Student loans
and grants
More convenient student loans and grants
Today you can deposit cheques, buy investment products, apply for credit and more — all without leaving your home. The same should be true when it comes to student loans and grants. The work we’re doing will make it possible to request and manage your loans and grants online.
The convenience of electronic identity verification
New full-time students have traditionally had to visit a Canada Post office to have their identity verified and mail in their loan and grant agreements. Now they can complete this step digitally using GCKey — a Government of Canada credential that provides secure access to specific online services — or through banks or credit unions partnered with online identity services provider SecureKey Concierge.
An online portal for student loan management
Development is underway on a secure online portal that will let Canadians with active student loans manage their accounts, including update their contact information, update repayment plans and apply for repayment assistance. Set to launch in 2019, the portal will include an online calculator to help borrowers visualize different repayment options. They’ll also have the option to get payment reminders/notifications on their mobile device, and to access an online chat service to get help when they need it.
Receive your student loan and grant without the trip to the post office
To request financial assistance as a full-time student, you need to confirm your identity. In the past, the only way to do that was by making a trip in person to your local Canada Post outlet. Not anymore. Now you can conveniently and quickly have your identity verified online and submit your loan and grant agreement at the same time.