Student Loans

 by: Dave Lympany

Student loans in Canada are provided by a joint Federal and Provincial program with the amount of and eligibility for a loan different between the Provinces and so depends upon the Province you are a resident of (your Province or territory of residence is decided by where you have lived for the last 12 months consecutively whilst NOT a student). You may, however, attend any educational establishment in the country provided both the establishment and the program of your choice are listed by the assistance office in your province.

There are several different types of funding for post secondary education that include grants and bursaries (which you wouldn’t have to pay back) but there are 2 main types of student loan – the Federal and Provincial programs. Whichever type of loan you wish to apply for it all has to be started off by applying to the Provincial/Territorial Assistance office for the Province you are officially a resident of.

The main attraction of a student loan is that although they are REAL loans that do have to be repaid, they are interest free while you remain enrolled in an eligible education program. Once you graduate/leave education the repayment terms are set (normally low interest and you agree the repayment term) and you begin to pay them back. Banks and other lending establishments are no longer involved in offering new loans as all funding is provided by the federal or provincial governments.

Quebec, Northwest Territories and Nunavut are NOT involved in the Canada Student Loans program and have their own systems. If you are a resident of one of these 3 provinces or Territories then you need to contact the particular office for that Province.

To start the ball rolling with the application for a loan there are several processes that you should consider. Your eligibility is the most important – both you (the applicant) and the course you wish to undertake must meet the criteria laid down.

The applicant: The main factor of eligibility is whether you are intending to be a full or part time student. If you are a part time student (20 – 59% of full course load) you may only apply for federal assistance though you would apply through the provincial/territorial assistance office.
  (continued...)

Student Loans
  Page 2

About The Author Dave Lympany and his family arrived in Canada in 2003 as permanent residents and have developed a Onestop information resource for Canadian Immigration and Life in Canada – http://www.onestopimmigration-canada.com. davelympany@shaw.ca

Additional Resources

category - Education Grants

Choosing An Online Private College And University
Private colleges and Universities are known for their high standards and excellent academic programs. Their online programs are no different. If you are ready to get your Bachelor's degree, or if you...

---

Ethical Schools Project in Peru
The Ethical Schools Project revolves around the notion of promoting a culture of ethical behavior and civic responsibility among members of the youth, as well as teachers and parents. The project also aims to explore ways that would contribute to a reduction in corruption and other forms of illicit activities such as cocoa cultivation and illegal environmental degradation, which are both common practices in Peru.

---

7 Steps Towards Choosing The Perfect College
In most instances, the problem doesn't stop with finances. Students often find it hard to choose the right school for them, pick the course that best suit their needs and abilities.

---

National Science Foundation announces the Cyberlearning: Transforming Education Program
The Cyberlearning: Transforming Education is a program wherein the NSF will provide funding for research proposals that aim to explore opportunities associated with the promotion and assessment of learning techniques through the help of new technologies, taking advantage of the application of those technologies, and the utilization of those technologies in the process of promoting deep and lasting learning of content, practices, skills, attitudes, and dispositions that are essential in becoming an engaged and productive citizen.

---