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National Student Loans for december 2023

Apply for a national student loan at one of the banks, verified by our specialists. On 01.12.2023 0 student loans are available to you. Increase your chances of getting a loan - fill out an online application with a free credit rating check.
Online Loan Application of December 2023
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You are able to pick a loan with discount. You can receive money in: 15m

Online Loan Application of December 2023
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Here is the average overpayment on a loan based on data from lenders in Canada.

2 050 C$
Removed money from my bank account, to apparently verify my bank account. Then denied my application because I live in a unorganized township that does not have a physical address...
Money Mart
Bad customer service they can never fix your problems...
the application is easy and takes less then 5 mins to fill out. but the funding time is quite long. if looking for instant funding then its not here...
National Student Loans for december 2023

What is a national student loan, and how does it work?

National student loans are loans funded by the Canadian government for post-secondary students to assist them in paying for education. Although they aren't made to cover the total cost of education and to qualify, you should meet the requirements. For example, a student could be eligible to get up to 60% of the cost of the tuition in federal funding. However, the maximum amount could change.

Canada Student Loan Program (CSLP) and Canada Student Grants Program (CSGP) are federal programs; provinces have student aid programs that could be integrated with CSLP or have their funding and managing conditions. For example, Manitoba, Newfoundland & Labrador, Prince Edward Island, and Nova Scotia provide access to no-interest loan repayment.

The federal government works with most provinces or territories to help students get the necessary amount. You apply with the province or territory of residence; during the application, you could find the conditions and available amount of student aid that answer your needs in your specific situation.

National student loan features

  1. The loans are interest-free during the studying process, with a grace period after graduation. In addition, national student loan rates are low and could be chosen between fixed and variable.

  2. You could spend money for any educational expenses, but to qualify for student aid, you must be enrolled in an eligible educational program at college which meets all needed requirements. Every upcoming academic year, you should reapply for CSLP. However, there are specific lifetime limits on the student aid you could gain.

  3. National student loans aren't aimed at financing your educational needs; you should be ready to pay from your savings or apply for other government grants, loans, assistance, or private loans or lines of credit. Typically, they could combine them, but some provinces and territories like Yukon require to choose between CSLP or the Yukon provincial program.

Where to get a national student loan in Canada?

You should start from your province or territory's student aid office. Apply for a student loan or grant program, and in most cases, you will be able to combine federal CSLP and provincial financing. Use National Loans Service Centre (NSLSC) website to find out if you meet the criteria of the program, and visit your provincial program website to review the conditions:

  • British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Ontario, and Saskatchewan offer combined federal and provincial grants and loans.

  • Alberta, Nova Scotia, and Prince Edward Island allow participating in CSGP/CSLP and provincial or territorial finance student aid.

In Alberta, part-time funding is provided only at the federal level.

  • Yukon permits participation in CSGP, CSLP, or Yukon grants, which may be combined with another student aid.

  • Federal government programs aren't available in Nunavut, the Northwest Territories, and Quebec. Visit these areas' offices to apply to their programs.

When approved, you could manage and repay your loan through the National Student Loans Service Center site and your provincial loan through the provincial government's financial student aid office or their service provider.

How to apply for a national student loan in Canada?

  1. Visit NSLSC and your provincial student aid office to overview the eligibility criteria and amount of potential assistance.

  2. Apply for a CSLP or/and provincial student aid program using the provincial or territorial student financial student aid office website. Enter your personal information, educational curriculum details, and financial information.

  3. Wait for the Notice of Assessment. If you don't qualify, you can try to request for reassessment, but it could take a lot of time, so you should have at least two months before the beginning of the classes.
    If you qualify, NSLSC will contact you to complete a Master Student Financial Assistance Agreement (MSFAA). Register and log in to your secure NSLSC account to fill it out.

  4. Review the MSFAA, read the terms and conditions, and make sure that:

  • You fully understand the responsibilities and commitments, terms and conditions of your loan agreement before accepting it;

  • your personal information is accurate;

  • input your banking details for direct deposit.

  1. To receive your financing, confirm that you are enrolled. Borrowers may submit documents online with the NSLSC accounts.

  2. Borrowing funds will be deposited directly to your bank account or transferred to the college to pay your academic fees on or after the first day of classes. The deposit is usually processed during 7 — 10 business days.


To qualify for a National student loan, you should:

  • Be a citizen, a permanent resident of Canada, or designated as a protected person;

  • Be a permanent resident of a province or territory that issues CSLP/CSGP;

  • Demonstrate financial need.

To find eligibility criteria for your provincial/territory student's financial support programs, visit or contact your provincial or territorial student aid office or website.

You must also be enrolled in:

  • at least 60% of a full course load (40% for students with a permanent disability) if you are a full-time undergraduate;

  • 20% to 59% of a full course load if you are a part-time student;

  • a diploma, degree, or certificate program provided by a designated post-secondary school that runs for at least 12 weeks within 15 consecutive weeks.

Note: borrowers over 22 years old who are applying for the first time must go through a credit check.

