Students participating in an official McGill exchange program show as registered full-time on their McGill transcript. As such, Canadian students participating in an official McGill exchange program are eligible to apply for government student financial assistance. American students participating in an official McGill exchange are eligible to apply for their federal aid (Title IV U.S. Direct Loans) within certain constraints and are strongly advised to consult the Scholarships and Student Aid Office for more details.

Students who take part in an Independent Study Away (i.e., “study away on their own”) are not eligible to receive government aid through McGill, as they are registered at their host institution. Students should verify with the institution they will be attending whether or not they will be eligible to receive government student financial assistance.