How to Apply for Student Loans in Canada 2025 Paying for college or university in Canada can be expensive, but don’t worry — there are several options available to help cover your costs. Student loans, both federal (through the Canadian government) and provincial, can bridge the gap between what you have and what you need.
Whether you’re a Canadian citizen or an international student, understanding how the student loan process works in Canada will help you make smarter financial decisions as you plan for your education.
In this article, we’ll walk you through the steps to apply for student loans in Canada in 2025, discuss the difference between government and private loans, and give you helpful tips to manage your repayment later on.
How to Apply for Student Loans in Canada 2025 What Are Student Loans in Canada?
In Canada, most students rely on two types of financial assistance:
- Government student loans, provided through federal and provincial programs.
- Private student loans, offered by banks and other private lenders.
Federal loans are offered through the Canada Student Financial Assistance Program (CSFA Program), while each province or territory also has its own system for managing loans and grants.
For example:
- Ontario uses OSAP (Ontario Student Assistance Program)
- British Columbia students apply through StudentAid BC
- Quebec runs its own independent system
2. Why Start with Government Loans First?
If you’re wondering whether to take out a government or a private loan, it’s best to start with the government loan. Why?
Because:
- Government loans often come with lower interest rates
- They offer income-based repayment plans
- You may qualify for non-repayable grants alongside loans
- You don’t need a credit history or co-signer
Private loans may help if you’ve hit your borrowing limit or don’t qualify for public loans, but they often carry higher interest and stricter terms.
3. How to Apply for Government Student Loans in Canada
Step 1: Determine Your Eligibility
To qualify for Canadian government student loans in 2025, you must:
- Be a Canadian citizen, permanent resident, or protected person
- Be enrolled in an approved post-secondary program
- Be studying full-time or part-time (conditions vary)
- Demonstrate financial need
International students usually do not qualify for government loans, but may apply for private loans or school-specific aid.
Step 2: Apply Through Your Province or Territory
Even though the federal government provides a portion of the student loan, applications are submitted through your province of residence. Each province has its own application portal and deadlines.
Here are a few examples:
- Ontario (OSAP): https://www.ontario.ca/osap
- British Columbia (StudentAid BC): https://studentaidbc.ca
- Alberta (Student Aid Alberta): https://studentaid.alberta.ca
Make sure to apply early, as processing times can take weeks.
Step 3: Gather the Required Documents
You may need:
- Your Social Insurance Number (SIN)
- Bank account details
- Proof of identity (driver’s license, passport, etc.)
- Your most recent tax return (or your parent’s if you’re a dependent)
- School details (name, program, tuition costs)
Step 4: Submit Your Application
Most provincial portals allow you to apply online. It typically takes about 30 to 60 minutes to complete the form.
You’ll be assessed not just for loans, but also for grants and bursaries — money you don’t have to repay.
4. How to Apply for Private Student Loans in Canada
Private loans might be an option if:
- You don’t qualify for a government loan
- You’ve already maxed out your government aid
- You’re an international student
Here’s how to apply:
- Compare lenders: Look at interest rates, repayment options, and eligibility rules from major banks like RBC, TD, Scotiabank, or CIBC.
- Check your credit: Some lenders may require a co-signer, especially if you’re young or have no credit history.
- Submit your application: Provide your SIN, proof of income (or your co-signer’s), tuition estimate, and school info.
Pro Tip: Some private lenders offer student lines of credit, which give you more flexibility in how and when you use the funds.
5. When to Apply for Student Loans in Canada
- Government loan applications usually open in spring or early summer for the upcoming academic year.
- Apply at least 8 to 10 weeks before your program starts to ensure funds are ready in time.
- Private loan timelines vary by lender, but it’s smart to apply 1 to 2 months before your tuition due date.
6. What Happens After You Apply?
Once your application is processed:
- You’ll receive a Notice of Assessment detailing how much aid you qualify for.
- If approved, your tuition will be paid directly to your school, and any remaining amount will be sent to your bank account.
Make sure to read your loan agreement and understand when your repayment will begin. Most government loans offer a 6-month grace period after graduation before you need to start making payments.
7. Tips to Reduce How Much You Borrow
Use a loan calculator to project your monthly repayment before accepting funds
Apply for scholarships and grants from your school or private organizations
Work part-time during school to cover living expenses
Budget wisely so you don’t borrow more than you truly need