6 Student Financial Assistance

Need-based student financial aid programs are offered by the federal/provincial governments. Applications should be directed directly to the province (or territory) of residence. Application forms are available from the governmental authorities as well as the Student Aid Office. In formation on governmental student aid and links can be found on McGill's Financial Aid Website at www.mcgill.ca/studentaid.

McGill University participates in the Federal Family Education Loan Program (FFELP). American students in need of financial assistance may apply for Stafford loans.

All students applying for loans must file a Free Application for Federal Student Aid (FAFSA) to determine financial need. This can be done on-line at www.fafsa.ed.gov. Our school code is G06677. Applicants will need to obtain the necessary PIN number to validate their signature before electronically sending the application to be processed. Follow the steps on the FAFSA Website to obtain the PIN.

The report generated from the FAFSA is called a Student Aid Report (SAR). The SAR is not sent to our school as indicated on the FAFSA website. However, if you have designated McGIll University as a school you may attend, we will be able to retrieve your SAR.

Graduate students and students in professional programs may borrow up to the cost of attendance, to a maximum of $18,500 US. $8500 of this amount may be a subsidized loan.

Information from the SAR and any financial aid received from your department and other sources is used to determine how much of the loan will be subsidized (interest free during full time studies) or unsubsidized (interest is charged during full time
studies).

Students who qualify for the subsidized loan will begin repayment of the principal and interest six months after they cease to be enrolled at least half time. Students receiving unsubsidized loan funds may pay the interest charges while they are in school, with principal deferred, until they cease to be enrolled at least half time; or they can choose to have both the interest and principal deferred until after they cease to be enrolled at least half time.

You must report any financial aid you are receiving (including funding from your department) when you apply for Stafford loans. This information should be submitted in writing to our office.

Each year, in addition to filing a FAFSA, a student must sign a Stafford Master Promissory Note (Stafford MPN). The MPN documents a student's choice of guarantor and lender as well as the obligation to repay the loan.

Please note that at the time of printing, the application process for submission of the Stafford and PLUS MPNs is being revised. New information regarding the use of e-signatures for these documents will be updated on our Website at www.mcgill.ca/studentaid in early spring. E-sign will be available for students who use our preferred guarantor, American Student Assistance (ASA), and Northwest Education Loan Association (NELA).

Students who are residents of Vermont should apply using Vermont Student Assistance Corporation (VSAC) as a guarantor. Students may order an application package at www.vsac.org. Mail the original MPN to VSAC and the school copy of the MPN to our office. It is not yet possible to apply using e-signatures. If you require further information, you may contact Marcia Vance at:

For students who may need additional sources of funding, there are private alternative loan options.

McGill University works closely with International Education Finance Corporation (IEFC). Visit their website at www.iefc.com to learn more about their products. Their phone number is 888-296-4332.

SallieMae also offers alternative loans. Their website is www.salliemae.com. Their phone number is (800) 695-3317.

All applications must be complete and be received by June 1, 2005 to have funds disbursed for the fall semester fee payment deadline.

All applications must be complete and be received by November 1, 2005 to have funds disbursed for the winter semester fee payment deadline.

Stafford and alternative loans are disbursed in one payment co-payable to the student and the school. Cheques are sent to the Student Aid Office. The cheques must be picked up by the student and taken to the Student Accounts Office for processing.

All first time borrowers of Stafford loans are required to complete a session of entrance counseling prior to receiving loan funds. Entrance counseling may be completed on the web at www.mapping-your-futre.org. Our office will be notified when the entrance counseling has been completed.

The Student Aid Office also administers the University's need-based financial aid program, which includes short term loans to cover emergency situations, limited bursary assistance, and a Work Study program. All applicants for aid must first apply for the maximum government assistance for which they may be eligible. Applications should be directed to:

Student Aid Office, Brown Student Services Building,
3600 McTavish Street, Montreal, Quebec H3A 1Y2
Telephone: (514) 398-6013/6014
E-mail: student.aid@mcgill.ca
Website: www.mcgill.ca/studentaid

The Student Aid Office administers the University's need-based financial aid programs which includes short-term loans, limited bursary assistance and a Work-Study program. All applicants for aid must first apply for the maximum government assistance for which they may be eligible. The Office is located in the Brown Student Services Building, 3600 McTavish, suite 3200, Telephone (514) 398-6013/14. A limited number of small bursaries are awarded on the basis of financial need and academic standing. Funding for the bursaries comes from several different sources at McGill including an annual transfer of funds to the Student Aid Office from the Graduate and Postdoctoral Studies Office.

Awarded on the basis of financial need by the Student Aid Office to students entering or enrolled in graduate studies at McGill with a preference to students in programs in the Graduate School of Library and Information Studies.

Established in 1988 through a donation from the North Slope Borough of Alaska in honour of the late Eben Hopson, Mayor of the North Slope Borough from 1972 to 1980, to advance the pursuit, promotion and sharing of knowledge in those areas which are of common interest and relevance to the scientific, social and economic development, and the greater welfare of the North Slope Borough and the countries of the Circumpolar North.

For the support of students from the North Slope Borough of Alaska for graduate or undergraduate studies at McGill in any field deemed in the welfare of the North Slope Borough.

Application: Applications should be submitted to the GPSO and awards will be made by the Eben Hopson Fellowship committee and the North Slope Mayor or designee.

$6,000. Awards are renewable for a second year of Masters study to a fourth year of Doctoral studies and Bachelor's study.

Established in 2002 by Georges Masson, Ph.D. 1942, Paul Masson, B.A. 1968, and Robert Masson, B.Sc. 2002, to commemorate the three generations of Massons at McGill.

Awarded to one or more students in any department in the Faculty of Science. Preference shall be given to students in the departments of Biology and Mathematics. Awarded by the Student Aid Office on the basis of financial need.

Established in 1989 by the GPSO to assist full-time students in any graduate degree program. Awarded by the Student Aid Office to students requiring financial assistance to pursue studies or research at McGill.

Established by Mrs. J.B. Owen in memory of her father, the late Irving Orrin Vincent, B.A. 1907, M.A. 1908, a noted teacher and Principal of Edward VII School in Montreal from 1912 until his death in 1920.

Awarded annually by the Student Aid Office on the basis of academic merit and financial need to a graduating student in the Faculty of Arts proceeding towards an M.A., M.Ed., or Doctorate in Classics or Education.

Established by the children of Mr. and Mrs. J. Salomon in their memory. Awarded to a deserving student in need who has completed the final undergraduate year in the Faculty of Arts or Science, and is entering a graduate program. Tenable for one year.

Established in 1998 by Van Berkom and Associates Inc., an investment management firm specializing in small capitalization stocks. Awarded by the Student Aid Office to full-time students entering their second year of the MBA program, on the basis of high academic standing and financial need. Preference will be given to students pursuing a concentration in finance who wish to pursue a career in investment management.