U.S. Federal Student Aid

Direct Subsidized and Unsubsidized Loans are low-interest loans offered by the U.S. Department of Education to eligible American students to help cover the cost of education at Tyndale.

• Direct Subsidized Loans are only available for eligible undergraduate students who demonstrate a financial need.
• Direct Unsubsidized Loans are available for undergraduate and graduate students who do not qualify for subsidized loans, but eligibility is not based on financial need.

Eligibility

To be eligible for a Direct Loan you must:

• Be a US citizen, national, US Permanent resident, or an eligible non-citizen as defined by the US Department of Education
• Maintain satisfactory academic progress
• Have a valid Social Security Number (SSN)
• Have a completed high school diploma or equivalent
• Enrolled at least half-time (Undergraduate: 7.5 credit hours per semester; Seminary & Graduate: 6 credit hours per semester) in an eligible program

Applying for Direct Subsidized and Unsubsidized Loans

1. Complete the Free Application for Federal Student Aid (FAFSA). For this application, you will need to enter Tyndale’s school code: G22164. You must complete an application every year.
2. Submit a copy of the Student Aid Report (SAR) to Tyndale Financial Aid Office.
3. Email Tyndale Financial Aid Office at financialaid [at] tyndale [dot] ca to inform them that you will be applying for a Direct Loan.
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 (PDF) and submitting this to the Financial Aid Office.
5. Complete the Direct Loan Master Promissory Note (MPN). You may obtain a MPN at studentaid.gov. Submit a copy to the Financial Aid Office. Note that you must complete a new MPN every year.

Tyndale will assess and certify your loan application once you have been accepted into Tyndale and we have received all the above items.

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.

Amount You are Eligible to Receive Per Year

Loan Repayment

Repayment begins six months after a student graduates, leaves school, or drops below a half-time course load.

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. Parent PLUS loan, in combination with other financial aid, cannot exceed the total cost of education.

Eligibility

Parents of dependent undergraduate students enrolled in at least half-time (7.5 credit hours per semester) in an eligible degree program may apply. Eligibility is not based on financial need, but a credit check is required.

Amount you are eligible to receive

You will receive up to the cost of attendance, minus any other financial assistance (including Direct Subsidized and Unsubsidized Loans).

Applying for Parent PLUS loan

1. Your dependent child must first complete the FAFSA for Direct Loans.
2. Parent can complete a PLUS loan application at studentaid.gov.
3. Inform Tyndale Financial Aid Office that you will be applying for a Parent PLUS Loan by email at financialaid [at] tyndale [dot] ca.
4. Complete the PLUS Credit Counselling session online at studentaid.gov.
5. Complete the Loan Agreement for a PLUS Loan (MPN) at studentaid.gov. Submit a copy to the Financial Aid Office.

Tyndale will assess and certify your loan application once your child has been accepted to Tyndale and we have received all the above items.

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.

Loan Repayment

Repayment of the loan begins 60 days after the loan is disbursed unless it is deferred.

In accordance with U.S. federal regulations, the Financial Aid 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:

• Tyndale Direct Loan Confirmation Form (PDF) (i.e. Entrance counselling confirmation)
• Direct Loan Master Promissory Note (MPN)
• Student Aid Report (SAR)
• Tyndale Exit Counselling Confirmation Form (PDF) (where applicable)
• Appeal documents (where applicable)
• Additional documents related to Title IV funds eligibility

In addition to the previous documents, the Financial Aid 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

The Cost of Attendance (COA) is an estimate of reasonable educational expenses a student should anticipate for the study period. What is included in this estimate is determined by the U.S. federal law. These expenses include direct costs associated with attending Tyndale and indirect costs. Direct costs include course fees (including ancillary fees) and residence fees (if applicable). Indirect costs will factor in a student’s cost of living including room & board (if living off campus), textbooks & supplies, health insurance, and other miscellaneous living expenses (e.g., food, transportation, personal hygiene, recreation, and more).

In accordance to U.S. federal regulations, a student’s awards cannot exceed the cost of attendance. Awards include Title IV funds (loans and grants), all scholarships and bursaries awarded by the school, and third-party awards.

When awarding students their Title IV funds, Tyndale will take into account all their earned awards to balance with their COA. This rule is put in place to help prevent over-awarding unnecessary funds to the student they will be obligated to pay back.

2024-2025 Estimated Cost of Attendance Table (PDF)

Direct Loan Entrance Loan Counselling

Students who have not previously received a Direct Loan are required to complete an entrance counselling to ensure that they are aware of the responsibilities and obligations of a Direct Loan borrower.

