements.

The Department conducts a credit check once you provide your consent.  The Federal Direct PLUS Request for Supplemental Information (Direct PLUS Request) provides us with your authorization to conduct the credit check and other necessary information, in one streamlined, up‑front process.

  • You may complete a Direct PLUS Request electronically via the website
  • To complete a Direct PLUS Request electronically, you must have a Federal Student Aid PIN. This is the same PIN used to complete the FAFSA.
  • After you complete your Direct PLUS Request, the Department will conduct the credit check and notify you and us of the results.

Note: If your credit check results in an adverse credit history determination, you will receive information from the Department about the endorser and extenuating circumstance options.  If you are a parent and neither of these is a viable option, your dependent student may be eligible to receive additional Direct Unsubsidized Loan funds.

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.  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)

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 or call 800/557-7392 (TDD/TTY: 800/557-7395).