goverment loan
govervment loan
by rameshwor
Canadian students are normally eligible for loans provided by the federal government, through the Canada Student Loans Program, in addition to loans provided by their province of residence. Loans issued to full-time students are interest free while a student is in full-time studies. Part-time students must make interest payments while in study and begin payments of principal and interest when they cease to be a part-time student. Grants may supplement loans to aid students that face particular barriers to accessing post-secondary education, such as students with a permanent disability or students from low-income families.
Students must apply for the Canadian and provincial loans through their province of residence. The rules for what determines your province of residence vary, but normally the province or territory of residence is defined as where you have most recently lived for at least 12 consecutive months, not including any time you spent as a full-time student at a post-secondary institution. In most cases, the province of residence is the province one lived in before they become a post-secondary student.
Canada Student Loans (CSL) of up to $210 per week of full-time study or 60% of the student's assessed need (the lesser of these) can be issued per loan year (August 1 to July 31). Loans issued through provincial programs will normally provide students with enough funding to cover the balance of their assessed need. Part-time loans of up to $4,000 can be made but a student can not be more than $4,000 in debt on part-time loans at any one time. All Canadian students may also be eligible for the Canada Millennium Scholarship Foundation Bursary (CMS Grant), and other grants provided by their province of residence.
For example, students in British Columbia may be eligible for a maximum of $14,300 combined loan and grant funding per year.
by rameshwor
Canadian students are normally eligible for loans provided by the federal government, through the Canada Student Loans Program, in addition to loans provided by their province of residence. Loans issued to full-time students are interest free while a student is in full-time studies. Part-time students must make interest payments while in study and begin payments of principal and interest when they cease to be a part-time student. Grants may supplement loans to aid students that face particular barriers to accessing post-secondary education, such as students with a permanent disability or students from low-income families.
Students must apply for the Canadian and provincial loans through their province of residence. The rules for what determines your province of residence vary, but normally the province or territory of residence is defined as where you have most recently lived for at least 12 consecutive months, not including any time you spent as a full-time student at a post-secondary institution. In most cases, the province of residence is the province one lived in before they become a post-secondary student.
Canada Student Loans (CSL) of up to $210 per week of full-time study or 60% of the student's assessed need (the lesser of these) can be issued per loan year (August 1 to July 31). Loans issued through provincial programs will normally provide students with enough funding to cover the balance of their assessed need. Part-time loans of up to $4,000 can be made but a student can not be more than $4,000 in debt on part-time loans at any one time. All Canadian students may also be eligible for the Canada Millennium Scholarship Foundation Bursary (CMS Grant), and other grants provided by their province of residence.
For example, students in British Columbia may be eligible for a maximum of $14,300 combined loan and grant funding per year.
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