Posts Tagged ‘student loans in canada’

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

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.

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.

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