Canada Student Loans and How To Get One
Chapter 2: Financing your Canadian University Education admin 0
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
Columbia the Canada Student Loans are integrated which means you get one loan and it is managed and repaid to the National Student Loan Services Centre (NSLSC).
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.