529 College Savings Plans
A 529 plan is a tax-advantaged savings plan designed to encourage saving for future education costs. Learn about saving for College: An Introduction to 529 Plans.
The University of Toronto is a Title IV eligible institution that participates in the William D. Ford Federal Direct Loan student aid program administered by the U.S. Department of Education.
Eligibility
Programs providing degree studies at the University of Toronto are approved for U.S. Direct Loans. There are certain programs/institutions which are not approved, which you can find listed below.
Please keep in mind that there may be a penalty for withdrawing funds for an ineligible program.
General questions regarding administration, withdrawals and any penalties should be directed to your 529 College Savings plan administrator. With regards to ineligible programs, please ask your administrator if 529 College Savings Plans funds can be used for a non-Title IV-eligible program at a Title IV-eligible university.
The U.S. Department of Education does not provide funding to students enrolled in:
- Certificate, diploma, non-degree programs
- Correspondence courses or programs
- Distance Education courses or programs
- Exchange and study abroad programs at U.S. institutions or institutions not eligible for Title IV or U.S. Direct Loans funding; see School Code Search
- Online courses or hybrid online/in class courses within programs. Note: A program with mandatory online or online/hybrid course(s) is ineligible for U.S. Direct Loans unless an equivalent in-class version of the course is offered by the program.
- St. Michael’s College
- Trinity College
- Victoria College
- Toronto School of Theology (and its member institutions)
- Faculty of Medicine – Doctor of Medicine
- Faculty of Nursing – Bachelor of Nursing
- Faculty of Nursing – Master of Nursing
- OISE – Additional Qualification Courses as they do not lead towards a degree
- Residency Programs
- Joint programs with other institutions not eligible for Title IV or U.S. Direct Loans funding – i.e. Art and Art History (joint program UTM/Sheridan College); Journalism (joint program UTSC/Centennial College). Students in joint programs can submit a ticket via the University Registrar’s Office Service Portal to have their program reviewed for eligibility.
Non-approved Programs with Distance/Online Learning:
- OISE – Educational Leadership & Policy Program
- OISE – Languages & Literature Program
- OISE – Master of Education (MEd) – Educational Leadership and Policy Program (Coursework Only Program Option – Online/Hybrid (part time) cohort-based stream)
- Rotman Global Executive MBA for Healthcare and the Life Sciences
- School of Continuing Studies and programs of instruction offered by telecommunications as a method of delivery.
- School of the Environment – Environmental Studies Collaborative Program
- School of the Environment – Environment & Health Collaborative Program
- School of Graduate Studies – Master of Social Work – Indigenous Trauma and Resiliency (ITR) Field of Study
Non-approved Programs with Study Components Held in the United States of America:
- Rotman-SDA Bocconi Global Executive MBA
Non-approved Certificate Programs:
- Certificate in Environmental Management
- Certificate in Renewable Energy
- Certificate in GIS for Environmental Management
- Certificate in Environmental Health
Additional Non-approved Programs:
- International Dentist Advanced Placement Program for Foreign-Trained Dentists (IDAPP)
- International Pharmacy Graduate Program (Canadian Pharmacy Skills) for individuals with foreign pharmacy degrees.
- National Committee on Accreditation at the Faculty of Law
- Research in the U.S. by doctorate students is at the discretion of the University Registrar’s Office in accordance with U.S. regulations.
Students in ineligible programs should consider applying for Alternative or Private loans.
Are you a student registered in an ineligible college?
If you are a student who was admitted or registered in an ineligible college (St. Michael’s, Trinity or Victoria), you may wish to consider requesting a transfer to a college which is eligible for both the 529 College Savings Plans and the William D. Ford Federal Direct Loan student aid. Such transfer requests must be made directly to the college you were admitted to, or to where you are currently registered.
How to Apply
Before beginning, consult your state 529 plan to discuss how to begin the distribution process for the funds. The following specific institutional details may be required to process the payment.
Mailing address:
Student Receivables and Accounting Office
University of Toronto
150 College Street, 3rd Floor
Toronto, Ontario, Canada M5S 1A8
Federal School Code: G06688
All payments must be accompanied by the student’s name, student number and (if possible) the student’s program of study, or ACORN invoice for processing.
Email a copy of your state College Plan Third Party Billing Notice along with your ACORN invoice to the Student Receivables & Accounting Office (SRAO) at studentar@utoronto.ca or fax to 416-978-2610.
Please note: SRAO must match your ACORN invoice with the Prepaid College Plan Third Party Billing Notice in order to record the Third-Party Sponsorship deferral and complete your registration.
Check ACORN to confirm that your registration status has changed from ‘Invited to Register’ to ‘Registered’.
Paying Your Fees
You should plan sufficient time to arrange to pay your fees by the payment deadlines for each session. If you require a Confirmation of Enrolment/Proof of Registration letter, you can obtain one as follows:
- Most students can request the Confirmation of Enrolment letter on ACORN.
- If the ACORN confirmation of Enrolment letter is not available to you, you can request the letter from your divisional registrar’s office.
The University of Toronto’s Federal School code is: G06688.
If your 529 College Saving plan will pay to the University of Toronto directly, the cheque must be payable to the ‘University of Toronto.’ All payments must be accompanied by the student’s name, student number and (if possible) a print-out of the ACORN invoice screen, so that we can ensure the payment is recorded to your account in a timely manner. Mail the payment to:
Student Receivables & Accounting Office
150 College Street, 3rd Floor
Toronto, Ontario, Canada
M5S 1A8
Resources
If you require further assistance, you can contact us by submitting a ticket to the University Registrar’s Office Service Portal by either logging in with your UTORID or as a guest.