To help students fund their studies this Fall and/or Winter, the Government of Canada has:
- provided emergency funding through the Canada Emergency Response Benefit (CERB), Canada Emergency Student Benefit (CESB), and related programs.
- doubled Canada Student Grants for full-time students to up to $6,000 and up to $3,600 for part-time students in 2020-21 only. The Canada Student Grants for Students with Permanent Disabilities and Students with Dependents will also be doubled.
- for the 2020-2021 school year only, students will not be required to make their fixed student contribution; no spousal contribution would be required either.
- for the 2020-2021 school year only, the Canada Student Loan weekly loan limit will increase from $210 to $350 (therefore up to an additional $4,760 over last year for an 8-month period).
For further details, see StudentAid BC.
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 with interest 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
- 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
- An interest relief safety net is available if you encounter financial hardship during repayment.
Do you have an approved government student loan?
If your student loan is approved before the start of classes, a portion of your loan will be paid directly to TRU. The portion paid to TRU will be automatically deducted and applied to your student account, paying all or some of your balance owing for the semester.
If you have an approved student loan, do not pay your tuition until the portion of your loan directed to TRU has been applied to your student account.
- The loan amount directed to TRU is based on your total balance due to TRU, as shown on myTRU, as of one week before your classes start.
- Once the loan has been applied to your account, it is your responsibility to pay outstanding tuition and fees (if any) before your specific fee payment deadline.
- Adding classes during the add/drop period will impact your student account balance and will not be paid by your student loan.