General Information

Deadlines for Applying for BC Student Assistance

Recommended Early Deadline: July 15 (if funds required by September)

Final Deadline: six weeks prior to end of period of study.

Student Loan Documents

Canada Student Loan (Schedule 1) documents must be submitted to a designated post office. Grant cheques and student loan documents will be mailed to your most current address as per the Ministry files.

For Further Information

Canada Student Loans, Web site: www.canlearn.ca, Phone: National Student Loans Service Centre (1-888-815-4514).

BC Student Loans Service Bureau, Web site: www.bcslservicebureau.com, Phone: (1-877-535-7680)

Student Loan Funding Split

British Columbia issues 60% of the award at the start of classes and 40% at the mid-point of the study period. This should help students to budget for the entire educational period.

Student Loan Repayment

Students are advised to check the loan repayment information available from the Financial Aid & Awards Office.

Canada Student Loans

Interest during the six months following completion of studies is charged at the rate of prime plus 2.5%. From the first day of the seventh month (when repayment must start), students have a choice of terms:

•   a fixed interest rate of prime plus 5%

•   a floating interest rate of prime plus 2.5%

BC Student Loans

• Interest on any outstanding student loans begins to accumulate immediately following the study period end date on the most recent document. There is no interest free period.
• If the student returns for further study within the six month period between the study end date and the expected date of repayment and notifies the BC Student Loan Service Bureau (BCSLSB), accumulated interest will be paid by the government directly to the BCSLSB.