At VCC, you can access various types of loans through StudentAid BC. These funds help B.C. residents overcome financial barriers to higher education.
The federal and provincial governments cover interest on student loans during your full-time studies. However, student loans must be repaid after six months of finishing your studies.
You can choose from three types of loans in B.C.
- British Columbia student loans,
- Canada student loans, and
- Part-time Canada student loans.
B.C. student loans are provided by the provincial governmen and th Canada student loans are provided by the federal government. All loans are administered through StudentAid BC, as well as the Canada study grants and the Canada access grants.
A basic principle of StudentAid BC is that the primary responsibility for the funding of post-secondary education rests with students and their immediate families. While the federal and provincial governments cover interest on student loans during full-time studies, student loans must be repaid.
After the assessment of your application, you will receive a Notification of Award by mail at the address on your application. This notification advises you of the amount you may receive.
Many financial aid forms will ask you to list program costs. To help you determine the cost for your VCC program we have an online calculator.
Loan and grant funding is available to students attending post-secondary studies full-time.
Full-time is at least 60 per cent of a full course load (40 per cent for students with a permanent disability, or a persistent or prolonged disability) for at least 6 consecutive weeks. The program of study must lead toward a certificate, diploma or degree. Full-time applies if the student's primary occupation is the pursuit of that program of study.
Loan and grant funding is available to students attending post-secondary studies part-time.
Part-time student is enrolled in 20 to 59 per cent of a full-time course load (20 to 39 per cent for approved students with disabilities).
The Canada Apprentice Loan (CAL) is an initiative of the Government of Canada to help you complete your apprenticeship in a designated Red Seal trade.
Students can apply for up to $4,000 in interest-free loans per period of technical training. The money will be available to you to help pay for tuition, tools, equipment and living expenses, to cover forgone wages or to help support your family.
You will not have to make payments on your CAL, and no interest will accumulate until after you complete or leave your apprenticeship training program.
Visit the Canada Apprentice Loan website for more details and to apply online.