Quebec Student Loans, Eligibility and Application Process

Filed in Loan, Student Loan by on March 30, 2022

– Quebec Student Loans –

Loans and Bursaries: Loans and Bursaries Program enables Québec students with insufficient financial resources to pursue full-time secondary school level vocational training, college or university studies.

Quebec Student Loans 2021, Eligibility and Application Process

Quebec Student Loans 2022

This program is contributive, meaning that students and, if applicable, their parents, spouse or sponsor are primarily responsible for the cost of their education.

Eligibility Requirements

Also, you may qualify for the Loans and Bursaries Program if:

1. You are a Canadian citizen or a permanent resident, refugee or protected person within the meaning of the Immigration and Refugee Protection Act.

2. You live or are deemed to live in Québec when applying for financial assistance within the meaning of the Regulation respecting financial help for education expenses.

3. However, you are or will be admitted to an educational institution recognised by the Minister.

4. You are a full-time or deemed full-time student.

5. You have not exceeded the number of months of eligibility for which they may award financial help.

6. Also, you have not reached the debt limit for your level of education, type of degree or program.

7. You do not have sufficient financial resources to pursue your studies.

Guarantee Certificate:

You need the Guarantee Certificate to receive the financial help awarded to you.

The certificate will be several days before the start of the session once your school’s student aid office confirms your student status.

You will receive an email notification when the Certificate is available in your file.

Which can be accessed through On-Line Services. Print the certificate and bring it to your financial institution.

Payment

We deposit directly your financial help into your bank account. You first need to bring your Guarantee Certificate to your financial institution.

Payment Dates

If you have a loan and a bursary, they made the payment on the first of each month. If the first day of a month falls on a Saturday, Sunday or statutory holiday, it will make payment on the next business day.

They will initially pay your financial help as a loan. At the end of the academic year, the portion that corresponds to a bursary will be deducted from your loan debt through the loan-to-bursary conversion.

If you have a loan only, they make payment at the start of each term. Use our On-Line Services to check your Financial help statement and find out the amounts of the payments planned during the year.

1. Loans Program

Under the Loans Program for Part-Time Studies, they award financial help on a per-term basis, as a loan.

Educational expenses and childcare expenses, if applicable, are considered in the loan’s assessment to be awarded.

Eligibility Requirements for the Loans Program.

You are eligible for the Loans Program for Part-Time Studies if:

1. you are a Canadian citizen or have permanent resident, refugee or protected person status as set out in the Immigration and Refugee Protection Act

2. you live in Québec when applying for financial help

3. you are a part-time student, not deemed full time

4. I enrolled you at a recognised educational institution

5. your courses comprise the following number of credits or course hours:

6. Secondary school vocational training: 76 to 179-course hours

7. College: 76 to 179-course hours

8. University (undergraduate, graduate and doctoral programs): 6 to 11 credits

9. you have not exceeded the maximum number of months of studies for which they can award financial help

10. you have not reached the established Loans Program for Part-Time Studies debt limit

Loans Program Payment

It deposits directly your financial help into your bank account. You first need to bring your Guarantee Certificate to your financial institution. They made a loan payment at the start of each term.

2. Aide Financière Aux etudes

The AFE’s full-time and part-time loan programs are considered separate entities and a change in status can directly impact them.

However, the amount of aid you can get, as well as your loan repayment. Your Aide financière aux études. (AFE) status (i.e., full- vs part-time studies) plays a key role in your aid dealings and payments.

Full-time Students

The AFE’s full-time program applies to students who are registered for at least 12 credits per semester during their undergraduate degree.

A full-time coop semester might be recognized as full-time registration by the university and AFE, but does not allow for AFE funding eligibility.

We consider graduate students working on their thesis full-time in each term, whether we register them with credits.

Part-time Students

However, the AFE’s part-time loan program applies to students who are registered for 6 to 11 credits per semester.

Students who are restricted from registering part-time because of special circumstances should investigate.

Also, if they qualify for being deemed full-time (info below), this status can prove to be more financially beneficial.

Eligibility Requirements

1. You may qualify for the Loans and Bursaries Program if:

2. However, you are a Canadian citizen or a permanent resident, refugee or protected person within the meaning of the Immigration and Refugee Protection Act.

3. You live or are deemed to live in Québec when applying for financial help within the meaning of the Regulation respecting financial help for education expenses.

4. You are or will be admitted to an educational institution recognised by the Minister.

5. Also, you are a full-time or deemed full-time student.

6. You have not exceeded the number of months of eligibility for which they may award financial help.

7. Therefore, you have not reached the debt limit for your level of education, type of degree or program.

8. You do not have sufficient financial resources to pursue your studies.

Loan Repayments

Upon graduation (or when you interrupt your studies), consider the repayment of your loan debt.

Also, the Scholarships and Student Aid Office regularly offers workshops on this topic through the Frugal Scholar Program.

Also, the Quebec government pays the interest on your loan while they considered you a full-time student.

The interest accrues on your loan at the beginning of the first month following your last day of full-time studies.

However, you may choose to repay your loan in part or in full upon graduation, but you also have the options to:

1. Wait until 6 months after your studies to repay your debt; or

2. add the interest that has accumulated over the 6 months to your overall debt.

If you are a full-time student who fell into repayment with AFE because you have not applied for financial aid this year, contact the office.

Which will confirm your status to AFE, which will stop the interest accruing on your loan.

FAQs About the Quebec Student Loans

Ques: When should I apply?


You should apply as soon as you’re accepted to the college.

Ques: Where can I find the application forms?


Also, you can apply online at AFE Aide financière aux études Québec as early as May.

Ques: How long will the application take to process?

About 4-6 weeks.

Ques: How much money will I receive?


Financial Aid is not a scholarship. The government will decide the amount of money you may receive depending on your actual financial situation.

Ques: Can I also get a bursary?


At the CEGEP level, the first $1,980. a student receives is as a loan.

 

Following that, if you’re still eligible for more financial help, additional money will come as a bursary

More from FAQs

Ques: When must I pay back my student loan?


You’ll start repaying your loan 6 months after you finish your studies and when you have a job.

 

There’s no interest as long as you’re in school full-time.

Ques: What is a Guarantee Certificate?


The Guarantee Certificate is a document that is issued by AFE after a student’s application has been processed and they have assessed a calculation of financial assistance.
 
They then sent the Guarantee Certificate to the Financial Aid Office at the college; as of the second week in August, students can pick up their Guarantee Certificate and bring it to their bank.
 
The next year that a student applies for financial help, there is no second Guarantee Certificate issued.
 
I only issued it to receive financial help through a student loan bank account.
 
Also, if a student takes a break from receiving financial help for a period of over six months, and then re-applies for loans and bursaries, they will issue a second Guarantee Certificate.

Ques: What is the difference between a loan and a bursary?


The loan part of your financial help will need to be repaid to your financial institution (bank) whereas the bursary component of your financial help does not need to be paid back to your financial institution (bank)

Ques: When do I have to pay back my student loan?


Six months after you finish your studies, including university, as long as you are a full-time student without interruption in your studies for over six months.

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CSN Team.

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