How to Apply for Canada Student Loan

How to Apply for Canada Student Loan

Check out our comprehensive step-by-step guide on how to apply for a student loan in Canada via the National Student Loans Services Centre, NSLSC. To get started, learn more about their requirements, eligibility, and how to create an account.

Canada Student Loan Eligibility

To qualify for a Canada Student Grant and/or Loan, you must:

  • Be a Canadian citizen, a permanent resident of Canada, or designated as a protected person;
  • Be a permanent resident of a province or territory that issues Canada Student Grants and/or Loans, and demonstrate financial need.
  • If your financial situation changes before you start school.
  • Studying, you must inform your provincial or territorial student assistance office.
  • If your eligibility for student grants and loans is reassessed, this changes the amount of money.
  • You are to receive your provincial or territorial student assistance office will let you know.

In addition to this, you are required to enroll in the following:

  • At least 60 percent of a full course load (at least 40 percent for students with a permanent disability or a persistent or prolonged disability) if you are a full-time student;
  • 20 to 59 percent of a full course load if you are a part-time student; and
  • A degree, diploma, or certificate program offered by a designated post-secondary school that runs for at least 12 weeks within 15 consecutive weeks.

Note:

  • A student with permanent disability and you are studying between 40 and 59 percent of a full course load, you can be considered a student in full-time or part-time studies.
  • Learn more about eligibility.

Does Canada give student loans? Yes, The National Student Loans Service Centre, NSLSC, is a government financial support scheme accessible to all students in Canada.

How to Apply for a Students loan in Canada

Follow these steps to access and login online to apply for a student loan in Canada.

  1. Access Canada Student Grant and Loan online
  2. Begin Application
  3. Wait for notice of Assessment from your Province/territory
  4. Register and Complete your MSFAA account online
  5. Review and accept the MSFAA terms and conditions
  6. Submit your loan documents

Note: To avoid delays in receiving your funds by cheque, provide your financial institution information for the funds to be directly deposited.