FINANCING YOUR EDUCATION

How much will a Quest education cost? What are the financial resources available to make a Quest education possible? To help with these common questions, Quest’s Financial Aid Office provides information on student budgeting, government student loan programs, Quest awards including scholarships and need-based aid along with Quest Work Study and external funding resources that may be explored.

CANADIAN GOVERNMENT STUDENT LOAN PROGRAMS

Quest is an approved post-secondary institution to administer government student loans from all provinces in Canada plus the Northwest Territories, Nunavut and the Yukon. Government student loans assist students in paying for their post-secondary education and are based on assessed financial need as determined by each program and are subject to re-payment. In some cases, applicants may qualify for non-repayable funds called grants.

Submit your application early! Most importantly, submitting an application well in advance of the academic year will allow for the processing period that is an average of six weeks and in some cases, longer. This way, you should know your anticipated loan amounts in advance of the school fee payment deadline.

Maintaining Your Loan: Application is only the first step. Government student loan programs list policies and procedures that a borrower must follow while in studies. For example, an unexpected leave of absence from studies, the type of leave and duration may trigger a loan re-assessment. Government loan programs will not reach out to tell you this. As a borrower, it is strongly recommended that you review the program’s policies and procedures in advance of commencing your study period.

CANADIAN GOVERNMENT STUDENT LOAN PROGRAM WEBSITES

Residency Requirements: Your government student loan program to which you apply will depend on the residency requirements as set by each program. For example, if you have re-located to B.C. from another province you may have not resided long enough in B.C. to apply for StudentAid BC.

CONTACT US

The Financial Aid office is located within the Office of Admissions, main floor of the Library building. Open Monday to Friday, 9am to 5pm.

Email: financial.aid@questu.ca
Phone: 604.898.8070
Toll Free in North America: 1.888.QUEST.08 (1.888.783.7808)

US GOVERNMENT STUDENT LOAN PROGRAM – FEDERAL STUDENT AID

Quest is an approved post-secondary institution to participate in the Title IV program known as the William D. Ford Federal Direct Loan Program. This program offers Direct Subsidized and Direct Unsubsidized loans as well as Direct PLUS loans for parents of dependent students.

Important Notice: Perkins Loans, Pell Grants and other forms of US Federal Student Aid grant funding are not available to foreign schools, and therefore cannot be utilized by Quest students.

Our US Federal Title IV code is 04075300 (also known as OPE ID) and the Federal School Code for FAFSA (Free Application is G40753).

Residency Requirements: US citizens or permanent residents of the US and enrolled in full-time studies at Quest University leading to a bachelor degree may be eligible to apply.

Important Application Information:

For the 2017–2018 academic year, you can apply between Oct. 1, 2016 and June 30, 2018

For the 2018–2019 academic year, you can apply between Oct. 1, 2017 and June 30, 2019

For more information including FAFSA visit Federal Student Aid


Virtual Financial Aid Office (VFAO) Requirement: After submitting a FAFSA there is a mandatory additional step known as a Student Interview to take as part of your FAFSA application process where you have indicated Quest as your school of choice as Quest is considered a foreign school outside the U.S. Visit Quest Virtual Financial Aid Office.

Direct Subsidized Loans
visit Federal Student Aid for full details

Direct Subsidized Loans are provided to eligible undergraduate students who demonstrate financial need to help cover the costs of higher education at a college, university or career school. Interest rates are set based on when the disbursement occurred. The U.S. Department of Education pays the interest on a Direct Subsidized Loan while a student is in their eligible program at least half-time, for the first six months after leaving school (referred to as a grace period*), and during a period of deferment (a postponement of loan payments).

*Note: If you received a Direct Subsidized Loan that was first disbursed between July 1, 2012 and July 1, 2014, you will be responsible for paying any interest that accrues during your grace period. If you choose not to pay the interest that accrues during your grace period, the interest will be added to your principal balance.

Direct Unsubsidized Loans
visit Federal Student Aid for full details

Direct Unsubsidized Loans are available to undergraduate and there is no requirement to demonstrate financial need. Interest rates are set based on when the disbursement occurred. You are responsible for paying the interest on a Direct Unsubsidized Loan during all periods even while attending school. If you choose not to pay the interest while you are in school and during grace periods and deferment or forbearance periods, your interest will accrue (accumulate) and be capitalized (that is, your interest will be added to the principal amount of your loan). Depending on your FAFSA assessment, you may be eligible for a combination of Direct Subsidized and Direct Unsubsidized Loans.

