Federal and provincial student loans and grants are provided jointly by the Government of Canada and most provincial and territorial governments. Canadian Student Loans 2023
A student’s basic educational costs are his or her responsibility. You and your family contribute financial resources. Government student financial assistance supplements this. Upon assessing your student loan application, the department determines your financial need.
In order to apply for both federal and provincial student loans, you need only submit one application through your provincial student loan office. Applicants must register for at least nine credits (12 credits in Newfoundland) to qualify for a full-time loan. A part-time student loan is available through the province where you reside if you do not have full-time credit hours. The link below will lead you to your provincial/territorial office for information on eligibility and how to apply.
Processing Your Student Loan
Registration for both fall and winter terms must be complete by August 1 after you have apply for the student loan. Student loans sent to full-time students are directly sent to the Service Center. You will receive confirmation of your course schedule, tuition, and fees for the academic year in early August. Your province can provide information about student loan processing. A similar process is follow during the winter, spring, and summer terms in December, May, and July.
Withdrawing from Courses
If you’re paying back student loans, you may not be able to drop classes. It is advisable to speak with your provincial student aid office before dropping a course in order to avoid issues.
Interest-Free Request (Schedule 2)
If you have taken out student loans in the past, but do not plan to take out student loans this year. You should apply for an interest-free application so that your previous loans are not repaid. These applications are usually required in September.
AB, BC, MB*, NB, NL, NS, PE*, SK, YT How to make interest-free inquiries online (*provincial paper form also required):
Visit the Government of Canada website, please.
Confirm your registration by logging into your NSLSC account
Submit a copy of your registration confirmation
Your application will be sent directly to the university and will be completed by the Service Center. Lender processing may take up to 12 business days and it is the student’s responsibility to confirm with the lender that update information has been receive.
Repaying Your Student Loan
If you have received student loans in the past and plan to return to school in the fall, contact your state student loan office. Otherwise, your student loans will be paid off.
Payback is when you start paying off student loans because you are not attending post-secondary school. This starts 6 months after you leave school. Payments are automatically deduct from your bank account at the end of each month.
If you return to post-secondary college and apply for a full-time fall/winter term loan, your previous student loans will not be repaid.
If you plan to resume full-time studies in the fall and are not receiving student loans, you must submit Form Appendix 2 – Confirmation of Enrollment. Otherwise, the previous loan will be repaid. Processing may take up to 15 business days. Students should contact the National Center for Student Loan Services to ensure Schedule 2 is complete. Canadian Student Loans 2023