Posts Tagged ‘nova scotia student loans’

NS Student Loans (Nova Scotia Student Loans)

October 21st, 2010
Nova Scotia Student Loans

NS Student Loans

Getting NS student loans in Canada is a little confusing at first glance but it’s a pretty simple process. As a resident of Nova Scotia in Canada, there is certain financial aid to help fund your college education. Canada National Student Loans are not available to residents of Nova Scotia, so you need to apply for Nova Scotia student loans instead.

There is just one application to fill out for Nova Scotia grants and student loans. If you apply for the Nova Scotia Student Grant, and you are eligible, you will receive 20% of your financial need in the form of a grant, which does not have to be repaid, with the other 80% in the form of a NS student loan, which does require repayment. For example, if your need is assessed at $5000, you will receive a $1000 grant, and a $4000 loan. The most that you can receive under the NS student grant program, however, in the form of grant money is $150 per week of study.

Under the Nova Scotia Dependent Grant program, you can receive an extra $20 per week of study, and this is considered a grant. You must have dependents to qualify for this program, and you can qualify for the dependent grant program and the student grant program simultaneously.

While you are not eligible for student loans through the federal government of Canada, you are still eligible for Canada federal grants. This includes the Canada student grant for students from Low-Income Families, the grant for middle-income families, the grant for students with dependents, and the grant for students with permanent disabilities. You must apply separately for these Canada grants, through the Can Learn website.

In order to be eligible for the Nova Scotia Student Grant and Loan Program, you must be a Canadian citizen and a resident of Nova Scotia. The program must be a full time program, but there is also aid available for part time students, using a separate application. The program must be an approved program, and it must lead to a diploma, a degree, or a certificate, and it must be obtained through an approved college, university, or trade school in Canada. Additionally, the program must be at least twelve weeks in length.

It is vital that you make sure that the school and the program of study are both approved by funding through this program. A school may be approved, but the program of study that you have chosen may not be approved, so make sure that you double check this to be sure.

You must be taking at least 60% of a full time course load, unless you are disabled, in which case you must be taking at least 40% of a full time course load. You must not have any Canadian student loans in default, and any Canada student loans that you do have must be in good standing. You must maintain satisfactory grades to continue to be eligible for funding, and you must pass the Nova Scotia Student Assistance Credit Check as well.

For more information regarding NS student loan program in Canada, visit the Nova Scotia Student Assistance Higher Education Branch at NS student loans. To find out more about Canada NS Grants that you are eligible for visit the Can Learn website.


Related Reading on Student loans in Canada

BC Student Loans

CIBC Student Loan