Canadian Student Loans
Many students apply for loans through the government to help pay for school. The benefit to taking out these kinds of loans is that they remain interest and payment-free while you are studying full-time.
To qualify for government student loans, you must be a full-time student (registered in 9 or more credit hours each semester) and a citizen or permanent resident of Canada. Students who are registered in 6-8 credit hours may be eligible for a Part-Time Student Loan.
What to Expect
Your financial need will be assessed based on your personal income and financial situation, and possibly that of your parents (if you are classified as a “dependant”). Students won’t typically receive more than $11, 000.00 per year from their student loans, so it’s important to find additional financial sources to cover your tuition and living expenses. Visit www.canlearn.ca and use their “Student Financial Assistance Estimator” to calculate what you could be assessed for.
Once your loan has been processed, you will receive documents in the mail. It is very important to keep your address up to date with the student loan providers to ensure that you receive all communication they send you. Read all of the documents carefully and follow the directions accurately.
For more information about Canada Student Loans, visit www.canlearn.ca.
When to Apply
Applications are typically made available in early June for the upcoming school year and you can usually apply for a loan until 6 or 8 weeks before the end of your study period.
It is best to apply for student loans as soon as possible to ensure that your application is processed before school begins. It is recommended that you submit your loan application by July 15th for the Fall semester or full academic year and by November 1st for the Winter semester.
Please remember that if your loan has not been processed by Financial Registration, you must be prepared to pay at least 10% of your balance owing. For more information about this, please see our Financial Policies & Procedures.
How to Apply
Funding for your student loan is divided between the federal Canadian government (60%) and your provincial government (40%) and you must apply through your home province (links to the various provincial student loan sites are provided below for your convenience).
It is strongly recommended that you apply for your student loan using your province’s online system, if possible. Applications submitted online generally take 4– 6 weeks to process, whereas paper applications can take 8 weeks or more. If you prefer to apply with a paper application, you must order one from your home province.
BC Student Loans
Alberta Student Loans
Saskatchewan Student Loans
Manitoba Student Loans
Ontario Student Loans
New Brunswick Student Loans
Nova Scotia Student Loans
Newfoundland Student Loans
Prince Edward Island Student Loans
Yukon Student Loans
Nunavut Student Loans
Northwest Territories Student Loans
Please also see the Student Loan FAQs for more information.