Canada Student Loan Program
When considering what best Canada student loan program Canadian students should look into, getting it right the first time around will save you from redoing things over. If you are planning to attend college, the chances are very good that you will need some level of financial assistance to help pay for it. This is often even true for those who have college savings. If you plan on securing a Canadian student loan, there are things that you need to do before applying for the Canada Student Loan Program.
Scholarships before a Canada Student Loan Program
The first thing that you should do is to apply for any scholarships that you may be eligible for before any Canadian student loan program. Check with private foundations, community service organizations, corporations, and small businesses. Consider all of your talents and your academic standing when you are searching for potential scholarship opportunities, and don’t forget to include scholarships that are awarded based on physical characteristics, your heritage, illnesses, or other factors. Scholarships, of course, do not have to be repaid.
Bursaries before a Canada Student Loan Program
The next step is to look into Bursaries. Bursaries are essentially scholarships that are awarded by the Federal Government of Canada, but some provinces or territories also have Bursaries available. These do not have to be repaid, and they are awarded based on academic need, but a show of outstanding citizenship will also help you to win these awards.
Canada Federal Grants before a Canadian Student Loan Program
Following Bursaries, you should look into federal grants, as well as grants that are only offered in your province or territory. Grants are available to those who are permanently disabled, those who have children, and those who have financial need. Additionally, if you are a woman and you are working towards a doctorate degree, you will also be eligible for grants. Grants, like scholarships and Bursaries, do not have to be repaid. This amounts to anywhere from $2000 to $8000 per academic year in free funds to help pay for your education.
Canada Work/Study Jobs before Student Loan Program from Canada
Another option for financing your education in Canada is Work/Study Jobs. These jobs are available through your college or university, and it is essentially a part time job. This work/study program helps to fund your education, which will significantly reduce the amount that you might owe in student loans when you finish school. Work/Study jobs get snapped up fairly quick, and there are a limited number of jobs. Make sure that you apply for the work/study program through your school as soon as possible.
Federal Government Canada Student Loans
The final option is to apply for Canada student loan programs. You need to apply for loans that are available from the Federal Government in Canada, as well as the Government of your providence or territory. In providences or territories where it is possible to obtain both types of loans, one application takes care of everything. These are the least expensive Canadian student loans that you can get, but if you need more funds to pay for your education, you can additionally apply for Canada student loans through private financial institutions as well.
For more information regarding how to pay for your college education in Canada go to: Canada student loan. You also need to visit the Canada student loan service center for your providence or territory to make sure that you are getting all of the aid that you are eligible for.
Related Reading
BC Student Loans for British Columbia Students
CIBC Student Loan Program
NSLSC (National Student Loan Service Centre)
OSAP Ontario Student Loans
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