Prescribed Interest Rate Loans

Loans from $50,000 to $500,000 for UBC Vancouver faculty members to help in the purchase of a primary residence in Metro Vancouver.

The Prescribed Interest Rate Loan (PIRL) program is a merit-based program that offers low-interest and interest-payment-only loans to full-time tenure-stream faculty members for the purchase or refinance of a primary residence in Metro Vancouver. Applicants are assessed on academic merit and strategic importance to faculty and university-wide recruitment and retention priorities through an adjudication process overseen by the Office of the Provost. It is a highly competitive program with $15M available annually, so not all applications can be approved. The funding is replenished every April 1, which is the beginning of the new UBC fiscal year. 

 

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