Apply for a Student Loan - Assets

Your financial and vehicle assets (and those of your spouse, if applicable) are considered in determining your financial need, if they were in your possession at the start of your pre-study period or if they were obtained during the pre-study or study periods. The full value of these assets is considered as an expected contribution, after an exemption is applied for Registered Retirement Savings Plans (RRSP) and vehicles. There is no exemption applied to other financial investments. Parental assets are not considered.

A $2,000 exemption is allowed from the current market value for each year you have been out of secondary school. If you are married or common-law, a $2000 exemption on RRSP's is also allowed for each year your spouse has been out of secondary school.

Other financial investments include Canada Savings Bonds, provincial savings bonds, corporate bonds, guaranteed investment certificates, T-bills, mutual funds, term deposits, trusts and shares whether or not they can readily be converted to cash.

You may be required to have a Confirmation of Investments form completed by your financial institution to confirm non-redeemable investments or to verify actual investment amounts.

A $5,000 exemption is allowed from the gross market value of vehicles registered in your name and/or your spouse's name regardless of who purchased the vehicle.