STUDENT LOANS

StudentAid BC helps eligible students with the cost of their post-secondary education through loans, grants, bursaries, scholarships and special programs. It also has programs for borrowers who need help repaying their loans. There are three types of student loans available to new or returning students. Click on the link to open the website: www.studentaidbc.ca or contact a Financial & Academic Planner for full details.

(Click on one of the following options)

           BC Students                                 Out of Province Students

[For BC Students] 

Full-Time Canada Student Loan:

• This loan is subsidized by the federal government.
• Maximum assistance is 60% of total funding required by the student, up to $210 per week of study. 
• You must be enrolled in at least 60% (40% for students with permanent disabilities) of a full-time course load. 
• It is issued in the form of a Schedule 1, also known as a ‘Certificate of Eligibility’. 
• Interest will be paid by the federal government while you are attending school full-time. 
• Repayment, with interest, will begin six months after your studies end.

Full-Time BC Student Loan:

• This loan is subsidized by the provincial government. 
• To be eligible for provincial assistance, you must first be eligible for a Canada Student Loan. 
• It is issued in the form of a master British Columbia Student Loan agreement. 
• Interest will be paid by the provincial government while you are attending school full-time. 
• Repayment, with interest, will begin six months after your studies end. 

British Columbia Student Loans are provided by the provincial government. Canada Student Loans are provided by the federal government. When you apply for one loan, you will automatically be applying for the other loan as part of the same application form. Although there is a single application process for both types of loans, each government addresses repayment issues and inquiries separately.

Application deadlines:
The latest you can apply for full-time student loans is six weeks before your study program ends as long you have provided all the required documentation. You do not have to be accepted into your study program before applying for student assistance, but you will not receive any money until your school confirms you are enrolled in full-time study and your study period has begun.

Part-Time Canada Student Loan: 

If you are studying part-time at NVIT and your family income falls below a set limit, you may be eligible for the federal part-time student loan program.

• Need assessment for part-time students is different than for full-time students. 
• The Part-Time Canada Student Loan pays for tuition, books, supplies, transportation and child care. 
• The Part-Time Canada Student Loan does not cover living costs. 
• Your family income must be below the amounts shown on the following chart.
  

Application deadlines:
The latest you can apply for Part-Time Canada Student Loans is eight weeks before your study period ends. You must be accepted and enrolled into your study program before applying for part-time assistance.

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[For Out of Province Students]

If you are a student attending NVIT, but have resided in another province six months prior to starting classes, you must fill in a student loan package from your home province. Here are some links to other Canadian Financial Aid Programs throughout Canada.

Click on the province where you live:

Alberta

Nunavut (The NWT provides services for Nunavut)

Manitoba

Ontario

New Brunswick

Prince Edward Island

Newfoundland

Quebec

Northwest Territories

Saskatchewan

 

Nova Scotia

Yukon Territory

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