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Saskatchewan Student Loans in Canada and Financial Aid

October 27th, 2010
Sask student loans

Saskatchewan Student Loans

As a resident of Saskatchewan, Canada, and a current or potential college student, you may be eligible for a great deal of financial aid to help pay for your education. These funds come from Saskatchewan student loans, Canada Student Loans, and other sources that are administered by the Saskatchewan Governments Division of Advanced Education, Employment, and Immigration.

First, you will be filling out one application to apply for numerous bursaries, grants, and loans that are available from the federal government, under the Canada student loans program, and the bursaries, loans, and grants available through Saskatchewan. All of these loans will be administered through the National Student Loans Service Centre, because they will be integrated student loans.

Advanced Education, Employment, and Immigration Division

The Advanced Education, Employment, and Immigration Division administer numerous programs that can help you finance your education. This includes the Graduate Retention Program, which is a tax credit that can give you a rebate of up to $20,000 that you’ve paid towards your college education, after you have graduated, Internship programs and student jobs, The Millennium Scholarship Program, the Millennium Bursary Program, the Provincial Training Allowance, the Saskatchewan Health Bursary Program, the Student Summer Works Program, and of course SASK Student Loans.

Saskatchewan Student Loans Guidelines

Although it is your responsibility to provide funding for your education, and the SASK student loans program is only meant as a supplement, recent changes to the program make it possible for more of your education to be funded through this resource. For example, one change is that if you are a full time student, you can earn as much money as you want or can earn during the time that you are in school, and this will not affect the amount that your eligibile for funding. Those earned funds can be used towards your education or living expenses.

On all Saskatchewan student loans obtained through this program, the interest rate is the prime interest rate at the time that the loan becomes payable. This prevents you from being charged overly high interest rates on your SASK student loans. Another change allows students to own motor vehicles, without the value of the vehicle affecting the aid that they receive.

Through the integrated program with the federal government, you could receive up to $408 per week of study if you are in a one year program or a multiple year program that will result in a certificate, undergraduate degree, or diploma. You can receive the same amount if you are in a graduate program, and you could receive up to $633 per week of study if you are a medical student. There is no guarantee that you will receive the full amounts. This is based on an assessment that includes expenses, as compared to other financial aid resources. If you have dependents, you could receive up to $47 in additional funds for each week of study. Go to: student loans in Canada for more Canadian financial aid. Go to: Saskatchewan student loans for information and programs administered by the Advanced Education, Employment, and Immigration Division of the Government of Saskatchewan.

Related Reading

Nova Scotia Student Loans.

OSAP Ontario.