Funding Your Exchange
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Funding Your Exchange Enrolment Services. Your Enrolment Services Professional is here to help you! . Financial planning Student loans for exchange students Maintaining interest free status UBC Bursaries. Topics for this workshop:.

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Funding Your Exchange

Enrolment Services

Your Enrolment Services Professional is here to help you!

Financial planning

Student loans for exchange students

Maintaining interest free status

UBC Bursaries

Topics for this workshop:

Student Loans - eligibility education

Canadian citizen or landed immigrant/permanent resident

Full-time studies (60% of a course load)

Financial need

Student Loans - eligibility education

Costs Included:

Educational Expenses (tuition, fees, books & supplies)

Living Expenses (shelter, food & transportation)

Costs not Included:

Cost of living at exchange country

Exchange rate


Student Loans - application education

Apply to the province you are a resident of

for BC apply to

Institution = UBC (not partner university)

Student Loans – application education

Must use partner university’s dates!

Contact your ESP in June to verify the study dates you should use.

If you do not have an ESP, please call Enrolment Services at 604-822-9836

WARNING: if you do not use the right dates UBC cannot confirm your loan!

Student Loans - application education

For provinces that require a Program Info Form (PIF) indicate that you are an exchange student when you request a PIF be completed

Student Loans – application education

Study period must be at least 12 consecutive weeks with no breaks longer than 2 weeks

Exception: BC allows 3 weeks at the end of December

If breaks are longer, you must submit 2 loan applications

Most summer exchanges are not long enough to qualify for student loans

If you are unsure if you should apply for a 1 term or full year loan, please contact your ESP.

Student Loans - Ontario education

OSAP students with a break longer than 2 weeks can submit one loan application for the 1st term & request PIF ‘extension’ for the 2nd term

Update your income by faxing a letter to OSAP (otherwise the income will carry forward)

Student Loans - application education

Study dates can affect your eligibility for programs associated with student loans through your province (ie. Millenium Bursary)

Split Year student

Two term loans

Student Loans - cashing education

How will you cash your loan if you are in another country?

Student Loans - cashing education

Negotiable only in Canada

Mailed to a Canadian address

Negotiable at designated Canada Post Outlets

Student Loans - cashing education

Power of Attorney (POA)

This is a document that allows someone you trust to sign documents on your behalf

Student Loans - cashing education

Province specific POA information:

Alberta students – call the Student Funding Contact Ctr

Ontario students – download Canada & Ontario form from OSAP website

Other provinces (besides BC) – contact your province to see if there is a specific form you can complete. Otherwise, can have a notarized POA letter completed.

Student Loans - cashing education

BC students:

Have you already signed a BC Master Loan Agreement? If so, your BC funds will be deposited into your bank account.

If you have not signed a BC Master Loan Agreement, you must have a notarized POA completed as BC does not have a student loan POA form (can call the Law Students Legal Advice Program at 604-822-5791)

Student Loans - cashing education

Your POA will sign your loan for you at the Post Office. They will need:

Your student loan document

Copy of your picture ID with signature

Copy of your SIN card

Your void cheque (for each loan document)

Their own ID and POA letter (for each loan document)

Student Loans - cashing education

Alternatively, have a friend send the loan to you. You will:

Sign the loan

Attach a copy of your picture ID, SIN & void cheque

Mail the loan directly to the lender

WARNING: loan documents expire within 30 days

Student Loans – Interest Free Status education

Loans are interest free while you are a full-time student

If you are not receiving student loans, you must have Interest Free Forms completed to let the lender know you are a student.

Student Loans - Interest Free Status education

Options for exchange students:

BC students can apply on-line

Have forms completed before you leave if this is within 26 days of your start date (excl OSAP)

POA sign the forms

3rd person pick up the form from UBC & mail/fax it to you (third party pick up form)

UBC Bursaries education

Bursaries are non-repayable awards that are based on financial need. To qualify, you must:

Be in receipt of government student loans & have unmet need on your student loan assessment

Apply on-line by the deadline:

Summer: June 1

Winter: September 15

Before you go on exchange! education

Designate a Power of Attorney

Set up Third Party Authorization on SSC

Complete a Third Party Pick-Up Form

Submit a Cheque Forwarding Request Form to Enrolment Services

Contact Us education

If you are assigned an ESP, please contact them directly with any questions. (Under “UBC Contacts” in the “Personal Info” menu in your Student Service Centre (SSC).

If you do not have an ESP, please call Enrolment Services:

(604) 822-9836