Canada Student Loans Program

The basic principle of the Canada Student Loan Program is that the responsibility for the costs of post-secondary education rests primarily with the student and his/her spouse or parents (where applicable). You must apply for the assistance every year.

One of the responsibilities as a student signing a Certificate of Eligibility is to pay it back in the prescribed time.

How Am I Categorized For A Student Loan?

You are considered to be a Single Dependent Student unless you meet one of the other categories as explained below. Single dependent students are considered to be financially dependent on their parent, guardian, sponsor or other supporting relative.

You are a Single Independent Student if you have been out of high school for four years; or, if you have been in the labour force full-time for two twelve consecutive month periods; or, you have no parent, guardian, sponsor, or supporting relative; or you were previously identified as a married or single parent student.

You are a Married Student if you are either married, or in a common-law relationship (residing together for at least one year).

You are a Single Parent Student if you have separated, divorced, widowed or never married; and you have legal, physical custody and responsibility for supporting a child(ren).

Are There Any Conditions To Be Met?

To apply for this loan:

 • You must be a Canadian citizen or permanent resident
    or protected person of a province or territory that
    issues Canada Student Loans;
 • You must demonstrate financial need;
 • Be enrolled in at least 60% of full post-secondary course
    load (students with permanent disabilities enroll in at
    least 40% of full course load)
 • Your course has to be at least 12 weeks long within
    a time frame of 15 consecutive weeks;
 • You have to be attending an approved institution;
 • Your course must be leading towards a degree, diploma,
    or certificate;
 • You must maintain a satisfactory scholastic standing;
 • You can not receive Canada Student Loan funding from
    another Province or Territory.

What Must Accompany My Loan Application?

There may be several documents that you must submit with your application. Please refer to the summary listed in the application form and ensure that any of the documents that apply to you are attached or have been requested to be submitted to our Department.

Canada Student Loans Application for Full Time Students  (PDF)

Canada Student Loans Application for Part Time Students  (PDF)

These forms are provided on-line in PDF format. Help on viewing PDF files is available. Paper forms are available from the Student Financial Assistance office.

Is There A Deadline Date For Applications?

No, students may apply at any time during the year, however, your loan must be negotiated prior to your course end date.

How Do I Find Out If My Application Is Approved?

Once your application has been approved, a Certificate of Eligibility will be mailed to you.

How Much Will I Receive?

You are allowed 60% of your assessed need to a maximum of $210 per week of your program. You are responsible for funding the remainder of your costs as the Canada Student Loans Program will only supplement students' resources, where needed. The costs of post-secondary study include both education and living costs, based on a moderate standard of living. Students are expected to draw from their resources, which include financial and vehicle assets, to meet the assessed costs and their expected contribution.

When Will I Get My Money?

CSL Certification of Eligibility is done in one disbursement. Once you receive your Certificate of Eligibility, you must take it to the admissions office of the institution you are attending to fill out the Confirmation of Enrolment section. Instructions included in your package will indicate how to receive your money.

What Happens If My Situation Changes From The Date Of My Original Assessment?

If your situation changes, you should inform us as soon as possible. At that time the Department will do a review of your original assessment. If we determine that you are eligible for additional funding, we will issue an additional certificate (minimum $250). If your need is decreased, you will be assessed an overaward which will be used as a resource against your next loan application.

How Many Years Can I Receive A Loan?

To continue to be eligible for a full-time Canada Student Loan in subsequent years:

• Your previous loan must be audited to ensure that the amount of Canada Student Loan issued was not in excess of what you were entitled to. This is done by providing a copy of your income tax return for the year in which you last received assistance. If it has been determined that you have an overaward from a previous loan it will be deducted from any subsequent loan(s);
• You must successfully complete at least 60% of a full-time post-secondary course load for which you have received a Canada Student Loan;
• You can't receive assistance for more than 520 weeks of study (if you received your first student loan before August 1, 1995) under the Canada Student Loans Act, or for more than 340 weeks of study (if you received your first loan on or after August 1, 1995) under the Canada Student Financial Assistance Act. Students enrolled in doctoral programs are eligible for up to 400 weeks of assistance;
• You must complete the program within the number of periods of study normally specified by the school for completion of that program, plus an additional period. For example, for a program which normally takes four years to complete, loans may be available for the first four years of the program, plus one extra year; and
• You can't have been denied further assistance for reasons such as failing to make payments on your Canada Student Loan for 60 days or more, or because your previous student loan was included in bankruptcy proceedings.

