Qualifying for a Student Loan

550,000 students applied for government loans in 2013-14

If you’re graduating from high school with plans to pursue post-secondary education, you might be wondering how you will be able to afford it.  You’re not alone.  Reports show that half of Canadian students need to apply for loans at some point in their education, with 40 per cent of those borrowers expecting to owe at least $25,000.

But that’s assuming you qualify for a loan.  A number of factors go into your eligibility for student loans, and can influence how much  you are able to borrow.

Jeff Schwartz, executive director of Consolidated Credit Counseling Services of Canada, spoke with CreditCards.ca about how you can qualify, and what your options are if you don’t.

Click here to read the article.

 

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