Getting a Student Loan
Student loans are a great help if you need some financial assistance to get through school. But they're meant to give you a helping hand, not to pay for your entire post secondary education. You are still expected to contribute some money.
In Canada, there are 2 main categories of government student loan programs.
1. The federal program, called the Canada Student Loans Program (for full-time and part-time students).
2. Provincial and territorial programs. In 5 provinces, provincial-federal loans programs are integrated. You apply to only 1 place (your definition of province of residence ). As well, your loan management and repayment will be through the National Student Loans Service Centre. The 5 provinces offering integrated student loans are:
- Ontario Integrated Student Loan Program
- Saskatchewan Integrated Student Loan Program
- Newfoundland and Labrador Integrated Student Loan Program
- New Brunswick Integrated Student Loan Program, and
- British Columbia Integrated Student Loan Program.
Note for BC residents: British Columbia student loan borrowers who are currently in repayment will continue to make separate payments to the NSLSC and BC Student Loan Service Bureau until July 2012 when their federal and provincial loans are integrated (Read more on student loan integration) at the NSLSC.
All remaining provinces and territories, with the exception of Yukon, offer stand-alone loans programs. You apply to one place to receive your student financial assistance, but will receive and manage two separate loans. To learn more about the program(s) that you could apply for, go to the Web site of the Student Assistance Office of your province or territory of residence.
Search the following pages for more details about government student loans.