U.S. Federal Student Aid

American students are eligible to apply for U.S. Stafford Loans and Parent PLUS loans (for parents of undergraduate students), as part of the Federal Direct Student Loan Program (also known as Direct Loans). Tyndale is a recognized institution with the United States Department of Education. Visit FAFSA.ed.gov for an application and conditions.

Federal Stafford Loan

Stafford Loans are available for students to help cover the costs of education. They are offered as subsidized and unsubsidized loans. Direct Subsidized Loans are only available for eligible undergraduate students and are based on financial need. Direct Unsubsidized Loans are available for undergraduate and graduate students who do not qualify for subsidized loans.

Am I Eligible?

University college and seminary students who are enrolled in at least three courses per semester are eligible.

How to Apply for Stafford Loans?

Visit the Federal Student Aid (FSA) website for information about Stafford Loans. We use the lender IEFC for all Stafford Loans. If you have any questions regarding the application process, please contact refer to their website studentloans.gov or contact the student inquires line at 1-800-4-FED-AID (800 433-3243).

  1. Complete a Free Application for Federal Student Aid (FAFSA) at FAFSA.ed.gov. For this application, you will need to enter Tyndale’s school code: G22164. You must apply every year.
  2. You will need to submit a copy of the Student Aid Report (SAR) to the Student Financial Resource Office at Tyndale.
  3. Contact the Tyndale Student Financial Resource Office to inform them that you will be applying for a Stafford Loan at financialaid@tyndale.ca.
  4. Complete the loan Entrance Counselling session online at studentloans.gov. You must confirm that this is done by completing the Tyndale Direct Loan Confirmation Form (please submit this to the Student Financial Resources Office).
  5. Complete the Direct Loan Master Promissory Note (MPN). You may obtain a MPN at studentloans.gov. Submit a copy to the Student Financial Resources Office.
  6. Tyndale will assess and certify your loan application once you have been accepted to Tyndale and we have received all above items.
  7. The lender or loan guarantor will notify you directly regarding your loan amounts. This process, from the time you file your FAFSA until you receive the loan, takes about 8 weeks, so apply early if funds are needed by September.

How Much Will I Receive?

University College Students:
1st year UC students: $3500 Subsidized funds ($1750 per semester)
2nd year UC students: $4500 Subsidized funds ($2250 per semester)
3rd year UC students and beyond: $5500 Subsidized funds ($2750 per semester)

Dependent students may borrow an additional $2000 Unsubsidized funds per year if eligible.
Independent students may borrow an additional $6000 Unsubsidized funds per year if eligible.

Seminary Students:
Seminary students may borrow up to $20,500 Unsubsidized funds per year if eligible.
When do I repay the loan?
Repayment begins six months after the student graduates, leaves school or drops below a half-time course load.
 

Federal Parent Loan (PLUS)

A Parent PLUS loan is a student loan offered to parents of dependent undergraduate students to help pay for education expenses not covered by other financial aid.

Am I Eligible?

Parents of dependent undergraduate students enrolled in at least three classes per semester in a degree program may apply. This loan is not based on financial need.

How Much Will I Receive?

You will receive up to the cost of attendance, minus any other financial assistance (including Stafford loans).

How Do I Apply?

  1. Your dependent child must first complete the FAFSA for Stafford Loans.
  2. Parent can complete a PLUS loan application at studentloans.gov.
  3. Contact the Tyndale Student Financial Resource Office to inform them that you will be applying for a PLUS Loan at financialaid@tyndale.ca.
  4. Complete the PLUS loan Credit Counselling session online at studentloans.gov.
  5. Complete Loan Agreement for a PLUS Loan (MPN). You may obtain a MPN at studentloans.gov. Submit a copy to the Student Financial Resources Office.
  6. Tyndale will assess and certify your loan application once your child has been accepted to Tyndale and we have received all above items.
  7. The lender or loan guarantor will notify you directly regarding your loan amounts. This process, from the time you file your FAFSA until you receive the loan, takes about 8 weeks, so apply early if funds are needed by September.

Other Info:

PLUS, in combination with other financial aid, cannot exceed the total cost of education. Repayment of the loan begins 60 days after the loan is disbursed unless it is deferred.

Important Notice About Eligible Programs

The United States Department of Education excludes distance education, including practicums/internships, directed reading & research (DRR) courses, directed study (DS) courses, and online courses, from the Direct Loan Program. American students who are receiving Direct Loans are prohibited from taking practicums/internships, directed reading & research (DRR) courses, directed study (DS) courses, and online courses as either core or elective options.

Please note that there are no required online courses for university college or seminary programs.

Please note the following programs that require enrollment in an internship or practicum will be ineligible for the Direct Loan Program. These programs include:

  • Master of Theology (ThM)
  • Graduate Diploma
  • Doctor of Ministry (DMin) (all streams)
  • Bachelor of Arts (BA) – Biblical Studies and Theology – Pentecostal Focus
  • Bachelor of Arts (BA) – Business Administration – International Development
  • Bachelor of Arts (BA) – Business Administration Co-op
  • Bachelor of Arts (BA) – Human Services - Early Childhood Education Track
  • Bachelor of Arts (BA) – Human Services - Social Service Work Track
  • Bachelor of Arts (BA) – Health and Human Services
  • Bachelor of Arts (BA) – Psychology
  • Bachelor of Religious Education (BRE)
  • Bachelor of Education (B.Ed.)
  • Certificate in Christian Studies
  • Minors in Christian Ministries
  • Minor in Music and Worship Arts

Tyndale offers a variety of programs approved for Direct Loan funding. Please speak to an admissions counselor about your program options.

Student Records

In accordance with US federal regulations, the Student Financial Resources Office is required to maintain all Direct Loan borrowers’ records with the appropriate and necessary documentation to determine eligibility for Title IV funds. Direct Loan borrowers must submit the following documents:

In addition to the previous documents, the Student Financial Resources Office will also keep on record for each student the following:

  • Cost of Attendance
  • Enrollment Report
  • Student Academic Progress Report
  • Transcript
  • Documents used to verify applicant data and resolve conflicting information