Determining your Eligibility

British Columbia is the third most populous province in Canada. Out of its total population, a big percentage is made up of students who are already taking advantage of the benefits of the student loans offered by the government. If you are a permanent Canadian resident, there are two types of loans that you can apply for. The first one is the federal loan which is offered on a national and provincial level. The second one is a private student loan, which can be obtained through a bank or other financial institutions.

If you live in the BC area and you are applying for a federal student loan, here are the eligibility requirements that you need to fulfill. First, as mentioned earlier, you would need to be a permanent Canadian citizen to take advantage of the federal student loans. If you are applying for a provincial student loan, you should be a BC resident. Second, you should meet the school eligibility requirements. Third, the amount of student loan that will be granted for you depends on your financial need assessment. Once you meet these requirements, you can apply for the federal student loans offered to British Columbia residents. The funds that you will receive can then be allotted to college-related expenses such as tuition fees, books, room and board. With student loans, families who would not normally be able to send their kids off to college due to the enormous expenses involved can do so now.