British Columbia Student Loans
If you are a resident of British Columbia, Canada, and you are planning to attend college – regardless of where you will attend college – there are certain things that you need to be aware of concerning the BC student loans, or the British Columbia student loans services. Canadian student loans for students who reside in this territory are administered through Student Aid British Columbia.
Student Aid British Columbia works with the Federal Government of Canada to provide financial aid for students who have financial need so that they can attend college. What this means is that when you apply for a BC student loan through Student Aid British Columbia, you are also automatically applying to financial aid through the Federal Government, with one application. However, it is important to realize that when it comes time to repay the BC student loans, those acquired from the provincial government will be repaid through Student Aid British Columbia, and those obtained from the federal government will be repaid through the National Student Loan Service Centre.
When you are considered for BC student aid, which would include grants, Bursaries, student loans, and some scholarships, many factors will be taken into account. These factors generally include income earned by the student through employment that will continue while attending school, contributions by parents and college savings accounts, money available in separate savings accounts, and assets that are owned. Typically these income sources are not enough to fund a college education, which creates a financial need.
When it comes to student loans in BC, there are three types that you can apply for. These include British Columbia Student Loans, Canada Student Loans, or a Part Time Canada Student Loan. There are also Canada grants, scholarships, and Bursaries that are available directly through the providence. There are also separate programs for students with dependents, disabled students, and part time students.
Once you graduate or leave school, you can also access the Repayment Assistance Program through Student Aid British Columbia for help in repaying providence loans. Additionally, through the website provided by this department, you can also obtain information that will help you plan your education, your career, and your finances. You will also find tools to help determine your eligibility, and information on applying for BC student loans, grants, and Canada scholarships. You will also find information to help you manage your debt, including Canadian student loan debt through the website.
Although the student loan programs in Canada may seem a bit confusing at first glance, in reality the federal and provincial governments provide enough programs for grants and student loans to make this one of the easiest countries in the world in which to obtain the funds to attend college. Because of this, if you live in Canada – and specifically in British Columbia – student loans or financial concerns should never be a reason for not obtaining the highest education possible, or the education necessary for your career goals. For more information go to BC student loans.
