Canada Student Loan

Canada student loans differ a bit from the well known educational loans in the United States. Canada has two basic sources: the Canadian Federal government and the Provincial governments. If a scholar resides in one of the Providences of Canada they may only apply to the provincial government. The rest of the country needs to apply to the Canadian Federal government. More information and detailed application procedures can be found through financial aid offices or through a local library.

Like any educational financing program, a person has to meet the eligibility requirements. They do have Canada student loans for part time attendance also. If someone is attending a Canadian University and carrying 20 to 50% of a full case load, they are eligible for a Canada student loan. For a full time options, he or she needs to carry at least 60% of a full time course load. Philippians 4:13 states I can do all things through Christ which strengthen me. This is important when looking at financing an education especially during tough semesters. God likes it when His people have endurance and faith in His plan for their life. Keep strong focus in any schooling venture.

The CSLP pays out a maximum of $165 a week towards schooling, and needs to show that the scholar cannot cover the costs without the loan. If seeking financing from one of the provincial governments, they boast, "if you need it- you get it." Certain provinces like Saskatchewan, offer a full page of online sources. In Ontario, if someone has a Canada student loan, they need to make the interest payments while in school. They offer their Canada student loan to full time students, while in school, where the Canadian government pays the interest that accumulates. With either of the programs, a student doesn't need to begin to repay the Canada student loan until six months after leaving school. Both types a students are required to be a Canadian citizen or permanent resident.

Similar to any other financial aid program, there is detailed information online to help plan and finance education and learning in Canada. Canadian student loan programs are also available in French. Financial planner calculators are also available online to assist in determining how much it will cost. There are many, "one stop" information centers for information about Canada student loans and other post secondary information, such as college and university listings.


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