Canada student loans are fully interest-free while you are a full-time student and you are automatically considered for additional grant funding when you apply. Eligibility for grant funding is determined by your family income. After you graduate you have 6 months before repayment begins and if the payments are beyond your means the government will work with you through the Repayment Assistance Plan to come up with a payment plan that works for you.  While you are registered in full-time studies you are not required to make payments on you loan and the government pays the interest during this time.


If you are Canadian you can apply for federal and provincial loans. To receive a loan, you need to take at least 60% (9 semester hours) of a full-time course load.  Dropping below the 60% threshold can cause you to lose your funding and begin repayment.

How To Apply

You apply directly through your provincial loan office in your home province. Applications are available online and considers you for both provincial and federal loans as well as grants. If you are a Canadian living abroad, apply through the province you last lived in Canada. Applications open on June 1st.  We strongly encourage you to apply for student loans before June 30 to ensure funds are available in September.


Your funding will be disbursed to your personal bank account approximately 5 business days after classes begin. If you have not given your bank account information to your loan provider, then your funding will be sent by cheque in the mail. Loan funding is typically disbursed 60% in the fall semester and 40% in the spring semesters. This means you will receive a significantly larger disbursement of loan funding in the fall semester and it is essential to make note of this for budgeting purposes.