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Canada Student Loans

By Edited Jun 11, 2015 0 0

Paying for school isn't always easy. There are many expenses you need to consider before enrolling. Of course there are the obvious ones, like tuition, but you also have to account for things like textbooks, rent, and food. Of course this won't apply to everyone, some students will be able to save money by living at home. In any case you're going to need funding to successfully complete your studies. No one wants to be financially stressed while trying to be focused on learning.

Luckily for Canadians, paying for school at home is much cheaper than studying internationally. Tuition rates at top schools in Canada are much lower than they would be in the United States. This is partially due to the fact that the government of Canada subsidizes tuition for domestic students. It is one of the many perks of living in a more social country.

But just because tuition is cheaper, does not mean it is easy to afford. Tuition rates at Canadian universities can range from $5 000 - $1000 a year depending on the region, program, and the quality of the school. Specialty schools and grad schools can still be upwards of $20,000.

Luckily it will be fairly easy for most students to obtain Canada student loans. This is a loan that is subsidized by the government so that you can receive it at low or zero interest.

The Canada student loans program works with provinces to provide over half the funding required for post secondary education. You can receive funding for up to $350 per week of study. These loans are better than bank loans because you do not have to pay interest while you are at school. You also do not need to start repaying them immediately after school, typically there is a six-month grace period. These loans typically don't need the guarantee of a cosigner or guarantor. But be aware that getting accepted to these kind of programs can be a little difficult depending on your financial background. If you come from a wealthy family it may be difficult to obtain a loan in this form.

Conclusions

In any case you'll have to find funding for your education. There are many more options for finding loans, whether they come as Canada student loans or not. Do your research and see what you can find. A little bit of time spent on funding can save you a lot of money in the long run.

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