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Are you looking to apply for a student loan?
Then you've come to the right place.
CanLearn.ca offers everything you'll need to know, shown here in 3 easy steps.
Step 1 - How Much Money could you get?
Well, your eligibility depends on your financial need,
and the rules and conditions of the student loan program you're applying under.
You can get a general idea of how much by using the estimating tools available on the CanLearn site.
Step 2 - How do you Apply?
In Canada, there are 2 main categories of government student loan programs.
1. The federal program, called the Canada Student Loans Program (for full-time and part-time students).
2. And provincial and territorial student financial assistance programs.
You'll only need to apply in one place, your province or territory, for these loans.
Depending on where you live, you will manage and repay either one or two loans.
If you live in one of these 4 provinces, then your provincial-federal loans programs are integrated.
That means the province will process your application for both provincial and federal sutdent loans,
and you only have to manage and repay one loan.
You can do this centrally at the National Student Loans Service Centre.
Make sure to sign up for an on-line account with them through CanLearn.
If you live in one of these 5 provinces, then your province
will still process your application for both provincial and Federal student loans.
However, keep in mind that you will need to manage and pay back 2 loans:
1 from the Government of Canada - called the Canada Student Loan
and 1 from your provincial government.
You get more detailed information through this link.
Your province or territory hasn't been mentioned?
Then check out these links on the CanLearn site for more information.
Step 3 - How do you Get your Money?
Once your province or territory reviews your loan application,
you will receive a letter of assessment telling you how much money you'll receive.
Next you'll receive your loan documents.
You'll need to bring these to your school to confirm your enrolment.
Once you've done that, read and sign your loan documents.
If you are receiving a Canada Student Loan for part-time studies,
you'll also need to sign the Canada Student Loan Agreement (Part-Time),
included with your loan documents.
Now, send or submit your completed loan documents
to the address or addresses provided in your loan agreement.
Once the loan documents have been received and verified for completeness,
they will be processed.
Your money will be issued by cheque or direct deposit to you or your school.
Remember, keep your loan documents in order according to year,
and put them in 1 place for easy reference.
You may need to refer to them in the future once you start paying back your loans.
Sign up for an NSLSC on-line account to easily keep your address and status up to date.
Applying and managing student loans doesn't have to be a complicated process.
Remember, it is your responsibility to keep your personal information up to date
with the National Student Loan Service Centre and other service providers.
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