Financial Aid for Canadian Students
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Financial Aid for Canadian Students
Financial aid for Canadian students is provided through loans, grants, and scholarships.
Canada Student Loans Program
The Canada Student Loans Program offers financial aid for both full-time and part-time Canadian students. The eligibility conditions for full-time study loans are as follows.You must -
- be a citizen of or permanent resident in Canada
- be resident in a location that participates in the loan program
- submit an application form showing that you do not have the resources to complete your education without financial assistance
- enroll on a minimum of 60% of an approved college program (40% if you are permanently disabled).
- enroll on a college program to earn a degree, diploma, or certification.
Your loan amount is a maximum of $165 per study week. Interest is due on the loan but you do not start making repayments until six months after you complete your studies
Canada Study Grants are awarded in cases of special need, such as disability. They are administered within the loans program, but they do not have to be repaid.
Canada Millennium Scholarships
These scholarships provide a recent addition to sources of financial aid for Canadian students. They are available to undergraduate students and the eligibility conditions are similar to those applying to the Canada Student Loans Program.There are two kinds of scholarship
- General Awards – granted to students who have shown academic ability and can demonstrate financial need.
- Exceptional Merit Awards – granted to students who have shown exceptional ability. These awards do not require you to show financial need.
