30.11.08

Canada Student Loans

The Government of Canada created The Canada Student Loans Program to make postsecondary education accessible to students attending a University, College, Trade School, or Vocational School, with a financial need, in attempt to ensure Canadians have the opportunity to develop the knowledge and skills needed to participate in the economy and society.

Depending on the school or program, tuition can cost between $2,500 and $8,000 a year or more.

Determine Your Eligibility

Canada Student Loans are available for full-time and part-time study at designated schools (including certain postsecondary institutions outside of Canada). To find out more about student financial assistance available in your province or territory of permanent residence or visit CanLearn.ca.

To be eligible for a Canada Student Loan as a full-time student, you must meet all of the following conditions:

  • You must be a Canadian citizen or a permanent resident of Canada, or be designated as a Protected Person.
  • You must be a permanent resident of a province or territory that issues Canada Student Loans.
  • You must demonstrate financial need.
  • You must be enrolled in at least 60 percent of a full course load (students with permanent disabilities must enrol in at least 40 percent of a full course load).
  • You must be enrolled in a degree, diploma or certificate program of at least 12 weeks of training and study within 15 consecutive weeks at a designated post-secondary educational institution.
  • You must pass a credit check if you’re 22 years of age or older and applying for a Canada Student Loan for the first time.
  • You must maintain a satisfactory scholastic standard if you’ve already applied for and received a Canada Student Loan.

Application Process

You must apply for the Canada Student Loan through your provincial or territorial student financial assistance office. Applications can be completed online in most provinces.

Applications are available through your high school, post-secondary institution or the Student Assistance Office of your province or territory of residence—many provinces and territories now offer online applications. In general, student loan applications are assessed within 4 to 6 weeks while online applications are often processed more quickly.

It is possible to obtain a full-time Canada Student Loan to attend a post-secondary institution outside of Canada if you plan on studying abroad. You must first contact your Provincial or Territorial Student Assistance Office to determine whether the institution you wish to attend is recognized as a Designated Institution.

Receiving Financial Assistance

A letter of assessment from the provincial or territorial student financial assistance office will be provided to you. Once you have received this assessment two things must happen:

1. Your school must confirm that you are enrolled.

The Certificate/Student Loan Agreement is valid for only 30 days from the date it is signed by your school and no later than the end of the month shown as the “Period of Study End Date”.

2. You must read, review, and sign your documents.

When you sign your loan document, you agree to be bound by those terms and conditions. They include important commitments, such as:

  • you agree to repay your loan (plus interest) beginning 6 months after your studies have ended or after you have left school
  • you agree to advise the NSLSC (for federal loans) of any change in contact information
  • you acknowledge that for 6 months after you have completed your studies or left school, you will not be required to make payments. Interest, however, will start to accumulate on your loans.

Bring your completed document to the NSLSC at either a Designated Canada Post Outlet or an on-campus NSLSC kiosk.

Normally, your loan amounts will be disbursed twice througout the year depending on the time you applied. 1 during your first term, and 1 during your second term.

Interest

Full-time students: Government student loan programs don’t charge interest until you have left school. Interest accumulates from the month after you leave school, but payments are only required 6 months after.

Part-time students: Interest accrues and must be paid on part-time Canada Student Loans while you're in school.

Contact Information

  • Nova Scotia
    Student Assistance Office
    Tel.: 902-424-8420
    Toll-free: 1-800-565-8420 (within Canada)
    TTY: 902-424-2058
    www.studentloans.ednet.ns.ca
  • New Brunswick
    Student Financial Services
    Tel.: 506-453-2577 (Fredricton area)
    Toll-free: 1-800-667-5626
    www.studentaid.gnb.ca
  • *Quebec
    Aide financière aux études (AFE) reception and enquiries desk
    Tel.: 418-643-3750
    Toll-free: 1-877-643-3750 (within Canada/US)
    www.afe.gouv.qc.ca/en/index.asp
  • Ontario
    Student Support Branch
    Tel.: 807-343-7260 (Ontario students attending a post-secondary institution outside Ontario)
    Students attending a post-secondary institution in Ontario must contact the financial aid office at their post-secondary institution for assistance.
    Tel.: 1-866-330-3331 (automated telephone voice response system for status of application; available only in Canada)
    TDD/TTY: 1-800-465-3958
    http://osap.gov.on.ca
  • Manitoba
    Student Aid Branch
    Tel.: 204-945-6321
    Tel.: 204-945-2313 (outside Manitoba)
    Toll-free: 1-800-204-1685 (within Manitoba)
    TTY: 1-866-209-0696 (within North America)
    www.manitobastudentaid.ca
  • Saskatchewan
    Student Financial Assistance Branch
    Tel.: 306-787-5620 (Regina area and outside Canada)
    Toll-free: 1-800-597-8278
    www.student-loans.sk.ca
  • British Columbia
    Student Aid BC
    Tel.: 250-387-6100 (Victoria area)
    Tel.: 604-660-2610 (Lower Mainland)
    Toll-free: 1-800-561-1818 (anywhere else in Canada/US)
    TTY: 250-952-6832
    www.studentaidbc.ca
  • *Northwest Territories
    Student Financial Assistance
    Tel.: 867-873-7190
    Toll-free: 1-800-661-0793
    www.nwtsfa.gov.nt.ca
  • *Nunavut
    Student Assistance Office
    Toll-free: 1-877-860-0680 (can be used locally)
    Tel.: 867-473-2600 (Baffin)
    Toll-free: 1-800-567-1514 (Baffin)
    Tel.: 867-645-5040 (Kivalliq)
    Toll-free 1-800-953-8516 (Kivalliq)
    Tel.: 867-983-4031 (Kitikmeot)
    Toll-free: 1-800-661-0845 (Kitikmeot)
    www.gov.nu.ca/education/eng
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