Federal Student Loans and Grants
Currently, the federal government offers the following financial aid funding options:
- The Canadian Student Loan Program Full-Time/Part-Time Students (CSL)
- The Canada Student Grant for Full-Time/Part-Time Students (CSG-FT & CSG-PT)
- The Canada Student Grant for Students with Dependents (CSG-DEP)
- The Canada Student Grant for Students with Permanent Disabilities (CSG-PD)
- The Canada Student Grant for Services and Equipment for Students with Permanent Disabilities (CSG-PDSE)
- The Skills Top-Up to the Canada Student Grant for Full-Time Students
To apply for these programs, you simply complete your provincial application. This application will be reviewed by your provincial and federal government. For more information, visit the National Student Loans Service Centre website.
In light of COVID-19, the federal government has made positive adjustments to the loan program that will help increase the value of your federal loans and grants you may qualify.
- Removal of the expected student's and spouse's contributions in 2020-21, in recognition that many students and families will struggle to save for school this year.
- Students grants: double the Canada Student Grants for all eligible full-time students (up to $6,000) and part-time students (up to $3,600) in 2020-21. The Canada Student Grants for Students with Permanent Disabilities and Students with Dependents would also be doubled.
- Student loans: raising the maximum weekly amount of the Canada Student Loans Program that can be provided to a student in 2020-21 from $210 to $350.
- Increase existing distinction-based support for First Nations, Inuit, and Metis Nation students pursuing post-secondary education by providing an additional $75.2 million in 2020-21.
- Six-month moratorium on Student Loan Payment and Interest - New Brunswick Student Loan repayment requirements will be suspended between March 31-September 30, 2020.
Provincial/Territorial Student Loans and Grants
Individual provinces and territories also offer financial support for your educational costs via loan and grant programs. Available programs can very by province and territory, therefore we strongly encourage you to visit your province of residence website to learn more about their program offerings for the upcoming 2020-21 academic year.
Student loan information by province/territory:
Due to COVID-19, repayment of loans has been suspended in some jurisdictions.
- Students who had their loans issued by NL, NB, ON, SK, or BC have suspension on both the provincial and federal parts of their loans
- Students who had their loans issued by PEI, NS, AB, or MB only have the federal portion of their loan suspended; however, it is worth looking into whether your provincial or territorial government has made new statements on student loan suspensions in the coming weeks.
Loan applications in most provinces are posted in late May or early June. Students should complete their loan application well in advance of the start of the academic year to allow adequate time for their application to be processed (four to eight weeks).
Provincial loan applications are automatically considered for the federal Canada Student Loan program. Only one application form is needed. Many provinces offer bursaries or grants for students demonstrating high need and applicants are automatically considered for these programs.
In order to qualify for a federal or provincial student loan, students:
- must be Canadian citizens or permanent residents
- must apply to their home province for funding (must be a resident of the province/territory to which they are applying for funding and have lived there for the past 12 consecutive months excluding full-time attendance at a post-secondary institution)
- must demonstrate financial need
Your parent(s)’s or spouse/partner’s income tax information may be required as part of the application process.
After a student's application is received, a notice of assessment will be mailed outlining the available funding. Students are strongly encouraged to familiarize themselves with how their student loan will be disbursed and if any additional documentation is required prior to funds being allocated.
New Brunswick students
Currently the Province of New Brunswick offers the following funding options in conjunction with the federal programs:
- Renewed Tuition Bursary Program (RTB)
- New Brunswick Bursary (NBB)
- New Brunswick Student Loans
Nova Scotia students
Currently the Province of Nova Scotia offers the following funding options in conjunction with the federal programs:
- Nova Scotia Student Loan
- Nova Scotia Student Grant
- Supplemental Loan for Medicine, Law, and Dentistry
The internet has become the primary source of information on student loans. For Canadian students, the Government of Canada's CanLearn site is a useful resource.
The financial aid and awards counsellor is also available to discuss your funding options at email@example.com