Government Student Loans - Canadian Students
Need some financial assistance to attend university? Canadian students can apply for federal and provincial student loans.
Check out the federal government's student loan website or click on your province for more information about the application process:
|Student Loans by Province|
|Manitoba||Prince Edward Island|
Please note: You only need to apply once through your provincial government to be assessed for federal and provincial student loans.
Other Financial Aid Resources - Canadian Students
EI Only Program
Are you from New Brunswick? Did you have a contract that finished OR did you get laid off over the summer? Can you establish an Employment Insurance claim with Service Canada? You may be eligible for a new program called EI Only
Starting in January 2016, the EI Only program allows eligible New Brunswick students in any year of study who can establish an EI claim draw EI while they are in studies until it runs out. To determine your eligibility, please:
apply for Employment Insurance through Service Canada http://www.servicecanada.gc.ca/eng/ei/application/employmentinsurance.shtml and
call the Department of Post-Secondary Education, Training and Labour at 453-2377. Say that you’re interested in the EI Only Program
Please note this program is only available to New Brunswickers (students with a NB Medicare card).
Student Loans - US Students
American students studying outside of the United States (US) are eligible for subsidized, unsubsidized and PLUS Loans through the William D. Ford Direct Loan Program. Students studying outside of the US are not eligible for any US Grants.
Aggregated loan limits for US Direct Loan borrowers:
First Year (no previous post-secondary): $3500 subsidized (government cover the interest) plus $2000 unsubsidized (interest begins to accrue at the moment loans are disbursed) = $5500
Second Year: $4500 + $2000 = $6500
Third Year+: $7500 =$7500
The amount of unsubsidized loans awarded is determined by the Cost of Attendance less the Estimated Family Contribution (FAFSA) and student awards.
Parents can apply for PLUS loans to offset the cost of attendance. A credit decision is made, if the parent is denied, students are eligible for additional unsubsidized loans up to a combined loan total of $9500 for first year, $10500 for second and $12,500 for third and above.
To apply for US Federal Aid students must first complete the FAFSA www.fafsa.ed.gov . St. Thomas University's institutional code is G06682. Secondly, students must go online to www.studentloans.gov to complete the Master Promissory Note and Entrance Counselling. Notification is sent to STU once each step has been completed.