Direct PLUS Loans
visit Federal Student Aid for full details

Direct PLUS Loans are federal loans that graduate or professional students and parents of dependent undergraduate students can use to help pay for college, university or career school. Direct PLUS loans can help pay for education expenses not covered by other financial aid. The U.S. Department of Education is the lender. The Direct PLUS applicant must not have an adverse credit history. The maximum loan amount of Direct PLUS if eligible is the cost of the student’s attendance (determined by the school) minus any other financial aid to be received. The Direct PLUS applicant does not have to complete a Student Interview but, will be required to sign a Direct PLUS Loan Master Promissory Note (MPN). Please note that there is a fee on all Direct PLUS Loans. The loan fee is a percentage of the loan amount and is proportionately deducted from each loan disbursement. The percentage varies depending on when the loan is first disbursed. Please check with the U.S. Department of Education for more details.

Important Notice: If the student has already filled out the Free Application for Federal Student Aid (FAFSA) then you can apply for a PLUS loan.

Withdrawal From Quest – Return of Funds

If you are receiving funding under FAFSA (may include Direct PLUS) it is strongly recommended that you consult with FAFSA and Quest Financial Aid Office to discuss your leave and loan implications and Quest Financial Aid Office is mandated to report on student leaves while on funding.

Funding under FAFSA is awarded based on the confirmed course load and length of study at loan origination for the application study period. Upon withdrawal from the University or a leave that makes the student ineligible for funding the amount of loan earned will be pro-rated accordingly. For example, if you attend only 30% of classes in that pay period (one term), 30% of the loan is considered earned. If you attend more than 60% of classes in that pay period, then the full loan is considered to be earned.

Please see Policy on Return of Title IVF funds (R2T4) [PDF, 272 KB]

Loan Repayment

Students who have received Direct Subsidized, Unsubsidized or PLUS loan(s) under the Direct Loan Program or the FFEL Program, must complete Exit Counseling each time they drop below half-time enrollment, graduate, or leave school. Exit counseling provides important information to prepare you to repay your Federal Student Loan(s). This Exit Counseling can be done on-line and takes approximately 20-30 minutes. Log in via Federal Student Aid.

Federal Student Aid publishes information on how to repay Federal Student Loan Funding. Visit Federal Student Aid How to Repay Your Loans. Information includes payment plan types, how to make a payment, Loan Servicers, deferment, loan consolidation, delinquency and default among other topics.

FEDERAL STUDENT AID LOAN LIMITS

*Current yearly maximums subject to change

Find Interest Rates at StudentAid.gov/interest

Find Dependency Status at StudentAid.gov/dependency

  Dependent
Undergraduate
Student
Independent
Undergraduate
Student
Year (except students whose parents are unable to obtain PLUS Loans) (+dependent students whose parents are unable to obtain PLUS Loans)
First Year $5,500 – No more than $3,500
of this amount may be in Direct Subsidized Loan.
$9,500 – No more than $3,500
of this amount may be in Direct Subsidized Loan.
Second Year $6,500 – No more than $4,500
of this amount may be in Direct Subsidized Loan.
$10,500 – No more than $4,500
of this amount may be in Direct Subsidized Loan.
Third Year
and Beyond
$7,500 – No more than $5,500
of this amount may be in Direct Subsidized Loan.
$12,500 – No more than $5,500
of this amount may be in Direct Subsidized Loan.
Loan Aggregate Limits $31,000 – No more than $23,000
of this amount may be in Direct Subsidized Loan.
 $57,500 – No more than $23,000
of this amount may be in Direct Subsidized Loan.

FEDERAL STUDENT AID STUDY LIMITATIONS

Even if a FAFSA application is pre-approved, at that time FAFSA is not aware of a student’s specific course enrolment. It is important to know that certain types of study arrangements and programs are not eligible under FAFSA also noting that Quest is considered a foreign school and subject to foreign school policy that differs from policy for participating schools based in the U.S.

Students will not be funded for an experiential learning component if it is held in the U.S. Students who select experiential learning opportunities in the U.S. need to factor in costs without funding under FAFSA. If the experiential learning component in the U.S. is for part or all term, the student would be exempt from funding under FAFSA for the whole term regardless. A student can re-apply for U.S. funding under FAFSA for other term(s) in the academic year when the experiential learning in the U.S. is complete.

