BC Student Loans

British Columbia (BC) Student Loan is a need-based program. It is planned to present additional financial assistance to those students, who enrolled in at least 60 per cent of a full secondary-level course load and for credit in a minimum of twelve weeks. A student must attend a selected post-secondary school, and their studies must direct towards a certificate, diploma or degree. It is anticipated that the costs of the student education will be of main concern for the family.

BC Student Loan is intended to supplement, not replace, funds available to students through work, savings, assets and family resources or incomes. As the program is need-based, the income and resources against basic educational costs and a moderate standard of living needs consideration. To be considered eligible for provisional assistance, you must first be eligible for a Canadian Student Loan.

The provincial government pays the bank or credit union the interest unpaid on the loan, even as the student is enrolled in full-time study at a designated post-secondary school. This is for six months subsequent the student’s study and date. These loans must be paid back.

Students are accountable for making repayment arrangements (principal and interest) with the bank or credit union starting six months after leaving classes. Students may be required to pay back all or part of the loan earlier if they withdraw from school early or if an inaccuracy is discovered in their applications.
Requirements for BC Student Loan:

Not everyone qualifies for the BC Student Loan. There are some basic eligibility requirements that you must meet in order to get assistance under the BC Student Loan. These include:

You must be a Canadian Citizen.
You must have a valid Canadian Social Insurance Number, which begins with 1, 2, 4, 5, 6 or 7
You must be a resident of British Columbia as defined under this program.
As your primary occupation, you must acquire education.

You must not be a defaulter of ex-government’s offered loans.
You must be able to exhibit your financial need based on a moderate standard of living

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