When Does The Loan Have To Be Paid Back?

Students must start paying back their loans 6 months after completion of their program of studies. It is your responsibility to contact the financial service provider within this 6 months to arrange repayment, otherwise you will default on your loan.

• For students attending public institutions (888)815-4514
• For students attending private institutions (866)587-7452

Do I Pay Interest On My Loan?

Yes interest starts to accrue the month after you are finished your program of studies. For example, if you are taking a 2 year diploma program interest will start to accrue the month after you finish the second year of your program.

What Is The Interest Rate?

Students must choose either of the following:

• A maximum fixed interest rate equal to the financial institution's prevailing unsecured consumer loan rate, not to exceed prime + 5%, or
• A maximum floating interest rate of prime +2.5%.

Students are also responsible for interest payments during the 6 month period following completion of studies.

What If I Can't Make Payments?

If you are having trouble finding employment or find it difficult to repay your Canada Student Loan because of financial hardships, the Government of Canada can help.  The following debt management measures have been designed to make repaying your Canada Student Loan more manageable:

· Interest Relief/Extended Interest Relief
· Revision of Terms
· Debt Reduction in Repayment

These debt management measures are intended to help you maintain good standing, fulfill repayment responsibilities and keep your loans out of default.  For complete details on these debt management measures, visit the NSLSC at http://www.canlearn.ca/cgi-bin/gateway/canlearn/en/home.asp

How Do I Contact the National Student Loans Service Centre?

For Public Institutions:
National Student Loans Service Centre
Public Institutions Division
Box 4030
Mississauga, Ont. L5A 4M4
888-815-4514 (within North America)
800-2-225-2507 (outside North America with country code)

For Private Institutions:
National Student Loans Service Centre
Private Institutions Division
Box 779, Station 'U'
Toronto, Ont. M8Z 5P9
888-587-7452 (toll free within North America)
416-503-6671 (outside North America call collect)

Part-time Canada Student Loan and Grant

For students studying between 20 and 59% of a full course load, the maximum loan available per year is $4,000. A Canada Study Grant of up to $1,200 per year may also be available to you depending on your reasons for studying part-time.

Canada Student Loans Application for Part Time Students  (PDF)

This form is provided on-line in PDF format. Help on viewing PDF files is available. Paper forms are available from the Student Financial Assistance office.

Canada Student Loans Program Also Offers Financial Assistance For:

Women in Doctoral Studies

A Canada Study Grant for women in certain fields of study of up to $3,000 per year for a maximum of three years.

Canada Study Grant Application for Female Doctoral Students  (PDF)

This form is provided on-line in PDF format. Help on viewing PDF files is available. Paper forms are available from the Student Financial Assistance office.

Canada Study Grant For Students with Permanent Disabilities

A Canada Study Grant to cover exceptional education-related costs associated with certain disabilities up to a maximum of $8,000 per year. Students with permanent disabilities only need to enrol in at least 40% course load to be eligible to apply for assistance for full-time study. Also, if you are unable to repay your loan because of your disability, the Federal Government may pay it on your behalf.

Canada Study Grant Application for Students with Disabilities  (PDF)

This form is provided on-line in PDF format. Help on viewing PDF files is available. Paper forms are available from the Student Financial Assistance office.

Students with Permanent Disabilities

A Canada Access Grant for students with permanent disabilities and high need to cover expenses related to tuition, accomodation and books, as well as other education-related expenses to a maximum of $2,000.00 per year. This grant is awarded after the maximum amount of available federal loan and provincial financial assistance has been allocated and will automatically be assessed when applying for a Canada Student Loan.

Students with Dependents

A Canada Study Grant is available to assist students with dependents. If your assessed need is in excess of $275 per week a grant is automatically assessed when you apply for the full-time or part-time Canada Student Loan. For students with one or two dependents the amount is $40 per week of study. Students with three or more dependents receieve $60 per week of study.

Students from Low-income Families

A Canada Access Grant for dependent students from low-income families is available to first-time, first year dependent students who are eligible for Canada Student Loans.  This grant is awarded to dependent students whose parental income falls below established income thresholds and covers 50% of their tuition up to a maximum of $3,000.00 without exceeding their federal assessed assistance.  The grant will automatically be assessed when applying for a Canada Student Loan.

How Do I Contact the Canada Student Loan Program?

