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For the first 6 months after graduation, finishing studies, or no longer being a full-time college or university student: no loan payments are needed; interest is charged on the Ontario portion of the student loan; interest will not accrue on the Canada portion of the student loan [25] This is a 6-month grace period.
Grants may supplement loans to aid students who face particular barriers to accessing post-secondary education, such as students with permanent disabilities or students from low-income families. Canada Student Loans of up to $210 per week of full-time study or 60% of the student's assessed need (the lesser of these) can be issued per loan year ...
[3] These policies generally include a tuition fee that is large enough to give parents or guardians "a responsibility to cover some portion of their children’s higher education costs." [3] This responsibility can make it difficult for a low-income student to attend college without requiring a grant or one or more loans.
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Several lenders refinance student loans for low-income borrowers. Here are our top picks: Education Loan Finance : Requires a minimum annual income of $35,000 and a credit score of at least 680.
An education loan is a loan taken out by the student (or parent) to pay for educational expenses. Unlike scholarships and grants, this money must be repaid with interest. Educational loan options include federal student loans, federal parent loans, private loans, and consolidation loans.
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