Canada Student Loans and Grants: Eligibility, Repayment, and RAP Explained

Federal and Provincial Mix
Most students receive a combination of federal (CSFA Program) and provincial/territorial aid. Apply through your province’s portal to be assessed for both loans and non-repayable grants based on financial need.

Borrowing Smart
Max out grants and lower-rate government loans first. Consider private/alternative loans only to fill gaps and compare fixed vs. variable rates carefully—especially if you’ll be in school multiple years.

Repayment and Grace Periods
Government student loans typically include a grace period after you leave school. Once repayment starts, you can choose a standard plan or adjust payments to fit your income.

Repayment Assistance Plan (RAP)
If payments are unaffordable, RAP can reduce or defer what you owe based on income and family size. Staying current with paperwork helps protect your credit and keeps interest under control during eligible periods.

Forgiveness Opportunities
Some professions and regions offer partial loan forgiveness or incentives—especially for in-demand fields or service in rural areas. Check your province’s programs annually.

Bottom Line
Apply early, prioritize grants and government loans, and use RAP if needed. A clear plan from day one can save thousands and protect your credit after graduation.