How to Apply for
Financial Aid
Applying for student loans can be a daunting experience, but it does not need to be. Our Financial Aid Director, Heidi Nelson, is ready and willing to answer any questions you have and walk you through your options to ensure you have access to all available funding. To set up a time to speak with someone in person or by phone, click the link below.
How to Apply for Financial Aid
Canadian Students
All Canadian students are eligible to apply for financial assistance through the Canada Student Loan Program. The actual amount of assistance received through this program will vary depending on individual family circumstances and the province of residence.
When to Apply
Students must submit their applications for a Canada Student Loan by June 15th, as it may take up to 8-10 weeks for the university to receive the funds.
Where to Apply
Students are required to apply for their Canada Student Loan from the province where they have resided for the last twelve consecutive months.
How to Apply
Visit your provincial student loan website. Read the application and instructions carefully to make certain that you provide all the required information. Students should also follow up with their student loan office before Registration Day, to ensure their funds will come through. Loan monies are disbursed in September and January.
Provincial Student Loan Websites:
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland
- Nova Scotia
- Ontario
- Prince Edward Island
- Quebec
- Saskatchewan
National Student Loan Services:
Canada Student Loans Program: https://www.canada.ca/en/employment-social-development/services/student-financial-aid.html
1-888-815-4514 (within North America)
1-416-503-6671 (outside North America, call collect)
1-800-855-0511 (TTY for the deaf)
1-888-815-4657 (fax)
Student Financial Aid Contact Info:
Heidi Nelson – Director of Financial Aid
Phone: 506.432.4423 or 888.432.4444
nelsonh@kingswood.edu
American Students
American citizens and permanent residents studying full-time can apply for subsidized and unsubsidized Direct Loans, Parent Plus Loans, and/or Private Loans. A student may be eligible to borrow the maximum annual loan limit amount for each year of study.
These limits are effective for periods of enrolment during the Federal Student Aid fiscal year beginning on or after July 1st until June 30th. Students are expected to have their paperwork completed and submitted to Kingswood’s Financial Aid Office by July 15th.
Annual loan limits for dependent undergraduates:
| Grade Level | Base Amount | Unsubsidized Loan | TOTAL | Additional Unsubsidized Loan if PLUS Denied |
Total if PLUS Denied |
|---|---|---|---|---|---|
| Freshman | $3,500 | $2,000 | $5,500 | $4,000 | $9,500 |
| Sophomore | $4,500 | $2,000 | $6,500 | $4,000 | $10,500 |
| Junior and Higher | $5,500 | $2,000 | $7,500 | $5,000 | $12,500 |
How to Apply for US Federal Aid from your FAFSA:
- Create an FSA user ID. Go to https://studentloans.gov and
- Complete FAFSA application online. https://studentaid.gov/h/apply-for-aid/fafsa
- Sign Loan Agreement / Master Promissory Note –
- Go to https://studentaid.gov/ and complete steps to electronically sign a “Master Promissory Note”.
- Email Request letter to KU –
- Complete Entrance Counselling.
- Go to https://www.studentloans.gov.
- Choose Entrance Counseling: Direct Loan.
- (Only for students applying for the first time at KU)
- Complete Exit Counselling.
- If you are in your last year at Kingswood go to https://www.studentloans.gov and follow steps to complete Exit Counselling.
How to Apply for the Parent Plus Loan:
- Create your own FSAID – go to https://www.studentloans.gov
- Sign Loan Agreement / Master Promissory Note
Note: If the parent has received an adverse credit decision the student can receive an additional unsubsidized loan (Contact the Director of Financial Aid at 1.506.432.4423).
Parents may still be eligible to receive a Direct PLUS Loan. To become eligible, you may take one of the following actions:
- Obtain an endorser and complete PLUS Counseling at https://www.studentloans.gov.
- Request a review to determine extenuating circumstances at https://www.studentloans.gov.
How to Apply for Private Loans/Sallie Mae:
Private Loans are available to students (a co-signer is encouraged.) If interested, connect with Sallie Mae here: Sallie Mae Smart Option Student Loan.
Note: Banks will not lend money for foreign studies. Sallie Mae is the only private lender available outside of the US. This loan is in the student’s name.
Disbursement of Loans:
Loan monies come in two disbursements in late August and early January.
Student Financial Aid Contact Info:
Heidi Nelson – Director of Financial Aid
Phone: 506.432.4423 or 888.432.4444
nelsonh@kingswood.edu
US Satisfactory Academic Progress (SAP) Policy
Satisfactory Academic Progress
All students applying for or receiving US Federal Aid (subsidized/unsubsidized Direct Loans and Parent Plus Loans) at Kingswood University must make satisfactory academic progress towards completion of their chosen academic program.
Kingswood University is required by US Federal Law to define and enforce standards of Satisfactory Academic Progress (SAP). These guidelines have been established to encourage students to successfully complete their academic programs for which aid is received.
