Canadian Student Loans

You can apply for student loans from the provincial government in your home province. You may also wish to inquire at your personal bank about a student line of credit.

Government student loans do not accumulate interest between years of study (providing the break is less than six months). You do not need to repay them until after you've completed your program.

If you have Canadian student loans from previous years and you Checkare continuing with full-time* studies but are not applying for a new loan, you must inform your loan providers that you are doing so by filling out a Schedule 2 form. This will ensure that your loans do not go into repayment. You can find the form on canlearn.ca (only print one page), complete your portion and bring it to Academic Services to be completed in early September or January.

* Eligibilty for full-time loans requires a minimum 60% course load: nine credit hours per semester or more in the college or six credit hours per semester or more in the seminary.

Banks charge interest on the amount borrowed; specifics differ between banks. Please inquire with your personal lending institution.

If you will be using student loans to pay for your education, The Student Loan payment plan is for you. To use this plan, you must have loan approval and confirmation of loan funds by September 30 for the first semester and January 30 for the second semester. If your student loan is not confirmed by these dates, you must be prepared to enter one of the other payment plans available. If your student loan is not enough to cover all of your costs for each semester, you will be expected to make payment arrangements for the difference with post-dated cheques, by credit card, or by pre-authorized debit.

Why get a student loan?

You can use a student loan to help pay for tuition, books, room and board, and personal expenses. If you are eligible, Canada student loans are the best kind because interest does not accumulate while you are attending school. Provincial student loans are also available for Canadian residents. Visit www.canlearn.ca for more information.

When to apply

If you want student loan money by the beginning of the school year, you must apply by June 15. You can still apply after that (you have until 45 days prior to the end of the school year), but your loan could be prorated, which would result in less funding.

Student loan centres take six to eight weeks to process your application if there are no errors or omissions.

How to apply

Student loan applications are posted in June of each year for the academic year starting in September. You can apply online at the addresses listed below:

Alberta http://studentaid.alberta.ca/
British Columbia http://studentaidbc.ca/
Manitoba www.studentaid.gov.mb.ca
New Brunswick www.studentaid.gnb.ca
Nova Scotia www.studentloans.ednet.ns.ca
Newfoundland www.edu.gov.nf.ca/studentaid
Ontario osap.gov.on.ca
Saskatchewan http://www.aeei.gov.sk.ca/student-loans
Quebec www.afe.gouv.qc.ca

Some process information

Once you complete your application, the student finance office at Briercrest will need to provide program information. Some provinces request the information from us electronically, but a number require the students to make the request of their school (SK, ON, NB, NS, PEI, NF, and QC). The quicker this is done, the more likely it is that your loan will arrive in time for the start of the academic year.

When you receive your notice of assessment telling you how much funding the government is offering, you will be required to complete the Master Student Financial Assistance Agreement (MSFAA). By signing the MSFAA, you agree to accept responsibility for all funding you receive from that date forward, so you will not have to sign another agreement for future loan assistance. This should be done prior to arriving at school in September. Further information can be found on your provincial website.

Frequently asked questions

Q. Where can I get an estimate telling me how much I could be eligible to receive?
A. Please go to www.canlearn.ca for the student loan calculator.

Q. What is your school code?
A. Canada (except Quebec): CPAC
Quebec: 07-372A

Note: In Canada, you must use "Briercrest College and Seminary" for the name of the institution.

Q. The program name listed on my student loan confirmation document is different than the one I submitted. What should I do?

A. This should not cause any problems. Just make sure Briercrest College and Seminary is aware of the program in which you are enroling.

Q. What if I got my student loan document back and the amount filled in for tuition is wrong? It does not include my dorm fees or it is too high.
A. Dorm fees cannot be included with tuition charges. The amount filled in is based on the average of 16 credit hours per semester.

If you have questions about putting together your finances for school, contact the student financial adviser.