FAQs on Government Student Loans in Canada

There are thousands of applicants every year hoping their request for student loans will be granted. But if you don’t know how the process really works, you might find yourself in the waitlist. To guide you with loan application, here are the frequently asked questions about government student loans in Canada:

How do I apply for a government student loan?

To apply, you must obtain an application from your high school, post-secondary institution, or the student financial assistance office of the province or territory where you are a permanent resident of. For this purpose, permanent residency is defined as where you have lived for a minimum of 12 consecutive months prior to being a full-time student at a post-secondary institution.

The filled out application together with any requested documents should be sent to the student financial assistance offices of the province or territory where you permanently reside. All provinces and territories have official websites where you can apply online.

How long is the processing period for government student loans?

Government student loan applications normally takes four to six weeks to be processed by the student financial assistance offices of each territory or province of residence. If you applied online, your application may be processed faster.

How do I qualify for a government student loan?

Your eligibility for a government student loan is dependent on the program and the institution of study. The National Student Loans Service Centre posts a list of designated educational institutions on their website. You can also confirm with the financial assistance offices of your territory or province if your educational institution and/or field of study is eligible.

Will a government student loan cover all my schooling costs?

The amount that you will receive from the government student loan program may not cover all of your schooling costs. The government student loan amount is awarded on the basis of financial need. Assessment of financial need is based on your student category, family size, program type and duration, province of study, tuition, as well as other school expenses, income, parental contributions, and scholarships and other resources.

When should I expect to receive my government student loan?

Disbursements of student loans are normally done at the beginning of your first term and at the beginning of your second term. The first disbursement depends on when you applied.

When shall I be repaying my government student loan?

You will be required to start paying six months after graduating or leaving school. However, you can start paying while still in school, if you wish to.

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