The Canada Student Loans Program is the largest program offering student financial assistance to Canadians.
It was created by the Government of Canada to make postsecondary education accessible to students with financial need.
Jurisdisctions participating in Canada Student Loans Program include all province and territories except Québec, the Northwest Territories and Nunavut (non-participating jurisdictions operate their own financial assistance programs and receive alternative funding from the federal government).
Canada Student Loans are available for full-time and part-time study at designated schools (including certain postsecondary institutions outside of Canada).
You must meet all of the following conditions in order to qualify: The amount of funding available through the Canada Student Loans Program is calculated on the basis of assessed financial need.
Assessed need is the difference between allowable educational costs and the amount you are expected to contribute based on available financial resources.
There is no maximum time limit of assistance for part-time students.
The federal and provincial governments work together to provide loans to students with financial need.
You must apply through the student financial assistance office of your province or territory of permanent residence.
For full-time students, the Canada Student Loans Program provides 60% of the assessed need, up to 0 per week of study; the remaining 40% may be provided through the provincial student loans program.
You can receive Canada Student Loans for the number of years in your academic program, plus one extra year if needed to complete the program.
There is a maximum lifetime limit of 340 weeks of assistance for full time students (extended by an additional 60 weeks for students enrolled in doctoral studies).
Part-time students can receive up to ,000 (in combined principal and interest) in Canada Student Loans over the period of studies.