There are weekly and lifetime maximum funding limits that you should be aware of. Not all students receive the maximum amount.
2021/2022 weekly maximums
- If you have dependant children, you can receive up to $510 per week in combined loan and grant funding.
- If you do not have dependant children, you can receive up to $320 per week of full-time study.
The total amount you receive is determined by the length of your study period.
The following table shows the maximum amount and duration of StudentAid BC funding and in-study interest-free status that you can receive over your lifetime.
|Funding type||$ limit||Time limit|
|Canada student loan (non-doctoral)||340 weeks (80 months)|
|Canada student loan (doctoral)||400 weeks (94 months)|
|Canada student loan (persons with permanent disabilities or received loans prior to August 1,1995)||520 weeks (120 months)|
|B.C. student loan (non-doctoral)||$50,000||340 weeks (80 months)|
|B.C. student loan (doctoral)||$50,000||400 weeks (94 months)|
|B.C. student loan (persons with permanent disabilities)||$50,000||520 weeks (120 months)|
|Canada and B.C. interest-free loan (non-doctoral)||340 weeks (80 months)|
|Canada and B.C. interest-free loan (doctoral)||400 weeks (94 months)|
|Canada and B.C. interest-free loan (persons with permanent disabilities or received loans prior to August 1, 1995)||520 weeks (120 months)|
If you received StudentAid BC funding between Aug. 1, 2000, and July 31, 2006, you are eligible for either $35,000 in B.C. student loans (regardless of program length) or up to 340 weeks of in-study interest-free status, whichever comes first. If you have received less than $35,000 in B.C. student loans by July 31, 2006, your StudentAid BC loan lifetime maximum is $50,000.
In certain circumstances, you can request a review for funding beyond the maximum lifetime limit for StudentAid BC loans. Contact StudentAid BC or your financial aid office for more information on how to appeal, or see appeal category 5 - B.C. student loan lifetime maximum. There is no appeal mechanism for Federal funding beyond the maximum number of weeks.
Once the maximum number of weeks is reached, interest on your Canada-B.C. integrated student loan begins to accumulate but if you remain in continuous full-time studies, you may apply for payment deferral. During the payment deferral period, you are not required to begin repayment until the completion of your studies, as long as confirmation of enrolment is received and approved by the National Student Loan Service Centre (NSLSC). All interest that has accumulated, unless paid, will be added to the principal amount of your outstanding loan balance. You are required to start making payments six months after the completion of your full-time studies.
There is additional information on in-study interest-free status and maximum weeks.