Student Loan Information
StudentAid BC + Canada Student Loans
Canadian students requiring financial assistance to help meet their educational expenses may apply for a Canada Student Loan. Applications are made to the province in which the student is a resident. If you are a BC resident, you would apply to StudentAid BC
Canada Student Loan assistance is awarded on the basis of financial need and information provided by the students, their parent(s) and/or spouse.
Students are encouraged to apply online in early July to avoid late payment charges to the College. Contact the Financial Aid Office
for important details about the loan application process including important dates and course load guides.
Paying Back Your loan
Your loans are interest-free while you are registered full-time at an approved post-secondary institution. Payment begins six months after you withdraw or cease full-time study. It is your responsibility to inform the National Student Loan Service Centre of your enrolment if you wish to maintain interest-free status.
Any full-time student who, after applying for a student loan, changes their course load and would subsequently drop to part-time status should contact an academic advisor
prior to withdrawing from these courses. Changes to your course load may disqualify you from funding and/or result in overawards.
If you are taking courses at another institution to supplement your courses at St. Mark's College, you must notify the Financial Aid Officer. Failure to notify the Financial Aid Office of your entire course load can negatively impact your funding.
Part-time Canadian students requiring financial assistance may apply for a Part-Time Canada Student Loan. If you are a BC resident, you would apply to StudentAid BC.
These interest-bearing loans are calculated on the basis of the student’s financial situation and cover basic university expenses such as tuition, books, and childcare. Repayments of these loans begin thirty (30) days from the date on which the loan was negotiated.
Deferred tuition payment
Tuition and fees must be paid by the first day of the semester. If you have submitted a student loan application, you may be eligible for deferred tuition payment to avoid late payment penalties from the College. To apply for deferred payment, complete an Payment by Student Loan form
and submit by email to the Financial Aid Office
or in person at the front desk before the first day of the upcoming term.
Students who are receiving government students loans and have additional demonstrated financial need are eligible to apply for College bursaries. The amount of each bursary will vary based on need.
An applicant must submit the following:
- Short essay explaining the circumstances which make it necessary for you to apply for a bursary
- Copy of Student Loan Notification of Assessment
Contact the Financial Aid Officer
for Student Loan support.