Entrance counselling sessions can be completed by visiting studentloans.gov. This must be completed prior to receiving your first loan disbursement. Students only need to complete this once. Students will not need to complete the entrance counselling session again to receive future Direct Loan funding.

Students must submit the Direct Loan Confirmation Form (PDF) to the Financial Aid Office to confirm completion of Entrance Loan Counselling.

Direct Loan Exit Loan Counselling

Students who have received a Direct Loan must complete an exit counselling each time before they drop below half-time enrolment, graduate, or leave the school.

Exit counselling sessions can be completed by visiting studentloans.gov. After completing the exit counselling session, students must submit the Exit Counselling Confirmation Form (PDF) to the Financial Aid Office.

Title IV funds (Federal U.S. Student Aid) are awarded to a student under the assumption that the student will attend school for the entire period (semester) for which the assistance is awarded. When a student withdraws from school, the student may no longer be eligible to receive the full amount of Title IV funds that the student was originally scheduled to receive.

U.S. Federal Regulations determine how Title IV funds are handled when a Title IV fund recipient who began attendance withdraws entirely from Tyndale University (Tyndale) prior to the end of an enrollment period (i.e., semester). A Return of Title IV calculation is performed if a student:

• Withdraws from all courses;
• Stops attending classes before the end of the study period.

The return of funds is calculated based on a pro-rated schedule which calculates the amount of Title IV funding they have earned at the time of withdrawal.

Tyndale students who receive Title IV funds and withdraws from classes before the end of the semester have dual responsibility with the school for returning any “unearned” federal aid to the U.S. Department of Education (DOE).

Withdrawal Process

If you are dropping out of all your classes:

• Submit a Withdrawal Notification Form to the Office of the Registrar.
• Refer to Tyndale’s Refund Schedule for refund and grade details. The Refund Schedule can be found in the Academic Calendar or in the Student Financial Services Office.
• It will be your responsibility to cancel any payments submitted to Student Financial Services at sfs [at] tyndale [dot] ca or 416.226.6620 ext. 6735.
• If you are a recipient of Title IV funds, please contact Financial Aid Office at financialaid [at] tyndale [dot] ca or 416.226.6620 ext. 2177.

How “Earned” Financial Aid is Calculated

Title IV funds recipients “earn” the aid by attending classes. The amount of “earned” aid is based on a pro-rated system. Students who withdraw or do not complete all their enrolled classes may be required to return a portion of their aid based on a calculation of their “earned” financial aid. They will be required to return the “unearned” funds that they’ve been originally awarded.

Tyndale is required to perform an R2T4 calculation to determine the percentage of Title IV aid “earned” by the student and the amount of “unearned” aid that may be required to be returned to the appropriate federal aid programs. Tyndale is required to perform this calculation within 30 days of the date the school determines that a student has completely withdrawn. The school must return the funds within 45 days of the date of determination that the student withdrew. The R2T4 calculation is completed by the Financial Aid Office.

"Earned” aid is calculated by dividing the number of classes attended by the total number of scheduled classes in the study period. “Unearned” aid is equal to 100 percent less the calculated percentage “earned”.

R2T4 Calculation Example

Scenario

• US Direct Loan funding eligible to receive for the academic year (Sep. 8 – Apr. 15): $10,000
• US Direct Loan funding received in the fall semester (Sep. 8 – Dec. 16): $5,000
• Student submits Withdrawal Notification Form on Oct. 7.
• Office of the Registrar confirms withdrawal on Oct. 10.

Calculation

• Number of scheduled classes in the fall study period: 24 classes (Sep. 8 – Dec. 16)
• Number of scheduled classes completed: 9 classes (Sep. 8 – Oct. 10)
• Percentage of study period earned: 37.5% (9 classes/24 classes)
• US Direct Loan funding earned: $1,875 ($5,000 x 37.5%)
• US Direct Loan funding not earned: $3,125 to be returned ($5,000 - $1,875)

