Official Guidelines Updated: March 2026
Important Update for 2025–2026:
For the 2025–2026 school year, the weekly Canada Student Loan limit for full-time students remains at the temporarily increased amount of $300 per week of study (up to $10,200 for a standard 34-week academic year). This increase is in place until July 31, 2026. Federal student loans remain permanently interest-free — there is no interest on the federal portion at any point, whether you are studying or repaying.
The Canada Student Loan for Full-Time Students is the main federal loan program for Canadians pursuing post-secondary education full-time. Unlike grants, loans must be repaid — but Canada Student Loans come with significant protections: they are permanently interest-free on the federal portion, payment-free while you are in school, and backed by flexible repayment options if you face financial difficulty after graduating.
Your loan amount is based on your assessed financial need — the gap between your education costs (tuition, books, living expenses) and what you and your family are expected to contribute. When you apply for a Canada Student Loan, you are automatically assessed for applicable Canada Student Grants at the same time, which can reduce or eliminate the amount you need to borrow.
Eligibility Criteria
To qualify for the Canada Student Loan for Full-Time Students, you must meet the following requirements:
- Be a Canadian citizen, permanent resident, or protected person.
- Have a valid Social Insurance Number (SIN).
- Be enrolled full-time — generally at least 60% of a full course load per term, or 40% if you have a permanent disability.
- Be enrolled in an eligible program at a designated institution that participates in the Canada Student Financial Assistance Program.
- Demonstrate financial need as assessed through your provincial or territorial student aid application.
- Be in good standing on any previous Canada Student Loans.
- Maintain satisfactory academic progress throughout your studies.
- Not be a resident of the Northwest Territories, Nunavut, or Quebec — these provinces and territories administer their own student financial assistance programs.
Pro Tip:
You do not apply separately for Canada Student Loans and Canada Student Grants. One application through your province or territory’s student aid office assesses your eligibility for both at the same time — grants are applied first to reduce what you need to borrow.
How Much Can You Borrow?
For the 2025–2026 school year, full-time students can borrow up to $300 per week of study. For a standard 34-week academic year, that works out to a maximum of $10,200 in federal student loan funding.
The exact amount you receive depends on your assessed financial need — the Canada Student Financial Assistance Program covers up to 60% of your calculated need, with your province or territory typically contributing to the remainder. You will not necessarily receive the maximum; you receive what your need assessment determines.
The $300 weekly limit reflects a temporary increase (from the standard $210) that has been extended through July 31, 2026.
What Can the Loan Be Used For?
Canada Student Loan funding can be applied toward a broad range of education-related costs, including:
| Education Costs | Living Costs |
|---|---|
| Tuition fees | Rent and housing |
| Books and course materials | Food and groceries |
| Student fees and supplies | Transportation |
| Laboratory or equipment fees | Childcare (if applicable) |
| Technology required for studies | Other day-to-day living expenses |
Interest and Repayment
Canada Student Loans have several built-in protections that make them significantly more borrower-friendly than private loans:
- Permanently interest-free: As of April 1, 2023, the federal government eliminated interest on all Canada Student Loans — permanently. You will never pay interest on the federal portion of your loan, whether you are studying or repaying. Note that some provincial portions of integrated loans may still carry interest, depending on your province.
- Payment-free while in school: No payments are required while you are enrolled full-time. Your loan remains interest-free and payment-free automatically — you do not need to apply for this.
- Six-month non-repayment period: Repayment begins six months after you graduate, leave school, or drop below full-time status. This grace period gives you time to find employment before payments begin.
- Standard repayment term: The default repayment period is 10 years, with fixed monthly payments. You can customize your payment terms through your National Student Loans Service Centre (NSLSC) account — extending the term reduces monthly payments but increases total repayment time.
Important:
Starting May 25, 2025, you must access your NSLSC account through a My Service Canada Account (MSCA) login for enhanced security. If you haven’t already linked your accounts, do this before you need to manage your loan or apply for repayment assistance.
Repayment Assistance Plan (RAP)
If you are struggling to make your loan payments after graduation, the Repayment Assistance Plan (RAP) can reduce or eliminate your monthly payments based on your income and family size:
- If your family income falls below the threshold, your monthly payment may be reduced to $0. Single borrowers earning under $40,000 per year may qualify for zero payments.
- For those who earn more, payments are capped at a maximum of 10% of household income.
- The government covers any interest owing on the federal portion of your loan that your reduced payment does not cover.
- After 60 months on RAP, or 10 years after leaving school, the government begins paying down both the principal and any remaining interest.
- Any remaining federal loan balance is forgiven after 15 years of repayment (or 10 years for borrowers with a permanent disability under RAP-D).
- RAP is approved in 6-month periods — you must reapply every six months to remain enrolled.
Apply for RAP through your NSLSC account at any point once repayment begins.
Canada Student Loan Forgiveness
In addition to RAP, certain professionals providing in-person services in eligible rural or remote communities may qualify for Canada Student Loan Forgiveness. As of December 31, 2025, the list of eligible occupations was expanded and now includes:
- Doctors and nurses
- Dentists and dental hygienists
- Pharmacists
- Midwives
- Teachers and early childhood educators
- Social workers
- Physiotherapists and psychologists
- Personal support workers
Eligibility is tied to full-time service, community size (generally under 30,000 population), and a defined period of employment. Visit Canada.ca for the full list of eligible occupations and application requirements.
How to Apply
Apply through your province or territory’s student aid office — one application assesses your eligibility for both federal and provincial loans and grants simultaneously. Your province processes the application and determines your total funding package. Funds are disbursed at the start of each study period, with your institution receiving notification electronically to confirm enrolment.
Other Federal Financial Aid Options
A Canada Student Loan works best when combined with non-repayable support. When you apply, you are automatically assessed for Canada Student Grants — funding you never have to pay back. You may also be eligible for Federal Student Scholarships and Federal Student Bursaries.
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