Government Financial Aid
In Canada, student financial assistance is available from the federal and provincial/territorial governments. Your application would be made through the province in which you are considered a resident.
There are two main forms of government assistance available: loans and grants. Student loans must be paid back but in most cases the grants do not need to be repaid.
Benefits of government student assistance
- No interest while you are a full-time student, and for federal loans and some provinces including BC, no interest is charged during repayment either!
- No payments required while you are a full-time student
- No co-signer or collateral required
- A portion of your loan may be forgiven
- Applying for a provincial loan initiates the process by which your eligibility is evaluated for grants
- A payment relief safety net is available if you encounter financial hardship during repayment.