R2T4 Process

• The student notifies the school of their withdrawal or course reduction by submitting to the Office of the Registrar a Withdrawal Notification Form which can be found on their Forms webpage.
• A copy of the Withdrawal Notification Form, complete with a signature from the Office of the Registrar and indicating the last date of attendance, is received by the Financial Aid Office. The latest date of attendance in the classes in which the student was enrolled will be used as the withdrawal date.
• The Financial Aid Office determines the amount of Title IV aid originally awarded and whether it is “disbursed” or “could have been disbursed.” This calculation will be conducted within 30 days of withdrawal.
• The Student Financial Services Office provides the student’s original tuition, residence, and other applicable fees to determine institutional charges.
• An R2T4 worksheet on the “FAA Access to CPS” site is completed using the above data. The calendar for the payment period will have previously been entered and saved.
• The student is notified by email of any “unearned” aid or if they are eligible for a post-withdrawal disbursement. This notification must be made within 30 days of the date of determination that the student withdrew.
• The Student Financial Services Office will post the recalculated amount of aid for which the student is eligible (as per the results of the R2T4 worksheet) to their Student Account.
• A copy of the worksheet is maintained in the Financial Aid Office and electronically scanned and made part of the student’s record after the end of the semester.
• Tyndale will return funds to the federal programs on the student’s behalf and this will be reflected on their Student Account. Outstanding funds must be returned within 45 days of the date of determinination that the student withdrew.
• In the instances in which a student owes a federal loan repayment in addition to what Tyndale has returned to the federal programs, the student is notified in writing and the amount is reported by the Financial Aid Office as an overpayment.
• The student is responsible for repaying that overpayment in full to the DOE within 45 days of the notification date.
• The student is responsible for all Tyndale charges and federal overpayments resulting from an R2T4 calculation.

Note that Tyndale University disburses Title IV funds only once at the beginning of each semester/pay period and refunds any credit balances to the student within 14 days of disbursement. In the instance in which a student withdraws and has a TItle IV credit balance on their student account, it must be disbursed to the student within 14 days after the calculation of R2T4.

Funds to Include in a Return to Title IV Calculation

Title IV funds which must be included in the refund calculations are listed in the priority order of their return as follows:

1. Direct Unsubsidized loans;
2. Direct Subsidized loans;
3. Direct PLUS loans.

Post-Withdrawal Disbursement (PWD)

A Post-Withdrawal Disbursement is offered when the student is eligible to receive previously undistributed “earned” aid, as a result of the R2T4 calculation. The student will be notified via email by the Financial Aid Office within 30 days of the date of determination that the student withdrew. 

The post-withdrawal notification will include the following:

• The reason why there is a PWD;
• The type and amount of loan funds that make up the PWD;
• A reminder that the PWD is a loan and must be repaid along with the rest of their outstanding loans;
• The student has 30 days from the date of notification to respond in writing to Tyndale about their decision to accept or decline some or all of the PWD funds;
• Accepted PWD will be distributed to the student's account for any outstanding tuition and residence balance (excess funds will be distributed to the student) within 180 days of the determined date of withdrawal; and
• As a result of the student declining the PWD, failing to respond or submitting a late response after the 30 days, the PWD will be returned to the DOE.

Tyndale will document the results of the notification process and the final determinations made regarding the Post-Withdrawal Disbursement.

Determination of Withdrawal Date

The withdrawal date used in the R2T4 calculation is the actual last date of attendance as provided by the Office of the Registrar on the withdrawal form.

When a Student Fails to Begin Attendance

If financial aid is processed for a student who fails to begin attending any class in the study period, all aid will be canceled and returned to the Department of Education. Students who have never attended classes for the study period will be reported by the Office of the Registrar.

Attendance Policy

Class attendance and participation are part of the evaluation of the student and may have a bearing on the final grade for the course.

When a student misses a significant number of classes because of illness, he or she should notify the Dean of Student Life in person or by phone. The student will need to submit a doctor’s certificate upon return. The Dean of Student Life will notify the student’s professors of the reason for the absence and suggest that they take this reason into consideration when grading assignments.

More details about the attendance policy, including policy for specific course offerings can be found in the Academic Calendar.

Information Regarding Loan Repayment

The R2T4 calculation may result in the student (or student’s parent[s] in terms of a PLUS loan) being responsible for directly returning additional loan amounts to the U.S. Department of Education. The borrower must make payments in accordance to the signed promissory note. The student should contact loan service provider or the U.S. Department of Education to arrange payments.

• U.S. Federal Regulations requires Tyndale University (Tyndale) to develop and apply a Satisfactory Academic Progress (SAP) standards to all Title IV fund recipients. The purpose of SAP is to ensure that Title IV fund recipients are adequately progressing towards their degree. Students must meet both a “qualitative” and a “quantitative” standard in order to maintain eligibility for financial aid. Failure to meet these standards may result in future ineligibility to receive Title IV funds.

The academic standards set by Tyndale’s SAP policy for Title IV fund recipients are the same as the standards for students not receiving Title IV funds. This policy applies to all semesters – whether aid was or was not received. These academic standards are consistently applied to all students – whether they are full-time, part-time, undergraduate, or graduate students.

