Loans and bursaries may not be the perfect system but they can give you a real boost. Once your application is accepted, paying off a few bills with that first paycheque feels really great!
How Loans and Bursaries Work
Once you get the thumbs up, you receive a guarantee certificate from your educational institution confirming that you will be awarded a government loan or bursary.
Then, the best thing to do is to hand your certificate over to a financial institution that is a partner in the program, who will subsequently manage it for you. Basically, this institution will automatically deposit the amounts you are entitled to directly into your account1.
Are There Any Fees for Managing Loans and Bursaries?
Not a one! You do not have a single payment to make until you have completed your studies. The government will even pay the interest on your debt for the duration of your studies! Of course, once you have completed your studies, you must start repaying your student loan (principal and interest2).
However, it's important to get all the facts because not all financial institutions are partners in the program. Are we? Of course! That's why we’re so happy to talk to you about it! And we'll even give you a hot tip for more information and/or to apply for loans and bursaries: www.afe.gouv.qc.ca.
|Government Student Financial Assistance Programs|
|Programs or Types of Funds||More Information|
|Loan to purchase a computer||www.afe.gouv.qc.ca/en/index.asp|
|Explore Program (Summer Language Bursary Program)||www.afe.gouv.qc.ca/en/index.asp|
|Allowance for Special Needs Program - Youth||www.afe.gouv.qc.ca/en/index.asp|
|Canada Student Loans Program||www.hrsdc.gc.ca|
|Quebec Ministry of Education (MEQ) Student Mobility Bursary||www.mels.gouv.qc.ca|
|College and university studies in France (available in French only)||www.formulaire.gouv.qc.ca|
1. The usual account transaction fees apply.
2. The interest rate varies according to the Bank of Canada prime rate.