Student Loans

The federal & provincial governments offer student financial assistance programs for Canadian citizens and permanent residents studying at the post-secondary level. Your provincial or territorial authorities will evaluate your application and provide funding (loans and/or grants) based on demonstrated financial need.
Government Student Loans are interest-free while you are attending full-time at a post-secondary institution. Repayment commences six months (Canada loans) and 12 months (Alberta loans) following your last date of full-time studies.
You must apply for student loans through the province in which you are a permanent resident. For example, Alberta residents apply through Alberta Student Aid (www.studentaid.alberta.ca).
The Scholarships & Student Finance staff (AH115) are available to assist and guide students through all aspects of the student loan process.

If you do not qualify for a government student loan, many banks offer personal student loans or student lines of credit.
For a personal loan, you pay only the interest while you are in school. You begin repayment of the principal when you cease to be a full-time student.
Unlike government student loans, these loans are not based on financial need.
To qualify for these loans you generally must have a co-signer (e.g. parent or guardian) and you are encouraged to have a regular part-time job so that you can make your monthly interest payment.
Application for a personal student loan or a student line of credit can generally be made at your local bank.