Alternative loans

Alternative loans have different interest rates, fees and repayment options than U.S. government loans. A co-signer may also be required. Some lenders offer borrower benefits that reduce your loan balance or lower your interest rates. If you are not registered in a degree program, you may still apply for alternative loans. Please keep in mind that it is your decision which loan product you choose. Concordia’s Financial Aid and Awards Office (FAAO) will certify any alternative loan that you choose, provided the organization accepts that you are attending an institution outside of the U.S.

You may borrow up to your Cost of Attendance (COA) minus any other financial aid that you receive for the aid year. 

1. Read the Private Education Loan Disclosures (PDF) including the Private Education Self-Certification form. 
2. Apply for a loan online via the provider's website (e.g.: salliemae.com or vsac.org).
3. Email fundingyoureducation@concordia.ca to advise us that you have applied for alternative loan funding.
4. Complete the U.S. Alternative Loan Application (PDF) and upload it as a single pdf file to your Student Centre. Click here for guidance on how to upload your documents securely to your Student Centre.
5. Email fundingyoureducation@concordia.ca to notify us that your loan application has been uploaded.  If you have already been assigned a Financial Aid Advisor from our office, please contact them directly.

• Review your file and send you an email to let you know if you are missing information or documents.
• Calculate your Cost of Attendance (COA) for the semester(s) in which you are fully enrolled.
• Determine the maximum loan amount that you are eligible to borrow.
• Email you this information in a Notification of Financial Aid Offer.
• All borrowers must reply directly to their Notification of Financial Aid Offer email to confirm how much they wish to borrow.
• Let the FAAO know if you need proof of funding letter for your Study Visa and Certificate of Acceptance to Quebec (CAQ). Your loan must be fully processed by our office before we can issue one to you.

Once the FAAO has certified your loan, the funds are disbursed to your Concordia student account on a per semester basis after the University’s posted add/drop date. For example, if you are enrolled in the Fall and Winter semesters, you will receive two disbursements: one per semester.

You will receive an email from the FAAO confirming that your funds have arrived at Concordia University.

Once your tuition and fees have been deducted from your loan and if there is a credit remaining on your student account, you may request a refund cheque. The cheque will be issued in Canadian funds.

The FAAO will notify you when and where it will be available to be picked up.

Please note that the U.S. exchange rate used is the one in effect the day the loan is posted to your student account.

As a U.S. Loan recipient, you will be assigned a Financial Aid Advisor to help you find ways to plan your finances and navigate the funding opportunities available to help you pay for your education.

If you are unsure who to contact at our office, please email us at fundingyoureducation@concordia.ca

Location
SGW Campus Financial Aid and Awards Office 1550 De Maisonneuve Blvd. W. GM 230.00 (see map)

Mailing Address
Financial Aid and Awards Office 1455 De Maisonneuve Blvd. W. Room GM-230 Montreal, QC H3G 1M8

Hours of service
Operating Hours: Monday to Friday 9 a.m. - 5 p.m.
Walk-in Hours: Monday to Friday 10 a.m. - 4 p.m.

Contact
Tel: 514-848-2424, ext. 3507
Email: fundingyoureducation@concordia.ca