For many students, loans are a useful way to help cover the costs of post-secondary studies.
Have questions about student loans? Book an appointment or email your questions to our financial aid and awards counsellor.
All federal, provincial, and territorial governments in Canada offer student loan programs to help offset the costs of post-secondary education.
Students with U.S. citizenship or dual citizenship (Canadian and American) attending Mount Allison may be eligible for U.S. Direct Loans.
Mount Allison offers small loans to students that will provide funds to purchase your books and other course-related materials directly from the MtA Bookstore.
Financial Institution Student Lines of Credit
In addition to government student loan programs private institutions such as banks, trust companies, and credit unions may offer student loan options.
It is important to fully review and understand the terms of your loan, including repayment terms, before borrowing.
How to apply
Students can apply for a student line of credit through their financial institution. (examples: RBC, TD, ScotiaBank etc...) When approaching a financial institution for a student line of credit, you will be required to provide a variety of documentation. We suggest your prepare for these meetings or applications by readily having:
- Confirmation of enrollment (request via Connect)
- Estimate of educational costs (visit mta.ca/fees)
- A list of financial resources at your disposal for the upcoming academic year. For example, RESP, savings, scholarships, bursaries, employment, or student loans and grants.
- Proof of Canadian citizenship or landed immigrant
- A Canadian co-signer: required for student lines of credit (co-signer is a person obligated to pay back the loan just as you, the borrower, are obligated to pay)