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Loans and Grants Available - Full-Time Students 2013/14

“In-Study” Assistance for Full-Time Students


How Financial Need is Calculated

Costs – Available Resources = Assessed Need

Your eligibility to receive assistance will be determined by assessing your financial need. This is done by adding the costs of your education and living expenses, and then subtracting any money that may be available to you. This determines your assessed financial need—the amount of funding for which you may be eligible.

It is important to keep in mind there are maximum levels of financial assistance available and the full amount of assessed need may not be met. In such situations, (defined as unmet need) students should be aware they may need to secure other forms of financial support to cover the full costs associated with their intended program of study.


Provincial Assistance

Depending on your assessed need, you could receive up to $140 per week of study in provincial loans and grants.

Newfoundland and Labrador Student Loans
The first $60 of the $140 maximum provided by the province is in the form of repayable student loans.

Newfoundland and Labrador Grants
If your assessed need for the provincial portion (i.e., 40%) exceeds $60 per week, the remaining amount (up to a maximum of $80 per week) will be issued in the form of a non-repayable grant.

If you qualify for a provincial grant, payment will be issued no earlier than 6 weeks after the start of classes for the semester, provided you have completed and submitted an Income Confirmation Form. There is no separate application for the grant; eligibility is determined when you apply for a student loan for full-time studies. This grant will be deposited directly into your bank account by the NSLSC after it has been confirmed you are still registered as a full-time student and you have submitted a properly completed Income Confirmation form.

Note: Eligible Memorial University medical students can receive up to a total of $200 per week in provincial assistance; $110 in loans and $90 in grants.


Federal Assistance

Canada Student Loans

Depending on your assessed need, you may be eligible to receive up to $210 per week of study in federal student loans. When you apply and qualify for a Canada Student Loan, you are automatically assessed for Canada Student Grants. A separate application is only required for the Grant for Services and Equipment for Students with a Permanent Disability.

Canada Student Grants

Canada Student Grants provide non-repayable funding to help pay for post-secondary education. All Canada Student Grants are disbursed in two portions: one at the beginning of the school year and one at the mid-point of the school year. You may also be eligible to receive more than one of the Canada Student Grants available.

Grant for Students from Low-Income Families

Students who qualify for a Canada Student Loan and meet the eligibility requirements for the Grant for Students from Low-Income Families can receive $250 per month of full-time studies. This grant is available for all years of a university undergraduate, college or trade program that is at least two years (60 weeks) in duration. Because the amounts for low-income grants are fixed, you could receive more money than your assessed need.

Grant for Students from Middle-Income Families

Students who qualify for a Canada Student Loan and meet the eligibility requirements for the Grant for Students from Middle-Income Families can receive $100 per month of full-time studies. This grant is available for all years of a university undergraduate, college or trade school program that is at least two years (60 weeks) in duration. Because the amounts for middle-income grants are fixed, you could receive more money than your assessed need.

Grant for Full-Time Students with Dependants

Students from low-income families who qualify for a Canada Student Loan and meet the eligibility requirements can receive $200 per month of full-time studies per child who is under 12 years of age at the beginning of the study period.

Grant for Students with Permanent Disabilities

Students with permanent disabilities can receive $2,000 per academic year to help cover the costs of accommodation, tuition and books. As grant amounts are fixed, you could receive more money than your assessed need. To be considered for this grant, you must submit a Verification of Permanent Disability Form when you apply for full-time assistance.

Grant for Services and Equipment for Students with Permanent Disabilities

Students with permanent disabilities who have exceptional education-related costs associated with their disability (such as costs for hiring tutors, note-takers or interpreters, or costs for Braille-related expenses or technical aids), may receive up to $8,000 per academic year. Once your application is processed, you will receive written notification of your eligibility. To be considered for this grant, you must submit the Verification of Permanent Disability Form when you apply for full-time assistance.

The Application for Services and Equipment Form is available at http://www.aes.gov.nl.ca/studentaid/forms/.


 
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