Canada Student Loan Program
Human Resources Development Canada
Box 2090, Postal Station 'D'
Ottawa, Ont. K1P 6C6

web site: http://www.canlearn.ca/cgi-bin/gateway/canlearn/en/home.asp

CANADA MILLENNIUM SCHOLARSHIP FOUNDATION PROGRAMS

The Canada Millennium Scholarship Foundation was created by the Federal Government to distribute financial assistance through both its Millennium Bursary and Excellence Award Programs for a ten-year period starting in 2000.

The lifetime maximum that you can receive through the Foundation is $22,500 over a period of 32 months (not necessarily consecutive).

MILLENNIUM BURSARY PROGRAM
Each year, approximately 90 bursaries are made available to Yukon students who have proven financial need.  Financial need is determined through the Canada Student Loan Need Assessment process.

How Do I Qualify For A Bursary?
To be eligible for a bursary you must have successfully completed an equivalent of one year of post-secondary education.  This could include courses completed part-time over a number of years.

Are There Any Conditions To Be Met?
Yes, the conditions are:
• Be a Canadian citizen or Permanent Resident within the meaning of the Immigration Act;
• Demonstrate high financial need;
• Attend an eligible Canadian institution recognized by the Canada Student Loan Program;
• Attend undergraduate studies leading towards a degree, certificate or diploma recognized by the Canada Student Loan Program;
• Maintain full-time status in good standing during your first term of your studies;
• Be registered full-time for the second term of your studies.

How Do I Apply For The Bursary?
You must submit a Canada Student Loan and Millennium Bursary application form; however, you do not need to negotiate a Canada Student Loan in order to receive the Foundation’s bursary.  If you have applied for a Canada Student Loan you will automatically be assessed for this bursary.

Is There a Deadline Date for Applications?
Yes, there are two deadline dates:
If you are attending school from September to April, the deadline date is October 15th.
If you are attending school from January to August, the deadline date is February 15th.

How Much Will I Receive?
The amount of the Foundation’s bursary is $3,000.00.

When Will I Get My Money?
If you are a successful recipient, you will receive notification from the Foundation by the end of your first term.  Your cheque will be made available to you at the beginning of your second term once your institution confirms completion of your 1st term in good standing and full-time enrolment for your 2nd term.

Where Is My Money Sent?
Your bursary cheque will be sent c/o the financial aid office of the institution you are attending.

Do I Pay Income Tax On This Bursary?
Yes, the Federal Government requires you to claim this bursary as income.  You will receive a T4A from the Canada Millennium Scholarship Foundation.  Please keep the Foundation and our office informed of any permanent home address changes.  For information on education deductions for income tax purposes, please contact Revenue Canada.

Where Can I Get More Information?
For more information regarding the Millennium Bursary Program you may contact the Student Financial Assistance Office or visit the Canada Millennium Scholarship Foundation web site at www.millenniumscholarships.ca

THE NATIONAL INCOURSE AWARDS
These awards are made to students who have not been previously recognized with a substantial merit scholarship. They have been specifically created for those students who, after enrolment in a post-secondary program, begin to demonstrate qualities of leadership, community involvement, innovation and academic achievement that inspire others and make their world - be it on campus or in their community - a better place to be.

Where can I get more information?
For more information regarding the National Incourse awards please visit the Canada Millennium Scholarship Foundation web site at www.millenniumscholarships.ca  or by contacting their office at 877-786-3999.

MILLENNIUM ENTRANCE AWARDS PROGRAM
Yukon secondary school graduates will be chosen to receive Canada Millennium Scholarship Foundation Entrance Awards each year.  The number of awards available to the Yukon varies each year.  These awards recognize, support and encourage talented Canadians who make positive and significant contributions to the betterment of communities across the country.  Students who demonstrate the capacity for leadership and are committed to the pursuit of academic excellence and innovation will be considered.  Award recipients are chosen by an independent committee/board.

Where can I get more information?
For more information regarding the awards please contact your school counselor, visit the Canada Millennium Scholarship Foundation web site at www.millenniumscholarships.ca  or by contacting their office at 877-786-3999.

Student Financial Assistance
Advanced Education
Department of Education
Government of Yukon
Box 2703
Whitehorse, Yukon
Canada Y1A 2C6

Phone: (867) 667-5929
Toll free (In Yukon):
1-800-661-0408, local 5929
Fax: (867) 667-8555

Contact Names:

carole.theriault@gov.yk.ca

darlene.gammel@gov.yk.ca