Loans & Bursaries
The University offers a program of In-Course Financial Aid (loans and/or bursaries) to full time undergraduate and graduate degree students in good academic standing on the basis of demonstrated financial need.
- Loans are repayable awards that have a specified due date. While most loans are offered on a long-term basis, short-term loans are also available to students faced with extenuating circumstances.
- Bursaries are non-repayable awards.
- Most recently, approximately $5.8 million of In-Course bursary assistance was awarded to 1,500 students with financial need.
- Quebec / Canadian Students received 1,060 awards averaging $3,260 each.
- US / Overseas International Students received 445 awards averaging $5,225 each.
- Special, Visiting, Qualifying, Continuing Education, Diploma, and Certificate students are not generally eligible for McGill Financial Aid.
- In order to be considered for McGill Financial Aid, it is recommended that all applicants apply for the maximum government student assistance program for which they are eligible. Students must also be in satisfactory academic standing to qualify.
How to apply?
To apply for In-Course Financial Aid, go to Minerva > Financial Aid/Awards tab > Financial Aid Menu > Apply for McGill Financial Aid > Apply for In-Course Financial Aid > Update your financial aid profile and submit your application. Once you have completed your application, you will need to make an appointment for an interview with a Student Aid Counsellor by calling our receptionist at 514-398-6013 (514-398-7992 for Macdonald Campus students).
Students with disabilities who are registered in a reduced course load may be eligible for financial assistance from the University. Please contact us if you require help completing an on-line application.
When to apply?
The application for In-Course Financial Aid is always for the current academic year (September to August). Applications for the current academic year are available as of August. Students can apply any time throughout their academic year provided they are registered full-time in a degree program and are in satisfactory academic standing.
When do I get the results?
Once you meet with a Student Aid Counsellor, a decision is usually posted on Minerva within a week. Exceptional cases may take longer.
McGill Loan Repayment Information
McGill loans are interest-free until the due date (which will be determined by your Student Aid Counsellor). Students who are unable to repay a McGill loan by the due date can request an extension as long as they continue to be registered full-time at McGill, remain in satisfactory academic standing, and demonstrate financial need. To apply for a loan extension, go to Minerva > Financial Aid/Awards tab > Financial Aid Menu > Apply for McGill Financial Aid > Apply for McGill Loan Extension > Update your financial aid profile and submit your application.
SSMU Access Bursary
Undergraduate students at McGill donate a portion of their Student Society fees to provide bursaries to students with financial need. The SSMU Access Bursary Fund was established by the Students' Society of McGill University and is administered by the Scholarships and Student Aid Office. Every dollar contributed by students is matched by the McGill Alumni Association, making this one of the most significant bursary funds offered by the University.
This fund provides much needed support for deserving undergraduate students and is a wonderful example of students helping students. The Scholarships and Student Aid Office is pleased to administer this bursary program in collaboration with SSMU.
Students do not submit a special financial aid application to be considered for the SSMU Access Bursary. They can be considered for the award by submitting an In-Course Financial Aid application and by meeting with one of our counsellors.