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What is the application process for Canada student loans?

I am a permanent resident in Canada and I am currently applying for college. I’m looking for information on both government-funded and private loan options available. However, I have a low credit score and I would prefer student loans with no credit check.

I would also like to get an insight into the best student loan consolidation plan. I am asking this because I would like to plan how I will repay the loans early to avoid the penalties that come with student loan default.

What is the procedure for applying for Canada student loans?

Naomi Doyle

in Student Loans

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Melissa Norris on March 21, 2018

Follow these steps to apply for a Canada student loan:

1. Obtain a Student loan application form

Get an application form from the Government of Canada student finance website. You will need to first select the province you are from. You can also get the application form from the student affairs office in your province.

2. Fill in required details on the form

Ensure you give accurate information on the application. Do not leave any section unanswered (unless stated so). You can submit the filled application form online, through the mail or physically take it to the province’s student finance office.

3. Wait for a notice of your assessment

A ‘notice of assessment’ is the name of the given to email or mail notification of the approval of a loan you have applied for.

Once you qualify for a student loan, you will be given an agreement document known as MSFAA to fill, sign and submit.

4. Counter check the loan document

Loan documents usually have all information regarding your loan. This includes the amount of money you expect to receive yearly. Make sure you understand this is a loan and you will pay it back. Student loan defaulting has severe penalties. Countercheck the information you had given to ensure it is a true reflection of what you submitted. Remember to include your bank details if you would prefer that the funds be given through your account.

5. Sign and submit the loan document

After you have thoroughly gone through this document and understood its terms, only then should you sign it. Once you have given your signature, you enter into a legally binding agreement between you and the lender.

You can submit the agreement by physically or by mail. Attach all the required identification and other personal documents with this agreement for submission. Government student loans have no credit check requirement.

6. Check if your college has filled a confirmation of enrolment for you.

This is usually the responsibility of the university or college you are enrolled in. In the case whereby this has not been done, the loan servicer may contact you to have it completed.

There is no method of student loan consolidation that is best for all. Different provinces have different ways of doing this. You can get more information on this from your province student finance ad affairs office.

Noel Byrda year ago

It is true that to the best student loans consolidation for government loans in Canada depends on the territory. Depending on where you are from, one of three scenarios will play out:

  1. Automatic consolidation of your provincial and federal loans: if you live in territories such Ontario or New Brunswick and you have both of the above-mentioned loans, then these will be automatically consolidated into one new loan.
  2. You will only be granted kind of loan: places like Quebec and Nunavut only give one loan type to their students. Therefore, loan consolidation is not particularly necessary as you will serve only one loan. This is of course either provincial or federal.
  3. No consolidation: territories like Nova Scotia and British Columbia allow students to apply provincial and federal loan with a single application. However, students are expected to service both loans separately. They do not consolidate loans.


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