There are lifetime limits on the amount of financial assistance:

  • Full-time undergraduates qualify to receive financial aid for 340 weeks only;

  • Full-time students enrolled in doctoral studies — for 400 weeks;

  • Scholars with permanent disabilities — for no more than 520 weeks.

The amount you could receive depends on:

  • Your province or territory of residence;

  • Your family's annual income;

  • If you have dependents;

  • Your tuition fees and educational costs;

  • Your living expenses;

  • If you have a disability;

  • Assets and investments (full-time students only).

Pros and cons


  • Repayment Assistance

  • Half-year grace period

  • Low or no interest

  • Apply and manage online

  • Long terms

  • Start building credit history

  • Combine several types of loans


  • Lengthy application and approval process

  • Strict requirements for an education program and school

  • Could end up with unplayable debts

  • Postponed plans and big purchases

  • Limited amount

  • Have to raise different funds to finance education

  • Have to reapply every year

What is the National Student Loans Service Centre?

National Student Loans Service Centre (NSLSC) is an agency that holds and collects governmental and provincial integrated student loans. It assists in managing loans online through an NSLSC Account: you may register an account and log in to make payments, review your file, apply for the RAP, and check your status. With NSLSC, you may access all the needed information about your loan planning and repayment.

There is special assistance for borrowers who were affected by a natural disaster. They could contact NSLSC to fast-track the application for the RAP.

For help, start a live chat at the NSLSC website, send an email, or contact NSLSC.

Toll-free within North America: 1-888-815-4514

Toll-free outside North America: 800 2 225-2501, or use the Canadian Operator number 0800 096 0634 and then call the NSLSC collect at 905 306-2950.

How do I access my student loan account?

If you don't have an NSLSC account, register at the website by clicking the «Register» button. Enter your Social Insurance Number (SIN) to start. To access your account, you should register using secure login solutions — GCKey or Sign-in Partner (Government Sign-In by Verified.Me). Sign-In by Verified.Me lets you log in using your online banking information with one of the participating Sign-In Partners. You can create a username/password with GCKey or enter your existing GCKey User ID.

You may confirm your identity by entering SIN, date of birth, and temporary secure access code and then register your account.

Before you need to start paying off your loan, the NSLSC will send you a Consolidation Letter and Agreement. It outlines your payment terms, rate, minimum monthly payment, start date, amount, and method.

You should register with the National Student Loans Service Centre Online Services to customize your payments, negotiate payments amount and get repayment assistance. Set up a suitable payment schedule that allows you to repay at your pace.

How to pay off a student loan?

  1. While studying, you don't have to make any loan payments, and no interest accrues. You should stay at college for full-time education; if you were transferred to part-time or withdrawn, your interest-free period ends.

  2. Six months after you have finished full-time studying, a grace period begins: you may not make a loan repayment, but interest starts to be charged. It will be added to your principal balance during the consolidation.

  3. You should start making regular loan payments at the end of the six months. First, log in to your secure NSLSC account to view your loan info. If your loan was funded directly into your bank account, you are automatically set up for pre-authorized debit. Also, you can use online banking, cheques, or bank drafts as payment methods.

Student loans usually have longer terms; you could make small monthly payments and look for a job. However, longer terms end up with more significant interest accrues. That's why you should try to start student loan payments as soon as possible, even during the grace period, or at least pay off the accumulated interest as a lump sum payment.

Beware of the missing payments that hurt your credit history: loans could result in default and legal problems. If you default on your loan for over 270 days, it will be sent for collection.

If you cannot pay off your debt, you can apply to access the Repayment Assistance Plan (RAP). With RAP, you may qualify for lowered payments for six months. Later you can reapply for another six months. Also, you may have a chance to apply for RAP for students with permanent disabilities, Medical, and Parental Leave if they answer your needs and status.


Is there a national student loan forgiveness?

In general, your loan could be discharged only through the bankruptcy filed after seven years of graduation. However, you may apply for Canada Student Loan Forgiveness if you qualify. Practicing family doctors and nurses are expected to provide in-person services in under-served rural or remote Canadian communities.

Family doctors could receive up to $40,000 over a maximum of five years, and nurses could receive up to $20,000 over five years.

Saskatchewan provides Loan Forgiveness for Nurses and Nurses Practitioners; they could receive up to $20,000 over a maximum of five years in Saskatchewan Student Loan forgiveness.

What is the national student loan debt in Canada?

Canada's total student loan debt in 2022 is over $22 billion. According to the Canada Student Loans Program statistical review, over 1.7 million Canadians owe money on student loans. On average, student debt has been rising to $91 billion per year in the last ten years. The average student debt is about $26,075.

What happens if you don't pay off student loans in Canada?

If you miss nine months of payments, the federal part of your loan is sent to the Canada Revenue Agency (CRA) for collection — and you cannot get student aid anymore.

It must have gone at least seven years since your graduation to discharge your debts, declaring bankruptcy. Sometimes you could apply to a court for an early discharge. If your student loan is younger than 5 or 7 years, but you can't afford to make loan payments, consider requesting revision of terms, government financial help by Repayment Assistance Plan (RAP) or Repayment Assistance Plan for Borrowers with a Permanent Disability (RAP-PD).