Student Loans Canada -
A loan is a type of debt. Like
all debts, a loan entails the redistribution of financial
assets over time, between the lender and the borrower. The
borrower initially receives an amount of money from the
lender, which they pay back. This service is generally
provided at a cost, referred to as ‘interest’.
Student Loans are ‘loans’ that
are offered to students to assist in the payment of their
costs of professional education. Luckily, these loans carry
lower interest rates than other loans and are issued by the
For example; Canadian
students are normally eligible for loans provided by the
federal government, in addition to loans they receive by
their province of residence. The loans are generally
interest free, until one graduates and are sometimes
supplemented with grants, depending on need.
Students that are looking
to get a student loan must apply for the Canadian and
provincial loans through their province of residence. The
rule for what determines your ‘province of residence’
varies, but generally the territory or province of residence
is defined as ‘where you have lived most recently for at
least 12 consecutive months, not including any time you
spent as a full-time student at a post-secondary
institution’. Basically this means, the province of
residence is normally the province you lived before you were
“The Canada Student Loans (CSL)
provides for a maximum of $165 per week of full-time study,
and more money from their province of residence. All
Canadian students may also be eligible for the Canada
Millennium Scholarship Foundation Bursary (CMS Grant), and
other grants provided by their province of residence.
StudentLoansCanada.net is a
site that has built to help students just like you find free
information on Student Loans. If you have no idea where to
begin and are looking at getting a loan for your schooling
our site can give you the knowledge and tools you need to
make the right choice.
Feel free to browse through
our informational articles..
Thank you, and enjoy our site!