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What Else Should I Know About Grants and Loans?
- You have to submit an application for loans and grants for every year of study. If you do not apply for financial assistance during one year of study, your educational institution needs to sign a confirmation of enrolment.
- Many provinces and territories have a formal reassessment process for students who disagree with their assessed loan amount. Find out more by calling your Student Financial Assistance Office (see Provincial Student Loans for details).
- While there are exceptions, you normally get two payments of your approved loan money in a year, depending on when you apply: one at the beginning and the other in the middle of the school year.
- For more information on disbursement dates, check with your school’s student financial assistance office.
- Lifetime limits for Canada Student Loans vary: For example, full-time students who received loans on or after August 1, 1995 are eligible to receive student financial assistance for a maximum of 340 weeks. Whereas, full-time students enrolled in doctoral studies are eligible to receive student financial assistance for a maximum of 400 weeks. Students with a permanent disability and those who received Canada Student Loans before August 1, 1995 are eligible to receive student financial assistance for a maximum of 520 weeks.
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