Government Financial Aid

The Canada Student Loans Program is the financial assistance program in the form of loans and grants administered by the federal government and the nine participating provinces to assist eligible students to supplement the cost of postsecondary education. Please note that applicants must apply for a provincial or territorial student loan through their province of residence and must meet all eligibility and residency requirements. Further details are available on provincial student loan websites. Students are advised to apply early for government student loans, as it can take up to 12 weeks to process following receipt of the application.

For further information, contact the appropriate Provincial Student Loans Office or the Financial Aid and Awards Advisor in CMCC's Division of Student Services. For your convenience, the web addresses for Provincial Student Loan Offices are listed below. Additional information can be retrieved from www.cmcc.ca/financialaid, in the financial aid office at CMCC or through the Canada Student Loans Program at the www.canlearn.ca website

Students who enrol at CMCC on a study permit who wish to apply for government financial aid must contact the Financial Aid and Awards Advisor to determine CMCC's eligibility to administer financial aid from their home country.

CMCC is an approved institution under the Province of Ontario's Student Assistance Program (OSAP) for 2015-2016. This approval is granted annually, and CMCC has held this status continuously since 1988. Students attending CMCC are therefore eligible for assistance from OSAP.

Provincial and Territorial Student Assistance Offices

Alberta (Alberta Learning Information Service, Alberta Human Resources & Employment)

http://alis.alberta.ca/ec/fo/pay/loans-grants.html

British Columbia (Student Services Branch, Advanced Education, Training and Technology)

https://studentaidbc.ca

New Brunswick (Student Services Branch, Department of Advanced Education and Labour)

http://www2.gnb.ca/content/gnb/en/departments/post-secondary_education_training_and_labour/Skills/content/FinancialSupport/StudentFinancialServices.html

Prince Edward Island (Student Aid Division, Department of Education)

https://www.princeedwardisland.ca/en/topic/student-loans-bursaries-grants-and-awards?utm_source=redirect&utm_medium=url&utm_campaign=studentloans

Newfoundland & Labrador (Student Aid Division, Department of Education)

http://www.aesl.gov.nl.ca/studentaid//

Nova Scotia (Student Assistance Office, Department of Education and Culture)

https://www.ednet.ns.ca/

Ontario (Student Affairs Branch, Ministry of Training, Colleges and Universities)

https://www.ontario.ca/page/osap-ontario-student-assistance-program

As announced in the 2016 Ontario Budget, there will be significant changes to the Ontario Student Assistance Program (OSAP) beginning in the 2017-2018 academic year. For more information please visit the site at OSAP Ontario Budget - Improving Access to Postsecondary Education.

Saskatchewan (Student Financial Assistance, Post-Secondary Education and skills Training)

www.saskatchewan.ca/residents/education-and-learning/student-loans

Yukon (Students Financial Assistance Unit, Department of Education)

http://www.education.gov.yk.ca/student-funding.html

Northwest Territories(Student Financial Assistance, Department of Education, Culture and Employment

https://www.ece.gov.nt.ca/en/services/student-financial-assistance

Nunavut (Department of Education, Financial Assistance for Nunavut Students)

http://gov.nu.ca/family-services/programs-services/financial-assistance-nunavut-students-fans

Québec(Service de l'accueil et des renseignements, Aide financière aux études, Ministère de l'Éducation)

http://www.afe.gouv.qc.ca/

Loans, Funds, Financial Aid

Bank Loans

All major financial institutions have student loan programs and/or lines of credit available to CMCC students in all years. You need to be aware of the yearly and overall maximums that can impact your long term financial budgets for the four year CMCC program. Please contact your bank for details such as eligibility requirements, interest rates and applications.

Emergency Loan Fund

CMCC maintains an emergency loan fund for students. The maximum is $500, which must be repaid within 30 days. Students must submit written proof to substantiate the status of the emergency. Emergency loan application forms may be obtained from the Office of Student Services.

Students’ Council Emergency Fund

The Students' Council maintains an emergency loan fund. The maximum is $500, which must be repaid within sixty days. Students in financial need must submit written proof to substantiate the status of the emergency. Emergency loan application forms may be obtained from the Students’ Council Office.

**For U.S. Students**

CMCC has been granted provisional certification until December 2017 for participation in US Financial Aid programs from the US Department of Education.

Return to Title IV Policy

U.S. federal student aid is awarded to U.S. students who are in attendance at CMCC for the entire study period. If a student ceases to become a full-time student at any time prior to completion, they must report their withdrawal from the program in writing to the Registrar’s Office and may no longer be eligible for the full amount of Title IV funds awarded. Title IV federal student aid includes U.S. Direct Loans (subsidized and unsubsidized), Parent PLUS loans or Grad PLUS loans).

U.S. federal aid regulations mandate a Return to Title IV Funds (R2T4) calculation when a student withdraws from CMCC. The percentage of aid that must be returned by the student and CMCC is based on the number of days in attendance and by the number of days remaining in the study period. A repayment would not be required if you attend more than 60% of the semester before withdrawing.

If you withdraw from all your courses prior to completing over 60% of a semester, you may be required to repay a portion of the federal financial aid that you received for that term. A pro rata schedule is used to determine the amount of federal student aid funds you will have earned at the time of the withdrawal.

The financial aid office will determine the percentage Title IV aid earned and return the unearned portion to the appropriate aid program on behalf of the student. For further information see the U.S. Student Aid website at: https://studentaid.ed.gov/