Funding for U.S. students

Complete the  Free Application for Federal Student Aid (FAFSA) on the FAFSA website. McMaster’s Federal School Code is G06853. The information collected through this application is used by the U.S. Department of Education to calculate the Expected Family Contribution (EFC).

Within 48 hours of completion, you will be emailed a link to your Student Aid Report (a FAFSA that has been processed by the U.S. Department of Education). If any corrections or updates must be made to the report, you can do so at fafsa.ed.gov.

Complete the following U.S. Direct Loan documents/processes at studentaid.gov:

1. Master Promissory Note (MPN) – required each academic year.
2. First-time borrowers must complete entrance counselling
3. Direct PLUS loan application (if applicable) for parents to authorize a credit check. Sign the electronic Master Promissory Note (MPN) form.
4. Annual Student Loan Acknowledgement (ASLA) (optional for the 2021-2022 academic year).

Complete McMaster’s U.S Loan Request Form if you have accepted your offer of admission or are a current student. Upload this form along with all required supporting documents to this secure MacDrive link.

After your application has been processed, you will receive a cost of attendance and award email. Your Statement of Borrower Loan Confirmation must be received by Student Services by August 1, 2022 to ensure your funding is disbursed by the first week of classes (Fall 2022).

A new application must be submitted for every academic year.

Fall and Winter 2022/23 deadline (September – April): August 1, 2022.

Summer 2023 deadline (May – August): April 1, 2023.

Please note: FAFSA forms must be submitted by 11:59 p.m. (CT) on June 30, 2022. Any corrections or updates must be submitted by 11:59 p.m. CT, on September 12, 2022.

Applications received after the recommended deadline are processed on a rolling basis. There is no guarantee that funds will be disbursed by McMaster’s fee payment deadlines. By U.S. Department of Education regulations, a U.S. loan (subsidized, unsubsidized, Parent/Grad PLUS) cannot be originated after a student’s study period end date.

Students must complete exit counselling and begin the 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).

Your loan servicer will provide information about the repayment process and the date your loan repayment begins. It is very important that you make your full loan payment on time either each month or according to your repayment schedule.

To keep track of your student loans or to contact your loan servicer regarding repayment, log into the National Student Loan Data System (NSLDS) or call the Federal Student Aid Information Center at 1-800-433-3243. Use the PIN from your FAFSA electronic signature to gain access to NSLDS.

You can also repay your loans while you’re in school. Contact your loan servicer through NSLDS for more on this option.

As required by US regulations, every 60 days, McMaster University automatically reports the enrolment status of students who appear on the NSLDS roster. This will continue until your enrolment changes to less than half time or you withdraw from McMaster University.

If you McMaster has never processed a deferment on your behalf, you must make an initial request for a deferment.

Steps: 

1. https://registrar.mcmaster.ca/wp-content/uploads/2022/06/U.S-In-School-Deferment-Form-2223.pdf”>McMaster’s U.S. In-School Deferment Form.
   • If you have private/other loans, please complete the ‘Borrower’ section of the form.
   • If your private/other lender requires a different form, complete your section and forward to our office for completion.
2. Submit both documents to this secure MacDrive link
3. It is recommended that you follow up with your Student Loan Servicers (Lenders) every term to confirm they have your up-to-date enrolment status.  You can also check the status of previous  U.S. student loans on the NSLDS website.
4. Review your Annual Student Loan Acknowledgment on a yearly basis.

Once our office receives both forms, we will confirm enrolment with the NSLDS, Perkins Loans and/or private student loan providers. You can verify the status on the NSLDS, with Perkins Loans and/or your private lenders within 5-10 business days of your submission.

U.S. students who have access to a Section 529 Savings Plan may be eligible to use those resources while studying at McMaster. Consult your Section 529 plan provider to initiate the distribution process for the funds. Use the following institutional details to process the payment:

Mailing Address:

Student Services, Gilmour Hall 108
McMaster University
1280 Main St. W.
Hamilton, ON L8S 4L8
Canada

Phone Number: 905.525.9140 x 24796

McMaster’s Federal School Code: G06853

McMaster University is approved to process program reviews and certify registered McMaster students to receive Post-9/11 GI Bill Benefits. GI Bill benefits help qualifying Veterans and their family members fund all or some of the costs related to post-secondary schooling. Benefits will only cover courses required for a degree program. Students must request certification for each academic year that they want to receive Veterans Affairs (VA) benefits.

Before you apply

1. Apply for a Certificate of Eligibility through the Veterans Affairs website.
2. Use the Institution Search tool to confirm whether your intended program of study approved for VA benefits. If you are interested in a program that is not on this list, please contact Student Services to initiate a program proposal request. The request must be sent from Student Services on your behalf. We will notify you of the VA’s decision within two to three weeks.

Please note: Distance education and audit courses are not eligible for VA benefits

How to apply  

1. Upload your completed Certificate of Eligibility (issued by the VA) and VA Benefits Funding Application to this secure MacDrive link.
2. First-time applicants:  A Student Loans & Award Officer will schedule a voice call with you over Microsoft Teams to confirm your personal information, including your Social Security Number (SSN) and/or the SSN of the person transferring their benefits to you. This information will remain confidential. To protect your privacy, please do not email your SSN. Download the free Microsoft 365 suite here.
3. Our office will confirm your information with the Department of Veterans Affairs. We will contact you if any further information is required.

You will be notified about your application status within 2-3 weeks of submission.

Deadlines

Submit your Certificate of Eligibility (issued by the VA) and VA Benefits Funding Application by the mid-July before the start of the new school year to  receive the fall instalment of your benefits within the first three weeks of September. Requests submitted after this deadline will still be processed in date order to when the request is received.

Disbursement

If your application is successful, the VA will send:

• a payment to your McMaster Student Account that will be applied tuition and fees each term
• a payment to your personal account for books and living expenses.

Be sure to monitor your McMaster Student Account. You will be responsible for any outstanding balance not covered by your VA education benefit.

Reporting changes

In compliance with your VA regulations, you must notify Student Services of any change in status with the university, which may include:

• Adding or dropping a class
• An address change
• Withdrawing from the university
• Repeating  a course

Please consult with our office before making such decisions as it could impact your eligibility and benefit amount.

If you require additional aid, you can also consider private alternative (non-government) loans. Private loans are generally credit-based and offered by banks and credit unions. We strongly encourage you to explore your federal aid options, scholarships and grants, before pursuing private loans.

Sallie Mae

The Sallie Mae Smart Option Student Loan is available to U.S. students studying at least half-time (50% course load) in an eligible program. 

You can borrow funds up to your full cost of attendance, minus any available resources and previous funding (i.e. loans, scholarships, etc.). 

How to Apply

1. Complete an application through the Sallie Mae website.
2. Approved students will receive a Notification of Funding Eligibility letter outlining loan amounts and disbursements via email. 

Applications take 15-20 business days to assess. We encourage you to begin the loan process as early as possible to ensure loan funds are disbursed in time for McMaster fee deadlines. 

Disbursement

The funds will be sent to McMaster University via electronic funds transfer at the start of each term — September, January and May, if applicable.

Loans will be disbursed in Canadian dollars to the your student account and will first pay any outstanding tuition fees. Any remaining amount after outstanding fees have been paid will be refunded to you via Interac e-transfer.

As a Canadian institution, McMaster does not issue U.S. tax documents (ex: Form 1098-T). However, McMaster will issue you a Tuition and Enrolment Certificate (T2022A) and a T4A for aid & awards through the Mosaic Student Centre. You can use this form or provide it to your accountant to file your taxes in the U.S.