Loans for full-time students from British Columbia

If you are a BC resident in full- or part-time graduate or undergraduate studies at UBC, you may be eligible for government student loan assistance. StudentAid BC funding exists to supplement, not replace, funds available to students through individual and family financial resources, savings, and income.

A full-time loan application evaluates a student’s income and other financial resources against the costs of post-secondary study, including educational costs and typical living costs associated with a moderate standard of living.

Since StudentAid BC funding is intended to supplement other available financial resources, federal and provincial student financial assistance programs have weekly and lifetime in-study payment-free funding maximums. Not all students receive the maximum amount. Refer to StudentAid BC for more information.

The province of British Columbia offers Canada-BC integrated loans to students studying full-time. An integrated student loan has two lenders, the governments of Canada and British Columbia. However, it is administered as a single loan, which streamlines service delivery as students sign a joint federal-provincial loan agreement and have a single point of contact for managing their loans. Residents of BC apply for a student loan through StudentAid BC.

Grant funding

Some students who apply for student loans will be eligible for grant funding, which does not have to be repaid. Your eligibility is based on your application.

Refer to StudentAid BC to view a list of available programs to support students with the cost of post-secondary education.

Dependent and Independent Status Residency requirement

Students are classified as dependent or independent to determine residency and financial need. Please refer to Student Aid BC’s residency requirements to determine your eligibility.

How do I apply?

Apply for a loan at least 2 months before classes start to receive your funding at the beginning of the term, or up to 6 weeks before the end of your study period.

To apply for BC full-time funding, please follow the step-by-step application instructions on the StudentAid BC website.

You should monitor your StudentAid BC account and email inbox for updates on your application status, any changes to your assessment, and communications from the provincial lender.

Maintain your eligibility

To continue being eligible for student loans, you must meet all of the following requirements:

• You are enrolled in an eligible program of study.
• You are making progress in your studies and are in good academic standing in each period of post-secondary study.
• You are maintaining full-time student status. This means you are enrolled in and attending a minimum percentage of a full course load. Learn more about the course load requirements for student loans.

Student loan interest

There is no interest assessed on the provincial portion of your student loan. Effective Apr 1, 2023, the Government of Canada has permanently eliminated the accumulation of interest on the federal portion currently being repaid. You continue to be responsible for paying any interest that may have accrued on your loan before Apr 1, 2023, except during the period of April 2021 to March 2023, when federal interest was waived.

You are not required to make payments until you’ve been out of school for 6 months.

If you return to school with a full-time student loan at a designated post-secondary institution before this 6-month grace period ends, the interest (if any) that has accumulated since your last study end date will be waived and you will be in payment-free status for your new study term.

If you return full-time to school at a designated post-secondary institution but do not plan on applying for full-time loans, you will need to apply for in-study payment-free status through your loan provider for your previous loans to be in payment-free status.

Being in payment-free status means you are in a “funded term” whether you have new loans or not. If you withdraw or have an unsuccessful term, it may affect your eligibility for further assistance.

If you have questions

For help understanding the student loan process, please contact Enrolment Services Advising.