Types of Funding

Repayable Funding

Funding totals are assessed by an examination of what resources you have available to you and what your total costs are for the school year.
Essentially, the formula is: Allowable Expenses - Resources = Financial Need

Financial Assistance is awarded as loans and bursaries. Funding for bursaries are calculated based on the difference between your calculated need and the loan maximum available to you for the academic year.

Québec Student Loans maximums awarded per year:

• Bachelor's degree - $305/month of study
• Master's and doctoral degrees - $405/month of study
• Bachelor's degree holder - $405/month of study

If you are pursuing university studies outside Québec, an amount is added to the monthly loan amount to cover the compulsory fees charged by the educational institution (maximum $6000/study period).

Non-Repayable Funding

If your financial need exceeds the amount of loan that could be awarded to you, you will receive the loan amount, plus a bursary equal to the difference between your financial needs and the loan.

Example:
Allowable expenses: $8500
Student contribution: - $1000
Parental contribution: -$1000
Financial Need: $6500

Amount of loan that may be granted for the award year concerned:
8 months x $305 = $2440

Financial Need > Loan Awarded
Bursary amount = $6500 - $2440 = $4060

Canada Millenium Bursary

Approximately 20,000 Québec college and university students may be eligible to receive a Millenium Bursary every academic year. The award amount ranges from $1,500 to $4,500, depending on the student’s assessed level of financial need.

Eligibiliy requirements:

• Demonstrate financial need,
• Have successfully completed 60% of a year of post-secondary studies, and
• Be enrolled full-time, in good academic standing, in the second year of undergraduate studies.

Student Loan Debt Limits:

All University degrees and Programs of study outside of Québec, but in Canada - $55 000

All Univerity degrees and Programs of study outside of Canada - $70 000

Note : If you have reached the debt limit for your level of education, type of degree or program, you no longer qualify for financial assistance.