Canada Student Loans are the main source of funding for most Canadian University students. This is a loan from the Government of Canada to assist students to pay for Universities, Trade Institutions, and Colleges. Firstly, your Canada Student Loan varies from province to province. For Ontario, Saskatchewan, Newfoundland & Labrador, New Brunswick, and British
For all other provinces (excluding Yukon and the 5 listed above) you will apply for one loan but manage two. This is because Canada Student Loans are funded by the Federal Government and the Provincial Government, with a 60%/40% contribution. However, you have to pay the Federal government back for their portion and the Provincial Government for their contribution.