B.C. completion grant
What is available?
Full-time students who successfully complete each year of their studies may have the B.C. portion of their Canada-B.C. integrated student loan debt reduced by the provincial government.
StudentAid BC sets the yearly completion grant limit for all B.C. post-secondary students based on the number who are eligible and the budget for that program year. Your loan will be reduced by the yearly limit based on your assessed need and the amount of your B.C. student loan.
Loan reductions received through the B.C. completion grant program are applied to your StudentAid BC loan account.
The amount of loan you can have reduced is set by the yearly limit using the total budget for the program and the number of eligible students. The portion of your B.C. student loan that is higher than the yearly limit will be reduced when you successfully complete your studies. The higher your B.C. student loan amount, the more loan reduction will be paid by the completion grant.
The program is available to students with no dependants in their first four academic years of borrowing, and to students with dependants in their first five academic years of borrowing. An academic year is 34 weeks.
Students with dependent children in their fifth year of borrowing from StudentAid BC will have their entire B.C. student loan borrowed during that academic year reduced.
Am I eligible?
You may be eligible if:
- your student loans are in good standing (not restricted, not in default/delinquent/bankruptcy, no provincial or federal overaward restrictions) with Canada-British Columbia integrated student loans and/or other BC and Canada student loans (risk-sharing or guaranteed) or not in default
- you are enrolled in a full-time study program of at least two academic years at a designated Canadian institution
- you have successfully completed at least 30 weeks of study and at least 60% of a full course load during the program year
- you are in your first, second, third or fourth year of borrowing from StudentAid BC (and fifth year for students with dependants)
- you have B.C. student loans over the loan reduction limit established each year
How do I apply?
There is no need to apply. You will automatically be considered for loan reduction each year through information from your StudentAid BC application.