Student Loans

Full-time Student Loan Funding

Student loans are sponsored by the Government of Canada and your provincial government.

Top 12 questions about full-time government student loans

  • You must be a Canadian citizen or permanent resident (Landed immigrant) or have Protected Person status under Canada's Immigration and Refugee Protection Act. If you have a study permit please visit the International student page for more information on how to fund your education.
  • You must be enrolled in at least 60% of a full course load in a post-secondary program of study that leads to a degree, diploma, or certificate.

At Mount Royal, 60% of a full course load for the fall and winter semester is normally equal to at least three university-level courses and a minimum of nine credits each semester.

Students with a documented disability may be eligible to receive full-time funding while studying at a reduced course load. For more information on studying at a reduced course load, please see Accessibility Services.

Applications are usually available mid June and it is best to apply well in advance of your school start date.

It’s recommended that students apply before the end of June  for September study – contact the Student Awards and Financial Aid Office if you need to use your student loan to defer or pay your tuition fees, prior to the tuition fee deadline.

Students attending Mount Royal on a full-time basis normally apply for student loans through the province in which they are from.
  • To determine whether or not you are an Alberta resident (for student loan purposes), visit the Student Aid Alberta  website for further information.
  • If you are still unsure of which province you should apply through, please contact the Student Awards and Financial Aid Office.

Alberta Residents

  • Apply online at Student Aid Alberta 
  • Student Aid Alberta encourages all full-time student to apply online, it is faster and more accurate. You will need to submit a paper application if: you are concurrently enrolled, your spouse/partner does not have a SIN, you previously applied but did not cash loan funding and you do not have Alberta high school course marks or your program or school is not listed in SFS. To request a paper application, call the Student Aid Alberta Service Centre (SAASC) at: 1.855.606.2096 (Option 1)

Non-Alberta Residents:

  • If Alberta is not your home province, but you are interested in attending Mount Royal, you should investigate the student assistance programs offered through your province or territory of residency.
If you are having problems filling out your application, or you would like someone to review your application before you submit it, you are welcome to call or stop by the Student Awards and Financial Aid Office.

If you have applied for a full-time student loan through the province of Alberta:

  • A paper application could take four to six weeks to be approved.
  • If you apply online you may see the results of your assessment immediately.

If you have applied for a full-time student loan through another province:

  • A paper application could take six to eight weeks to be approved
  • An online application could be much quicker (if applicable)

After your application has been processed, you will receive a Notice of Assessment in the mail telling you if you are eligible to receive funding and the amount of the funding. If you are denied funding, it will outline the reason(s).

Alberta Student Aid and the Canada Student Loans Program calculate your eligibility using a Financial Need formula that compares your costs with your resources. The formula is:

Your assessed Financial Need is then compared with the student aid Loan Limits allowed for your study period. The lesser of these two amounts is what you are eligible to receive.

When you submit an application for a full-time government student loan, you will automatically be assessed for the grants and bursaries offered by the federal and provincial governments as part of the student loans program.

For more information on what kinds of grants or bursaries are offered through your provincial loan program, visit the appropriate provincial loan page province or territory of residency page.

Additional grants are available through government student loan programs for students who have exceptional education related costs due to their disability. You should investigate the student assistance programs offered through Student Aid Alberta, or if you do not live in Alberta, through your province or territory of residency.

If students wish to apply for other types of scholarships or bursaries, they should visit the Scholarships & Bursaries page for more information.

Depending on your circumstances, you may want to appeal your student loan and request additional funding to help you cover your expenses.

If you feel like you haven’t been fairly assessed or have had a change of circumstances since your application, contact the Student Awards and Financial Aid Office to have someone review your original assessment and help you prepare an appeal.

If you don’t receive enough government funding, or you don’t qualify for government funding at all, may want to look into securing a Student Line of Credit through a bank.

In order to have a deferral prior to the fee payment deadline, you must confirm with Student Awards and Financial Aid office (Room E102) that you will be receiving government funding. Once a loan is signed by the University, payment of fees for any courses that are then added (e.g. waitlist or program adjustment) is your responsibility. If any changes remain outstanding on the fee payment deadlines, you will be deregistered from all classes.
You can check if the tuition has been deferred by logging into MyMRU and going to the following screenClick Register & Pay

  1. Click Detailed fee information
  2. Click Student at the top of the page
  3. Click Pay Fees, Pay Deposits and Account Summaries
  4. Click Pay Fees (Credit Students)

If you have not been approved for a student loan:

If you are thinking of dropping or withdrawing to less than full-time status please contact the Student Awards and Financial Aid Office to discuss how it will affect your government funding.

If you withdraw from studies or drop to part-time status before the end of the academic session for which loan assistance was granted, your future disbursements will be cancelled.

The Student Awards and Financial Aid Office is required to notify your provincial Student Finance Office that you have withdrawn.

As a borrower, you are responsible for repaying your student loan; principal and interest, Your lender will notify you of the terms, payments and conditions of your student loan within six months after you stop being a full-time student. Please notify your lenders if any of your contact information changes.

You have a six month grace period before you are required to start making payments after you cease being a full-time student.

  • Alberta student loans - Student Aid Alberta will not charge interest on your loans for the first six months before you begin repaying. This means you will have six months of interest-free Alberta student loans with no payments required
  • Canada student loans - Interest on your Canada student loan starts accumulating just after you stop studying full-time. You'll start making payments six months later.

The Repayment Assistance Plan, available for both Alberta and Canada student loans makes sure your monthly payment is in sync with your income and family size. 

It is important that you communicate with all of your lenders to ensure your loans remain in good standing. If you wish to contact your lender, please see the Lender Contacts page.

You could also check out the Student Loan Repayment Webinar

While you are enrolled as a full-time student, your government loans are interest-free – as long as your lender knows you are full-time.

If you are full-time and have previous student loans, and are NOT receiving student aid this year, you'll want to let your lenders know so your loans can remain interest-free with no payments required.

  • Complete the Confirmation of Registration - Reinstatement (Form B) within 30 days of your period of study start date,  if you only have a previous Alberta student loan, or previous Canada and Alberta student loan.
  • Use the NSLSC's Online Services to submit a Confirmation of Enrolment request online, or complete a Confirmation of enrolment form (Schedule 2) if you only have a previous Canada student loan.

If you have prior government student loans through another province, you will need to request:

  • a Schedule 2 for your federal loans, and
  • the appropriate confirmation of enrolment form for your provincial loans

If you are full-time and are receiving student aid this year, once you cash your current student loan(s) your student loan you received  previously are automatically put back into interest-free status.