A student is considered to be making satisfactory academic progress based on the following criteria:
Successfully complete 75% of attempted credit hours each semester.
Meet minimum grade point average requirements each semester.
Complete their program of study within the maximum allowable time frame.
Do not repeat any course more than twice.
Minimum Requirements For Degree Students:
|
Semester
|
% of Attempted Credit Hours Successfully Completed
|
Semester GPA
|
| First Semester | 75% | 1.5 |
| Second Semester | 75% | 1.7 |
| Third Semester | 75% | 1.9 |
| Fourth and subsequent semesters | 75% | 2.0 |
Maximum Allowable Time Frame For Full-Time Students:
A student is entitled to receive aid for 150% of the length of their academic program.
2 year degree = 3 years of eligibility
4 year degree = 6 years of eligibility
Evaluation and Notification:
Satisfactory Academic Progress (SAP) will be assessed for each student by the Director of Financial Aid at the end of each academic semester to determine their eligibility for continued Financial Aid. Students will be notified in writing or by email within five business days of their semester grades being released if they are placed on Financial Aid Probation or if their Financial Aid eligibility has been suspended.
Financial Aid Probation and Suspension:
Students who fail to achieve the required minimum standards of academic progress will be placed on Financial Aid Probation for one semester. If, during that semester, students meet the required minimum standards of academic progress and meet with the Director of Financial Aid, they will be removed from probation and be eligible for US Federal Aid.
Students on probation who do not meet the required minimum standards during that semester will be place on Financial Aid Suspension. They will be ineligible for any further US Federal Aid until such time as they achieve the required minimum standards of academic progress. When suspended students achieve the required minimum standards they must notify the Director of Financial Aid and they will be eligible again for US Federal Aid.
Students who have exceeded their Timeframe Eligibility will be ineligible for any further US Federal Aid. Students who repeat a course more than two times will be ineligible to receive any further US Federal Aid for that course.
Financial Aid Appeals:
In certain circumstances, students whose US Federal Aid eligibility has been suspended may appeal the suspension if at least one of the following criteria is met:
- Death of an immediate family member (parent, caregiver, spouse, sibling, dependant child etc.).
- The extended illness of the student – documented chronic or recurring medical or emotional illness that causes the student to be absent from class at least fifteen days or more.
- Family difficulties, such as divorce or illness.
Mitigating circumstances as determined by the Director of Financial Aid.
Appeal Process:
- Submit a written appeal letter to the Director of Financial Aid within five business days of the receipt of the notification of suspension. This letter must outline the reasons for the failure to meet SAP requirements and include all documentation supporting the appeal.
- The appeal will be reviewed by the Director of Financial Aid, Vice President for Academic Affairs, and Vice President for Enrolment & Communication, who together will decide to uphold or reverse the suspension.
- A written response to the appeal will be provided to the student within ten business days.
Student Finances Contact Info:
Heidi Nelson – Director of Financial Aid
Phone: 506.432.4423 or 888.432.4444
nelsonh@kingswood.edu
US Title IV Refund Policy
If a student withdraws or is expelled during the semester (payment period), US law specifies that Kingswood University must recalculate their Title IV (Stafford Loan) funding to determine what amount they have “earned.”
Calculation of Title IV Funding Earned
To earn 100% of Title IV funding a student must complete 60% or more of the semester. If a student has not completed 60% of the semester, the amount earned will be determined by the number of calendar days completed divided by the number of days in the semester. Therefore, a student who has completed 25 days of the 103 day semester will be eligible for 24.27% (25 divided by 103 equals 24.27%) of their previous Title IV eligibility.
If the student received (or the University received on the student’s behalf) less assistance than the amount that was earned, the student may be eligible to receive those additional funds. If the student received more assistance than was earned, the excess funds must be returned by the University and/or the student.
Returning Excess Title IV Funding
Kingswood University is required to return a portion of the excess funds equal to the lesser of the University’s charges multiplied by the unearned percentage of the fund or the entire amount of excess funds.
If the University is not required to return all of the excess funds, the student must return the remaining amount.
Title IV funds will be returned to the lender in the following order:
- Unsubsidized Direct Loans
- Subsidized Direct Loans
Kingswood will return all excess funds to the lender within 30 days of the last date of attendance.
Withdrawal Date
When a student withdraws during a semester, the withdrawal date for Title IV refund purposes will be established as the earlier of the following dates:
- The date the student notifies the Registrar of their intent to withdraw.
- The date the student submits a withdrawal form.
If a student does not submit a withdrawal form or notify the Registrar of their intent to withdraw, their withdrawal date will be established as the last date of their class attendance.
If a student receives all failing grades for a semester and it is determined that this is a result of lack of class attendance, their last date of attendance will be established and used to calculate the amount of Title IV funding earned for the semester.
Student Finances Contact Info:
Heidi Nelson – Director of Financial Aid
Phone: 506.432.4423 or 888.432.4444
nelsonh@kingswood.edu