The Financial Aid Office, in consultation from the Office of the Registrar, will evaluate all Title IV fund recipients according to the SAP standards at the end of each payment period (i.e. semester) and both the qualitative and quantitative standards must be met for SAP to be satisfied.

Qualitative and Quantitative Standards

Qualitative Standard

Students must meet the minimum cumulative grade point average (CGPA) standard of 2.0 (“C” average) to meet the qualitative standard. Students enrolled in a program of more than two academic years must have a CGPA of 2.0 or greater at the end of the second academic year.

Quantitative Standard

Pace of Completion

Students must progress at a satisfactory “pace of completion” to meet the quantitative standard. Pace of completion is calculated by dividing the cumulative number of credit hours earned by the cumulative number of credit hours attempted. Note that this calculation includes both attempted and earned credits hours transfered from another institution. Students must successfully complete 67% of attempted credit hours each semester.

Maximum Time Frame

As another measure of the quantitative standard, Title IV fund recipients must complete their program of study within 150% of the published length as measured in credit hours, which represents their "maximum time frame".

Attempted credits hours include all courses registered by the census date (e.g., earned, unearned, transfer credits).

• Earned credit hours are grades of “A”, “B”, “C”, “D”, and “P”, and the +/- variations of these grades.
• Grades of “I” (Incomplete), “W” (Withdrawal), “N” (No Pass), and “F” are unearned credit hours and will count towards the attempted credit hours total, negatively impacting the pace of completion (quantitative standard). An “F” grade is equivalent to a 0 grade point, negatively impacting the CGPA (quantitative standard).
• Audit courses are not eligible for Title IV funds and will not be included as part of the SAP determination.

Students are permitted to repeat courses. The repeated course will count as part of the attempted credit hours and the cumulative GPA.

Failure to Achieve Satisfactory Academic Progress

Students who do not meet the qualitative or quantitative standard, or both, when academic progress evaluation is conducted at the end of each semester will no longer be eligible for assistance under the Title IV program unless the student is placed on Financial Aid Warning or the student has appealed and has been placed on Financial Aid Probation. Student who do not meet the SAP standards will receive a written notice at the end of the semester.

Financial Aid Warning

If the student does not meet the SAP standards for the first time, the student will be placed on Financial Aid Warning. The student will remain eligible for assistance from Tyndale and under the Title IV program, without an appeal. If the student does not meet SAP standards in the semester after being placed on Financial Aid Warning, the student will be placed on Financial Aid Suspension at the end of the semester. For this case, the student may appeal to be put on Financial Aid Probation.

Financial Aid Suspension

If the student does not meet the SAP standards, the student will be placed on Financial Aid Suspension. The student will no longer be eligible for assistance from Tyndale or the Title IV program until they meet SAP standards or successfully appealed the Financial Aid Suspension status.

Financial Aid Probation

If a student successfully appeals a Financial Aid Suspension, the student will be placed on Financial Aid Probation for one semester.

Probationary status will be lifted when the student meets SAP standards. Students who do not meet SAP standards by the end of the probationary semester will be placed on Financial Aid Suspension and will be ineligible to receive Title IV funds for subsequent semesters until academic progress deficiencies are corrected. It is advisable that students on probation meet with the Centre for Academic Excellence and the Financial Aid Office to ensure that satisfactory academic progress can be met.

Re-establishing Title IV Funds Eligibility

Students does not meet the SAP standards and loses Title IV eligibility under special circumstances (e.g. death in the family, illness or injury to the student, or other circumstances) may request to file an appeal for reinstatement in the program.

Appeal Letters

Appeal letters must include:

• The circumstances that affected your ability to meet SAP standards
• How those circumstances have improved or changed
• Steps you will take to improve your academic progress and meet SAP standards
• A description of your academic goals
• Student must include their transcript as part of their appeal

Appeals must be submitted to the Financial Aid Office.

After submitting an Appeal

• If the appeal is approved, the student regains Title IV funds eligibility for one probationary semester, of which probation policies will apply.
• If the appeal is denied, the student will be ineligible for Title IV funds and must self-fund their education costs. Students can re-establish their eligibility by enrolling at their own expense and meet the SAP standards again.
• In the case that an appeal for a student who is not meeting SAP standards is not permitted, the student can re-establish their eligibility by enrolling at their own expense and meet the SAP standards again.

• Academic Calendar
• Accessibility Services
• Accreditation
• Privacy Policy
• Refund Policy
• Tuition & Fees
• Withdrawal Procedures (see Academic Calendar)