Government of Canada Student Financial Assistance Estimator
The size of your government loan / grant depends on many things:
Government student assistance is available from both the federal and provincial governments - they can be added together.
Aid estimators can help you determine how much assistance you'll receive (check every year - student loans are renewed on a yearly basis):
Here are some examples:
Before you take on student debt, you must have a plan to repay it. The longer you take to pay a loan back, the more expensive it becomes. Use the estimator below - notice how changes to the term and the rate affect the total interest you pay.
Six months after you graduate / stop studying full-time / leave school, you'll start paying interest on your student loans. You'll get a payment package from the National Student Loans Service Centre (NSLSC) or your provincial government. It will show how much you'll have to pay each month and how many payments you'll need to make until you pay back the principal. The NSLSC can be set up as a payee from your chequing account's online banking.
You can start making principal payments on government loans as soon as you get the money. It's possible to pay off the loan's principal before interest payments kick in, avoiding them entirely.
OSAP (Ontario) Aid Estimator
Updated October 27, 2018
Here's a link provided by Canada Student Grants and Loans that can direct you to your provincial provider.
You apply for both federal and provincial assistance through your provincial provider's website (your province / territory of residence).
Government assistance can be in the form or a grant or a loan. Grants are non-repayable but loans have to be paid back.
You may be disqualified from government assistance if you:
New assistance programs are announced by provinces / schools all the time.
It's important to research your options thoroughly.
Quebec Assessment Simulator