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How to get a Student Loan
by
Diane MacKenzie

BC Student Assistance Program

The BC Student Loans is a joint program between the Federal and Provincial governments.  To be eligible, a student must be in good standing with and be eligible for Canada Student loans to receive assistance.

Students who are interested in receiving a Student Loan must be aware that a Student Loan is assistance only.  The joint program's basic principle is that the student or their parents are responsible for post-secondary education costs.  The program will supplement, not replace funds.   The amount an individual is eligible for is based on need as defined by a moderate standard of living, basic education costs, income, and resources such as savings and assets.

To qualify to be considered for a Student Loan, you must:

• be a Canadian citizen or landed immigrant
• have a valid Social Insurance number
• be a resident of British Columbia
• as your primary occupation, be a full-time student
• not be in default on any previous student loan
• demonstrate financial need
• maintain a 60% course load at all times in a program more than 12 weeks in length
• attain satisfactory scholastic standing
• attend a provincially designated school

After you have received a Student Loan, your file may be audited, and if so, you must provide documentation for the information you supplied with your application.  Your loan will be negotiated by you with a designated bank or credit union.  The school you are attending must verify your attendance and it is your responsibility to initiate repayment of your interest-free loan six months after you have completed your studies.

Students without dependant children may receive up to a maximum of $260 per week; with dependant children the maximum is $385 per week.   Not all students receive the maximum award -- Be aware that you may have to seek additional funding.

The school you wish to attend will have application forms for you and will provide a knowledgeable staff member to assist you in filling it out. 

This is a general outline for your information and does not contain all the information you may need.  Please contact the school of your choice for verification of all aspects of obtaining a Student Loan Application or call the toll-free telephone number for Student Financial Assistance (24hrs)

1-800-561-1818

Diane MacKenzie is owner of
The Computer Learning Centre