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HOME / POST SECONDARY AND CONTINUING EDUCATION / STUDENT FINANCIAL SERVICES /

How long are you eligible for a loan?

Canada and Prince Edward Island Student Loan Assistance is available for the number of years of the program a student is studying plus one additional year of study. There is a lifetime borrowing limit of 340 weeks of study, including interest free assistance.

Students who have previously received student loan(s) for a particular program of study (diploma, degree) are eligible for a student loan for a subsequent program only if the subsequent program is related academically to the first one and is a progression in level (eg. B.A. to M.A. or Office Studies to Information Technology). A change in programs will not normally qualify a student for additional years of student loan funding.

Students must successfully complete at least 60% of a full-time course load in each study period. Verification of successful completion of the last year funded by a student loan is required from all students.

If you don't successfully complete your previous study period you will be required to verify successful completion of each subsequent period or term. Failure to maintain a satisfactory scholastic standard during this period will result in the loss of eligibility for financial assistance.