Financial Aid and Student Loans
Government-Funded Student Financial Assistance – apply through your provincial Student Aid Department.
Student Line of Credit – apply through your bank.
Government-Funded Student Financial Assistance
Your respective Provincial Student Aid Department can help you meet the basic costs of learning and living. When you apply, you will be considered for loans and grants from your respective Provincial Student Aid Department and the Canada Student Loans Program. You must apply in your home province or territory—the last place you lived for at least 12 months, worked and were not enrolled in post-secondary education.
Basic Eligibility Requirements:
- Be a Canadian citizen, a landed immigrant (permanent resident) or have protected person status.
- Have a valid Canadian social insurance number (SIN) that does not start with 0 or 8 (these social insurance numbers are not eligible for student loans).
- Be a resident of British Columbia or other provinces.
- Be pursuing full-time studies as your primary occupation.
- Be able to demonstrate financial need.
- Make academic progress and achieve satisfactory scholastic standing in each period of post-secondary study.
To estimate how much government-funded student financial aid you may be eligible for, Use NSLC’s Student Financial Assistance Estimator. For further details, see your respective Provincial Student Aid Website.
Student Line of Credit
A Student Line of Credit from your bank may be an alternative if you are unable to receive govern-funded financial assistance, or you are not receiving enough funding for your studies. The general requirements for professional line of credit from banks or credit union are:
- Be the age of majority.
- Proof of enrolment.
- 2 pieces of Identification.
- Be able to pay at least interest-only from employment, savings, etc.
- Have a good payment history or credit record.
- Have a satisfactory cash flow.
If you are not employed or do not have a credit history, you may need someone to co-sign your loan (ex. parent, family member, spouse, etc.). Financial institutions offer different terms and amounts for lines of credit. Please contact them to discuss your eligibility. We recommend that it is best to apply to the following financial institutions, which have a better understanding of the program costs.
Learn about the Royal Credit Line for Students in a Health Sciences program.
Contact an RBC Credit Specialist: 1-866-881-6618
Small Business Advisor
Burnaby Main Branch 4299 Kingsway, Unit 9, Burnaby, BC, V5H 1Z5
1.604.668.3939 EXT 3001
Community Branch Manager
New Westminster Community Branch 1625, 5th Ave, New Westminster, BC V3M 1Z7