Types of Funding

Types of Repayable Assistance

Nunavut has three types of student loans:

Needs Assessed Loans (NAL):

• Granted to students who are eligible to receive FANS benefits based on financial need.
• A NAL application, which is available online, must be filled out.
• Given in four installments per semester.
• A FANS Need Assessment Loan Second Installment Form must be submitted to receive loan funding for the second semester.
• Must be repaid in full.
• Maximum: $165/week
• Yearly loan maximum: $5610 for 34 weeks of study.

Primary Loan:

• Covers one year of study for every three years that you have attended elementary or secondary school in Nunavut/NWT and have been a resident of Nunavut.
• If you do not return to live in Nunavut for the required period of time, you will have to pay back all or part of the loan (Remission).
• If you are receiving the Basic Grant, your yearly loan amounts are:
• Single student: $3200
• With one dependent: $4000
• Each additional dependent: $500
• If you are not receiving the Basic Grant:
• Single student: $4400
• With one dependent: $5200 -Each additional dependent: $500

Secondary Loan:

• This is for Nunavut residents who are not eligible for the Basic Grant or Primary Loan.
• Must be repaid in full (no Remission).
• If you are receiving the Basic Grant your yearly loan amounts are:
• Single student: $3200
• With one dependent: $4000
• Each additional dependent: $500
• If you are not receiving the Basic Grant:
• Single student: $4400
• With one dependent: $5200
• Each additional dependent: $500

Types of Non-Repayable Assistance

Basic Grant:

• Must be an ordinary resident of Nunavut for a continuous period of at least one year immediately before the date of acceptance for registration, and you must be either an Inuit Nunavut beneficiary or you must have attended elementary and/or high school in Nunavut.
• Tuition and fees covered up to $1250.
• Cost of airfare to the university.

Supplementary Grant:

• Available to Inuit Nunavut beneficiaries who are residents of Nunavut in addition to the Basic Grant.
• Book allowance of up to $200 per semester.
• Monthly living allowance to help cover daily living costs.