Financial Advisors
Our financial aid team is available to guide you through every step of the financial assistance process. You may qualify for funding you didn’t even know was available!
GD College’s financial advisors stay informed about the latest scholarships and financial awards for our students. They’ll help you assess your eligibility, guide you through the application process, and work with you to secure funds before starting your program.
Government Student Loans
The Governments of Canada, Alberta, and Ontario offer loans to qualifying students. Although the amount and type of aid may vary depending on individual circumstances, government student loans ensure that all eligible students receive financial support for their education.
Student Lines of Credit
Full-time and part-time students can access Student Lines of Credit to help finance their studies. Unlike traditional loans, lines of credit allow you to borrow as needed, with interest only on the amount used. Most major banks offer student lines of credit, though eligibility criteria (such as credit score and net worth), loan amounts, and interest rates will vary between institutions. Contact your preferred bank or credit union for more information.
Loan Repayment Guide for Graduates
Congratulations on graduating! As you step into the next phase of your career, it’s important to remember the repayment of your student loans.
Federal Student Loans for Canada
National Student Loans Service Centre (NSLSC)
- Phone: 1-888-815-4514
- Fax: 1-888-815-4657
- NSLSC Website
- Terms and Conditions
- Payment Options
Contact the NSLSC for further details.
Provincial Student Loans
- BC/SK/MB/ON/NL/NB/YK: These provincial loans are repaid through the NSLSC in combination with federal loans.
- AB/NS/PE: For these provinces, the federal loan is repaid via the NSLSC, while the provincial loan is repaid through your province.
- QC/NT/NV: Provincial loans for Quebec, Northwest Territories, and Nunavut are repaid directly to the province or territory.
Grace Period for Repayment
After graduation, a government-provided grace period allows time to find a job before starting loan repayments. Federal loans require repayment within six months, while provincial loans give you up to twelve months. Making payments early can reduce the principal, lowering the interest charged when payments begin.
The Importance of Repayment
As with any loan, missing payments can lead to penalties, fees, and damage to your credit score. It may also prevent you from receiving future financial aid or grant assistance, and you could lose tax refunds or GST rebates. To avoid issues, stay on top of your repayment obligations and notify your loan servicer of any changes in your contact information or financial status.
Repayment Assistance
If you’re struggling with your payments, you can apply for government assistance through Student Aid.
