What Every U.S. Student Needs to Know

Below is some critical information to help you on your loan journey while studying at a foreign institution. Click on the links below (in red) for more information.

Learn How to Manage your Money (link takes a few seconds to open)

Average costs for one (8 month) school year total $22,500 to $30,000 dollars (Canadian). Tuition fees have not yet been  finalized - please note that International Fees increase annually so ensure to consider this when planning where to go to school.  Not all loans cover all of your educational costs so please review your expenses carefully against your available loan limits.  

Satisfactory Academic Progress (SAP) & Course load Requirements

There are academic performance expectations when you are studying with approved U.S. Federal funding. Please read the University of Manitoba's policy on SAP.

Open a Canadian bank account

The Direct Loan program means that US loan funds will be sent via wire transfer from the US Treasury to the University of Manitoba directly (no more paper cheques to endorse)! We will credit your tuition account (after verifying eligibility) and then after fees are paid in full, students will receive a refund cheque in Canadian dollars. If you deposit this into a US bank account, your money will most likely be held for anywhere between 2-4 weeks but if you have a Canadian dollar account, you will most likely avoid this long holding period so that you can gain access to your money faster.

Shop around and compare student banking plans, remembering to ask how long they will hold cheques for (if they do at all). We do not recommend any banks specifically as it is your preference in who to choose but if you will be living in residence, the only banking instituion that offers ATMs on campus is Canadian Imperial Bank of Commerce (CIBC).

Visa Requirements

All students must show to Canadian immigration that they have enough funding to pay for their educational & living expenses. Student loans are only meant to be a supplement to what you already have and often do not cover all of your costs.  Our office can provide proof of funding letters, upon request, if your loan information (Student Aid Report and MPN) and UM application have been received. Please allow 2-4 weeks for processing.

Exit Counselling 

This is a mandatory step that must be completed online when you stop attending school (whether by completing your degree or by ceasing study).