Students may be eligible for funding under FAFSA for study abroad at one of the following Quest partnering institutions (Richmond University, UK, Universidad Autonoma de Guadalajara, Mexico or Amsterdam University College in the Netherlands) as these schools are currently participating in Title IV (William D. Ford Federal Direct Loan Program). Students will not be funded under FAFSA for a study abroad if it is at a non-partnering institution and/or partnering institution that does not participate in Title IV. Also, study abroad at Colorado College is ineligible due to its location in the U.S. If a study abroad component is for part or all term, the student would be exempt from funding under FAFSA for the whole term if the study abroad is ineligible. A student can re-apply for U.S. funding under FAFSA for other term(s) in the academic year when the study abroad is complete. This list of eligible institutions is subject to change and expand.

Students may be eligible for funding under FAFSA for language blocks within a post-secondary program that is deemed eligible by both Quest and Title IV (William D. Ford Federal Direct Loan Program). There is a number of immersion destinations for each language.

OTHER FUNDING RESOURCES

GI Bill

Quest is approved by Veterans Affairs allowing applicable students to access benefits designed to assist with paying for school. If you are planning to access funds through the GI Bill, please inform your Quest Admissions Counsellor well in advance so we can initiate the funding as processing times can be quite long.For more information on the GI Bill, please refer to www.gibill.va.gov.

Other Funding Resources

Below are a number of ideas and links to awards that may be available to students attending Quest. This is by no means an exhaustive list and Quest strongly recommends spending time researching these and other avenues for other funding sources;

-Banks and other companies often sponsor students or hold scholarship competitions.
-Ask your parents’ or guardians’ employers, or your employer, whether they have a scholarship program.
-Contact your local Rotary Club.
-Use a search engine like Google to search for scholarships related to your interests (e.g., in the past, Toyota has sponsored an Environmental Scholarship); your region (e.g., Toronto scholarships); or your background (e.g., South Asian scholarships).
-You should also check whether your school district or board offers any scholarships.

Aboriginal Funding Options
A starting point for research into available funding sources for Aboriginal post-secondary students

AcademicInvest.com

Archie Nunn Scholarship

CanLearn.ca


For loans and to search for schools and programs

Future Aces Foundation Scholarship

Leonard Foundation Scholarships

Minerva Foundation for BC Women
Minerva Foundation for BC Women offers scholarships for women, including Aboriginal women, single mothers, women with disabilities and women in non-traditional fields of study.

Ministry of Children and Family Development
Former Youth in Care funding and child-care subsidy for low-income families (and students).

Overwaitea Food Group – UFCW Local 1518 Joint Diversity Scholarship

RBC Royal Bank Financial Lifeskills Scholarships

ScholarshipsCanada.Com

Social Sciences and Humanities Research Council of Canada


Grants for graduate students, grants for Aboriginal research projects

Soroptimist Violet Richardson Award

StudentAwards.Com

TD Canada Trust Scholarships for Community Leadership

Terry Fox Humanitarian Award

The Duke of Edinburgh Award

The Miller Thomson Foundation National Scholarship

The Storwell Foster Children Bursary Program

Toyota Earth Day Scholarship Program

US Department of Labour Scholarship Search Tool
Includes US and some Canadian options.

OTHER COUNTRIES

Quest is a not-for-profit institution and does not receive funding from government. All students, regardless of nationality, pay the same tuition fees and have equal opportunity to apply for scholarships and need-based financial aid. Students are encouraged to explore student financial aid supports in their home country including government student aid as some programs may support study in a foreign country.

When applying for a study permit to Canada, an international student must demonstrate to the Canadian Embassy their ability to financially support their tuition, living, and travel costs for their study period at Quest. Students unable to demonstrate their ability to financially support themselves to study in Canada will likely be denied a study permit from the Canadian Embassy.

Please visit the Government of Canada website under Immigration>Study at www.cic.gc.ca

If you have any questions about the status of your file, contact your Admissions Counsellor or the Office of Admission and Enrolment at admissions@questu.ca or 604-898-8000

Quest University Canada is committed to accessibility and equity. Students with protected characteristics are welcome to request reasonable accommodations for the application process, and should speak with their admissions counsellor if they wish to do so. Any inquiries regarding accommodations while attending Quest, should contact Krista Lambie, Manager of Accessibility, Equity, and Career Serves, at krista.lambie@questu.ca.