The provincial and federal governments of Canada offer loans to post-secondary students who demonstrate financial need.
They also offer grants that, unlike loans, don’t need to be paid back once you finish your studies. When you apply for a Canada Student Loan, you’re automatically considered for most of these grants.
If you’re thinking of applying for student loans, explore the information available on the Government of Canada’s website to learn more.
Information to have handy as you apply for a student loan:
- Ambrose institutional code: BPSV
- Social Insurance Number (SIN)
- Most recent income tax information (you can find this on Line 150 of your last tax return)
- Resources (scholarship amounts, savings, etc.)
- Living expenses estimate
- Use the Budget Calculator to determine your tuition and fees for the school year
* Keep all documentation and receipts marked and readily available. If you’re ever selected for an audit, you’ll be glad to have these documents handy.
Maintaining Interest-Free Status
If you have a previous student loan and you’re not applying for another loan for the upcoming year, you need to fill out the necessary documentation that states you are still a full-time student. Otherwise, you’ll be required to start repaying your loans and your interest will begin to add up.