Posts Tagged ‘canadian student aid’

Quebec Student Loans in Canada

November 1st, 2010
Student loans in Quebec

Quebec Student Loans

If you are seeking financial aid to help pay for college, and you are a resident of Quebec, Canada, you need to know about the Quebec student loans and Bursaries Programs that are available through Aide Financiere Aux Etudes. Student loans in Quebec and Bursaries are available for fulltime students and part time students.

To be eligible for a student loan in Quebec students must be attending a secondary school, such as a college or university or a vocational school. The school must be approved by the Ministere de l’Education, du Loisr et du Sport in order to receive funding through this program. It is the opinion of this organization, however, that it is the student’s responsibility to fund their own education, to the best of their abilities before they receive Canada student loans and aid through this program.

When you fill out the application for, which covers student loans in Quebec and bursaries, your situation will be assessed based on the information that you supplied on the application. Additional documentation may be requested, and must be submitted in a timely manner. The assessment looks at the cost of your education, your income, savings, and other sources of college financing that you have or will receive to determine your need for funding.

After this assessment, you will receive a notice that lets you know how much funding you will be receiving. You will also know which portion of that funding comes from Quebec student loans, which must be repaid after you graduate, and which portion comes from bursaries which do not have to be paid back. You will also know how much your monthly payments will be when the loan becomes payable before you ever receive it.

When you do receive your Quebec student aid funds, they are not paid to the school that you are attending. Instead, these funds are deposited directly into your bank account each month in most cases, but they may also be disbursed in full at the beginning of the term.

Other programs that are available through Aide Financiere Aux Etudes include a work/study program, an Allowance for Special Needs Programs for students who are disabled, or those who have a disabled child, the Loan Remission Program, which could allow up to 15% of your student loan debt to be forgiven, and a Deferred Payment Plan Program if you are having difficulties repaying your Quebec student loan in Canada.

As a resident of Quebec, you are not eligible for Canada Student Loans, Canada Access Grants, or Canada Study Grants. All government aid must come through Aide Financiere Aux Etudes if you are a Quebec resident, but you can obtain private funding and Quebec scholarships in Canada as well, and this may be necessary since this program requires you to assume the largest bulk of the responsibility of financing for your college education. You can also check with your college or university for other funding options that may be available to you.

For more information about Quebec student loans, visit Aide Financiere Aux Etudes. You can learn a great deal about other Canada student financial resources to help pay for college through the website as well.

Related Reading for Student Loans in Canada

NSLSC – National Student Loans Service Centre

Canadian Student Loans

OSAP – Ontario Student Loans in Canada

October 26th, 2010
OSAP Ontaio


If you are a resident of Ontario, Canada, and you will be attending college, you need to know about the OSAP (Ontario Student Assistance Program) so that you can obtain Ontario student loans in Canada to help pay for your education. Even if you have a Registered Education Savings Plan, or RESP, you will probably need additional funds to finance your college education.

The Ontario Student Assistance Program, also known as OSAP, is a part of the Ontario Ministry of Training, Colleges, and Universities. Funds received through this department can be used for tuition, books, transportation, and living expenses while you are attending school.

How the OSAP Ontario Works

You can apply for Canadian federal student aid, including loans, grants, and bursaries, as well as Ontario student aid with one application. The federal loan will cover up to 60% of your financial need, with additional funds provided through Ontario. However, there are maximums that you can receive. These maximums are set to keep you from having too much debt when you finish college. For example, if your program is only two terms in length, you can only receive up to $7300 in aid.

It is vital that you understand that this Ontario student loan program was not established to fund your entire education, but instead to supplement the other sources of funding that you have in place for your education, including your RESP, grants, bursaries, scholarships, employment, and work/study programs, among other Canada financial sources.

However, if all of your education is not funded, and you are out of financial sources, you may be eligible for the Student Access Guarantee, provided by Ontario. Through this program, all colleges and Universities in Ontario are required to provide the financial assistance that you require, beyond what is provided by OSAP, so that you can get an education. Only the costs of tuition, books, and mandatory fees are covered under this program. If this funding is needed, and you are a first time student, this will be determined when you fill out your application for funding through the OSAP. If you need this funding, you will be instructed to fill out a separate application through your college or university. The college or university will provide these funds through bursaries, scholarships, summer employment programs, or work/study programs.

OSAP – Ontario Student Assistance Program Criteria

In order to be eligible for funding through OSAP, your program and school must be approved by OSAP, it must be at least a twelve week program that results in a diploma, certificate, or degree, and you must have financial need for the funding. Each program administered through the OSAP may have additional eligibility requirements that you must meet as well. If you have defaulted on a Canadian student loan, exceeded your lifetime maximum, or been less than truthful on your OSAP application, you may be barred from receiving financial aid through these programs.

When you have finished your education, and your grace period has ended, the loans that you obtained through the federal government and the Ontario government are managed through the National Student Loan Service Centre. For more information regarding Ontario Student Loans, visit the Ontario Student Assistance Program website. You can also obtain information through NSLSC student loans in Canada.