1. How do I apply for Student Loans?
Applying for Student Loans online, will speed up the application process. You can also apply with a paper application, which you can get from the Langara College Financial Aid Department. Note that you must be registered in at least 60% of a full course load (generally 9 credits) in order to be eligible for Student Loans, or in 40% of a full course load if you are a student with a permanent disability.
2. How long will it take to get my Student Loan?
The processing of a paper application takes 4-6 weeks, and if you apply online, processing time will be 3-4 weeks.
3. What other monies are available to help finance my studies?
Langara College offers bursaries to new and returning students, and offers scholarships to returning students. Bursaries are given for financial need. The funds that we have available for distribution are limited, so individual awards are moderate. Scholarships are awarded for academic merit. We also have on-campus employment through the Student Work Assistance Program, the SWAP program. This program will allow you to earn money, if you are a full-time student (part-time if you are a student with a permanent disability). With the exception of the SWAP program and one scholarship, these financial assistance programs are for students who are Canadian citizens or permanent residents. See the Financial Aid Department for application forms and further information. Students may also wish to ask the Department about student lines of credit.
4. What happens with my Student Loan when I drop below 60% enrolment?
The government will be informed should you withdraw to below 60% enrolment. This may put you in a position of overpayment, and you will be required to repay part of your Student Loan funding, prior to receipt of any future awards. If the withdrawal pattern is repeated, you may be advised that no further Student Loan funding will be forthcoming. If you are a SWAP student when you withdraw to below 60% enrolment, you will no longer be eligible for the program.
5. How do I inform previous lenders that I am a full-time student, so that I am not required to make loan payments or have interest accruing on my past loans?
There are different processes and forms for different situations. You may be a full-time student who is currently not in receipt of Student Loans, you may currently be in receipt of B.C. or Canada loans only, or you may be in receipt of both B.C. and Canada loans. Please see the Financial Aid office for assistance and advice re how to keep past lenders informed of your current status.