Canada Student Loans
Canada Student Loans was created by Canada government in year of 1964. The objective is of the loan is to help student who need financial assistance to access secondary education or further education.
It's available for full time and part time students. The following conditions must be meet in order to qualified for the loans :-
1) Must proof that you are in financial need to get the loan. Such income of parent not sufficient for education costs, jobless, parent suffered critical illness and etc.
2) Must be a Canadian citizen, permanent resident and designated protected person. Foreigner is not entitle for the loan.
3) Enrollment for a degree, diploma or certificate courses with duration at least 12 weeks. For designated post secondary institution duration is 15 weeks.
4) Must maintain the high scholastic standard.
5) Be the citizen or permanent resident that under province or states where issue these loans.
Advantages of these loans
1) No closing fees
2) Flexible repayment scheme
3) Competitive interest rate
4) Acceptable by thousand of approved schools.
The interest rate of the loan is generally lower than any other private loans. Thus, it is the 1st. choice for Canada Student. A lot of them will get private loans after fully utilized this loan. Beside education, there are still other expenses such transportation, living costs, books and etc.
Repayment will begin after graduation of student, student will still have 6 months grace period before the repayment start. The purpose of grace period is to allow student to get prepare and searching for a job.
Be reminded that make your repayment on time, do not defer the repayment. Otherwise it will drag down your credit rating, you will lost your privilege when you looking for other loans.
For more information about these loans, please check out
Canada Student' Loan
For other student loans, please visit
Student Loans instead of Canada Student Loans
Return to Loan-God Home Page
Return to top of the page