Government Student Loans and Grants

Full Time Students

BC Residents
Eligibility for Financial Assistance

BC offers Canada-BC integrated loans that requires only one application. If you are eligible for financial assistance, you could receive the following:

  • ​BC access grant for students with permanent disabilities
  • BC supplemental bursary for students with permanent disabilities
  • BC access grant for labor market priorities
  • Canada-BC integrated student loan
  • Canada Student grant for full-time students
  • Canada student grant for persons with dependents (under 12 years of age)
  • Canada student grant for persons with permanent disabilities
  • Skills boost top-up to the Canada student grant for full-time students
BC Residency Requirement​
Dependent

The Canadian province in which your parent(s), step-parents(s), sponsor or legal guardian have lived most recently for 12 continuous months.

Independent

The Canadian province in which your parent(s), step-parents(s), sponsor or legal guardian have lived most recently for 12 continuous months (excluding any time spent in fill-time post-secondary study). For more information go to the B.C. Residency Requirement page.

Apply Online at StudentAid BC

The StudentAid BC Online application for full-time studies (for classes starting between August 1 and July 31 the following year) is available in Early June.

NOTE: Students in semester based diploma and degree programs at Okanagan College needs to complete separate student loan application for each semester of study.

Course Load Requirement

You must be enrolled in and attend a minimum of 60% course load (or 40% course load for students with permanent disabilities as approved by StudentAid BC) for the entire educational period covered by your application. The minimum 60% course load requirement as outlined by Okanagan College is:

  • All university transfer, degree and diploma programs: 9 credits per semester
  • All vocational, trades and health certificate programs: the full program as outlined in the Okanagan College Calendar
  • NOTE: If you will be taking less than the full program, you must speak with a Financial Awards Assistant to ensure you are enrolled in right amount of course load

Previously passed courses and courses which are audited or waitlisted, Adult Academic and Career Preparation (upgrading), and Prior Learning Assessment (PLA) are NOT counted in the minimum course load requirement. It is your responsibility to ensure that the courses you are registered in meet the minimum course load require. Should you have any questions, please contact the Financial Aid & Awards Office.

Other Province/Territory Residents

If you are from another province/territory, you will need to apply through your home province/territory. You can access contact information and website links to all provinces and territories on the CanLearn website.

Part Time Students

BC Residents

If a student is in a full-time student loan eligible program but taking the program on a part-time basis, they can apply for part-time funding. Part-time students are enrolled in 20% to 59% course load (or 20% to 39% for students with permanent disabilities as approved by StudentAid BC). The 20% to 59% course load requirement as outlined by Okanagan College is:

  • All University transfer, degree and diploma programs: 3 to 6 credits per semester
  • All vocational, trades and health care certificate programs: please speak with a Financial Awards Assistant to ensure you are enrolled in right amount of course load

BC offers Canada-BC integrated loans that requires only one application. If you are eligible for financial assistance, you could receive the following:​

  • BC supplemental bursary for students with disabilities
  • Canada student grant for part-time students
  • Canada student grant for part-time students with dependents
  • Canada student loan for part-time students
  • Canada student grant for student with permanent disabilities

BC students please go to the part-time funding application.

Other Province/Territory Residents

If you are from Saskatchewan, Manitoba, Nova Scotia, New Brunswick, Newfoundland and Labrador, Prince Edward Island or Yukon, you can download the Part-Time Canada Student Loan and Grant Application 2018-2019.

If you are from Alberta or Ontario, please visit the corresponding website to submit your part-time application online.

Apprentice Students

Canada Apprentice Loan

Apprentices registered in a Red Seal trade apprenticeship program who meet the eligibility requirements for Canada Apprentice Loan (CAL) may receive up to $4000 in interest-free loans per period of technical training.

The purpose of the Canada Apprentice Loan is to provide apprentices registered in Red Seal trades with loans to assist with the costs of attending technical training.

Visit Canada Apprentice Loan for more information and the online application.

Apprenticeship Completion Grant

The Apprenticeship Completion Grant (ACG) is a one-time taxable cash grant of $2,000 maximum available to registered apprentices who have successfully completed their apprenticeship training and obtained their journey-person certification in a designated Red Seal trade on or after January 1, 2009.

Apprenticeship grants are provided to increase access to apprenticeships in the Red Seal trades by helping apprentices cover expenses such as the purchase of tools and other materials required for learning on-the-job and travel expenses associated with classroom training.

Visit Apprenticeship Completion Grant for more information.

Training Tax Credit for Apprentices

There are three types of training tax credits:

  • Basic credit for the first two levels of non-Red Seal training programs
  • Completion credit for level 3 or level 4 for both Red Seal and non-Red Seal training programs
  • Enhanced credit for First Nations individuals and persons with disabilities

Visit Training Tax Credit for Apprentices for more information.

Apprentice Incentive Grant

The Apprentice Incentive Grant helps pay for expenses while you train as an apprentice in a designated Red Seal Trade. It is a taxable grant of $1,000. 

For eligibility and how to apply, visit Apprentice Incentive Grant Overview for more information.  

Apprentice Incentive Grant for Women

The Apprentice Incentive Grant for Women is a taxable grant of $3,000 that helps pay for expenses while you train as an apprentice in a designated Red Seal Trade where women are underrepresented.

For eligibility and how to apply, visit Apprentice Incentive Grant for Women for more information. 

Interest-Free

Eligibility for Interest-Free Status

You are eligible for interest-free status if you:

  • Are attending Okanagan College full-time
  • Have started (or are within 30 days of starting), or have not finished your study period
  • Have not received funding for your current study period
  • Have student loan in good-standing

BC students please apply through StudentAid BC.

Ontario students please apply through Ontario Student Assistant Program.

For student from other Provinces/Territories, please apply through the National Student Loans Service Centre (NSLSC).

NOTE: if you are receiving a loan for the current study period, you DO NOT need to request for interest-free status as once funds are released your file will be marked as “in class.”

Paying Back Your Loans

Repayment Information
  • Interest starts accruing immediately after you leave school, but you have a grace period of 6 months in which no payment is required. Repayment will start on the seventh month after you leave school. Visit Paying Back your Canada Student Loan for more information.

  • If you cannot afford the monthly payment on your student loan, there are Repayment Assistance plans available. Visit Repayment Assistance for more information.

  • Elimination of Interest on BC Student loans took effect on February 19, 2019. Students are responsible for paying any interest accumulated on BC student loan prior to February 19, 2019. Interest will continue to be charged on the Canada Student Loan portion of your student loan.  For more information, visit Eliminating Interest on BC Student Loans

Loans are funding that the student is required to repay.

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