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Student Loans and grants

CANADA STUDENT LOANS AND GRANTS

Canada Student Loans and Grants, together with provincial or territorial student assistance programs provide Canadians from low and middle income families the opportunity to pursue post-secondary education.

What’s available in loans?

  • Up to $210 per week in federal loans for full-time students. (Provincial and territorial governments also offer student loan programs.)
  • Up to $10,000 in federal loans for part-time students.
  • Students only need to pay back loans, not grants.

There are eight grants available for students who qualify:

  • Grant for Students from Low-Income Families – $250 per month;
  • Grant for Students from Middle-Income Families – $100 per month;
  • Grant for Students with Permanent Disabilities – $2,000 per loan year;
  • Grant for Services and Equipment for Students with Permanent Disabilities (for exceptional education-related services or equipment) – $8,000 per loan year;
  • Grant for Students with Dependants – $200 per month, per child;
  • Grant for Part-time Students with Dependants – $40 to $60 per week of study per child under 12 years of age;
  • Grant for Part-time Studies – up to $1,200 per loan year;
  • Transition Grant for former Canada Millennium Scholarship Foundation general bursary recipients.
  • Students can use the Student Financial Assistance Estimator on Canlearn.ca to get an idea of how much loan and grant funding they could be eligible to receive.

Students are automatically assessed for grants when they apply and qualify for a Canada Student Loan (a separate application is needed only for the Grant for Services and Equipment for Students with Permanent Disabilities).  Students must apply for a Canada Student Loan through their province or territory of permanent residence.  Click the following link for a full list of Provincial and Territorial Student Financial Assistance Offices.

Visit CanLearn.ca for more information.

REPAYING YOUR STUDENT LOAN

Are you graduating or leaving school?  Then it’s time to take charge of your finances!

Your government student loan(s) may come from the federal government and or your provincial/territorial government.  This means you could have more than one loan to pay back.

The National Student Loan Service Centre (NSLSC) will send your Consolidation Agreement by mail before you are required to start making payments.  The Agreement sets the terms for the repayment of your Canada Student Loan; this is the federal portion of your loan.  You’ll have to make a number of decisions, including the type of interest rate and how long you’ll take to repay your loan.  Depending on your situation, you might also receive another Consolidation Agreement by mail for your provincial or territorial student loan.

You don’t have to make any payments on your student loan(s) for the first six months after you leave school; however, interest will be added to your Canada Student Loan during these six months.

HELPING YOU REPAY YOUR STUDENT LOAN

Missing payments can have serious and long-term consequences.  Contact the NSLSC before you miss a payment.  The federal government can provide you with a number of options, such as the Repayment Assistance Plan (RAP).  Click here for more information on RAP, or visit CanLearn.ca to use the Repayment Assistance Estimator.

STAY CONNECTED

Sign up for an online NSLSC account on CanLearn.ca and ensure that the NSLSC has your up-to-date contact information.

For information on your student loan(s), contact the NSLSC at 1-888-815-4514 (TTY 1-888-815-4556).

For information on your provincial student loan(s), contact your provincial student financial aid office.  For a complete list, see Provincial and Territorial Student Financial Assistance Offices.

Visit CanLearn.ca for more information.