A Guide to Student Loans & Grants in Canada

Your education is one of the most important investments you will make in your lifetime. Did you know that there are many options available to help fund this investment? 

To assist in covering the cost of post-secondary education, both the Government of Canada and provincial governments offer Student Grant and Loan programs, helping to eliminate many financial barriers people face. In fact, at Sundance College, almost 99% of our students access Financial Aid to fund their schooling and allow them to pursue their career passions and goals!

We have put together a guide to Student Loans and Grants in Canada to help you better understand your options and to help kickstart your journey toward earning your diploma.  

The Canadian federal government offers funding assistance in the form of the Canada Student Financial Assistance Program (CSFA Program). This program provides both Canada Student Grants and Canada Student Loans to students across the country.  

What Are Canada Student Grants?  

Canada Student Grants are available to students from low to middle-income income families who are enrolled in a part-time or full-time program at a designated post-secondary institution. In many circumstances, Canada Student Grants do not need to be repaid upon successful completion of your program.   

Canada Student Loans are available for full- or part-time students who meet the eligibility criteria within their province and are enrolled at a designated school. When you graduate, you will owe the loan amount, plus interest, back to the government after a 6-month grace period.  

In addition to the federal government's offerings, each province has its own financial assistance program to help students pay for their post-secondary education. In many cases, you receive funding from both the federal and your provincial government. The type and amount of assistance provided varies depending on individual circumstances. For example, more funds are usually available to those who are supporting dependents.  

Both government Student Grants and Loans usually have annual limits, based on the academic year, and lifetime limits. The amount you can receive also depends on several factors:  

In most cases, you may apply for Grants and Loans through a single Student Aid application covering both federal and provincial government funding. Sundance College’s professional Financial Aid Advisors have expertise in the requirements of each province to help guide you through the application process.   

As an alternative to Student Aid funding, some students choose to pay themselves or obtain funding from other sources, such as a family member. They may also get approved for a personal student loan or line of credit from a financial institution. 

At Sundance College, we believe everyone should have the opportunity to pursue post-secondary education and a career. We also believe lack of funds should not prevent anyone from starting this journey.  

Sundance College is a designated post-secondary institution, and all our programs are eligible for government Student Aid funding. We also offer our students scholarships and a laptop program, so each Sundance College student has the best chance at success.  

If you are thinking about becoming a student at Sundance College, simply fill out this form: Request Info. Your personal Admissions Advisor will provide information on the program you are interested in. Your personal Financial Aid Advisor will walk you through all the funding options available to you and assist you in completing an application for whichever funding option you choose.   

With government loans and personal loans available to many, money should not be a barrier to pursuing higher education and new career goals. Once you have earned your diploma, no one can take it away!