Interest-free while you are going to school full-time. Interest starts to accumulate as soon as you stop going to school full-time. Payments start six months after you stop going to school full-time.
If you are a Canadian citizen or national you can choose to fund your studies in different ways. Planning to meet the costs of attending university is an investment in the future, and there are a number of options you should consider when planning to fund your studies, including:. The Canadian Government, its provinces and territories offer student loans to eligible students studying at overseas universities.
Mature students who return to education have much more complex financial lives, experts say, and determining how to pay thousands of dollars in tuition, books and other expenses can be tricky. But with proper planning, a university degree can offer a good return on investment. Money coach Melanie Buffel, who returned to complete her MBA as a single mom more than 20 years after finishing her last degree, says adults must plan carefully before returning to school as a mature student.
There are many programs available that can help with the cost of post-secondary education. The table below is a list of available grants, scholarships and other non-repayable financial supports. Click each program for more information. Contact information.
From Employment and Social Development Canada. The Canada Student Loans Program provides repayable loans and non-repayable grants to help Canadian students pay for their post-secondary education. Federal loans and grants are delivered in partnership with participating provinces and territories and are available to:.
Post-secondary education can be expensive. Education is an investment in your future that you need to plan for. Outline your income, such as earnings and help from family, and your expected expenses.
This book has details on:. You can get a copy of a course calendar through the admissions office at a college or university. You can also contact the nearest Canadian diplomatic mission for more information.
If you are studying in Canada using a study permit if you are an international studentyou are not eligible for OSAP. However, you might be eligible for financial assistance from your college or university. You may also be eligible if your spouse or parent s meet certain residency requirements. You may have to provide a detailed explanation in your History of Canadian Residency form and submit the required documents that support your residency.
Remember, student aid is meant to supplement, not replace, your own resources. A student loan may not cover all your costs and you will be responsible for making up the difference. Your eligibility for full-time funding for the semester in which you applied will be reassessed.