About Student Loans
Canadian students who study outside Canada are eligible for loans provided by the federal government through the Canada Student Loans Program, in addition to loans provided by their province of residence.
All of OzTREKK’s Australian universities are included on Canada’s “List of Designated Educational Institutions.” If you attend one of these universities, you are eligible for a government student loan in Canada.
In Canada, there are two main categories of government student loan programs:
1. The federal program, called the Canada Student Loans Program (CSLP); and
2. provincial and territorial programs.
To apply for a government student loan, you apply to only one place to receive your student financial assistance—the student loan program in your province of residence.
Government Student Loans
Canadian government student loans provide funding to eligible students based on demonstrated financial need. The Canada Student Loans Program provides up to $210 per week of full-time study per loan year (Aug. 1 to July 31), for students studying internationally. Additional loan money is granted by most provinces; however, the Ontario Government does not provide any province-based funding for Ontarians who wish to study internationally (students from Ontario can access only the $210/week from the Canada Student Loans Program).
Funds are disbursed through a combination of the Canada Student Loans Program and the appropriate provincial student loan program. One application will qualify you for both programs. Your application must be directed to your province of residence. The rules for what determines your province of residence vary, but normally it is defined as where you have most recently lived for at least 12 consecutive months, not including any time you spent as a full-time student at a post-secondary institution. In most cases, the province of residence is the province one lived in before becoming a post-secondary student.
To apply for these loans, fill out an application in your home province/territory for each year that you are studying. These loan programs are intended to supplement the financial resources of students and their families. There is no guarantee that you will be granted financial assistance. The defining features of government student loans are as follows:
- They are interest free while you are in school. Interest starts to accrue after you are finished school.
- They do not require repayment until six months after you stop going to school.
- They offer interest relief and/or debt reduction assistance for eligible students, depending on their situation.
#OzTREKKTip: Your government student loan money will be released after your program has commenced! Make sure you factor this into your financial planning! If you are approved for a Canada Student Loan, most provincial loan offices do not release your money until after you arrive in Australia and classes have commenced.
It is recommended that you have the Canada Student Loan funds deposited directly into your Canadian bank account, and then arrange for a wire transfer to Australia. Do not ask the provincial loan office to mail you a cheque to Australia. This cheque will be in Canadian dollars, and it will be difficult to cash it in Australia. Finally, if you opt to have the cheque mailed to you at your home address in Canada, make sure that someone can deposit it into your Canadian bank account so the funds can be accessed.
How Can OzTREKK Help?
OzTREKK can provide you with assistance and support during the loan application process. While we cannot answer any questions specific to your application status, or the amount you may receive, we are more than happy to provide advice and details about getting your loan application process started.
When you apply for your student loan, you will likely be asked to provide further information about your program. Some provincial loan programs require a program information form completed by your Australian or New Zealand university.
If you have a program information form to be completed, or need financial information about your program for your loan application, just let us know. Send the program information form to our office and we will have these completed by the correct financial aid officer at your Australian university. Once completed, we will return it to you for your records. Some provincial loan programs will allow you to upload this form in their electronic systems while others liaise directly with your Australian financial aid officer to obtain the required information.
Please look at Canada and Provincial Student Assistance Programs for more information about how to apply.
Provincial and Territorial Student Assistance Offices
Newfoundland and Labrador
Student Aid Division
Prince Edward Island
Student Financial Services
Student Assistance Office
Toll-free: 1-800-565-8420 (within Canada)
Student Financial Services
Aide financière aux études
Tel.: 514-864-3557 (Montreal area)
Toll-free: 1-877-643-3750 (within North America)
Student Support Branch
Student Aid Branch
Toll-free: 1-800-204-1685 (within North America)
Student Financial Assistance Branch
Alberta Student Aid &
Student Funding Contact Centre
Student Aid BC
Toll-free: 1-800-561-1818 (in Canada)
Students Financial Services
Toll-free: 1-800-661-0408 local 5929 (within Yukon)
Student Financial Assistance
Student Assistance Office
*Nunavut, the Northwest Territories and the province of Quebec operate their own student assistance plans. If you are a resident of Nunavut, the Northwest Territories or Quebec, contact the provincial or territorial student assistance office for further information.
Finally, have a look at the Government of Canada Student Aid website.