Financial Help for Canadian Students
- Because much of Canadian student loan money is through provincial support organizations and financial aid opportunities, you must be a citizen or permanent resident of the province in which you apply for financial aid.
In most cases, if you need aid for studying abroad, you must apply through Canadian universities' or colleges' financial aid programs. - Canadian government grants are available to students who need extra help. Students are eligible for national government grants if they are disabled, have children, need an exceptional amount of assistance or are a woman in certain doctoral study programs. These grants usually range from about two to about eight thousand dollars per school year. If students who receive a government grant don't finish the school year, they must pay the money back.
Bursaries are awards from the Canadian government that don't have to be repaid. They are awarded on the basis of academic excellence or remarkable citizenship. - Scholarships are available through private foundations and community organizations based on academic achievement. Organizations in each province or territory can connect students with scholarships that they might be eligible for.
- Students will be responsible for paying back all of the money they borrow for a student loan.
Student loans are available subsidized though the government. Students receive 60 percent of the total amount of the loan up front, and then the rest of the funds are disbursed by local organizations or private lenders.
If you're studying in the United States, you may qualify for an International Student Loan through Sallie Mae. You need a cosigner with good credit to apply, but you can take out a loan for up to the cost of college attendance, minus any other financial aid you receive.
