esdc.gc.ca

Upvotes received1
Downvotes received1
Karma:-1 (upvotes-downvotes)



0 earned Badges

No badges were found



Definitions (110)

1

1   1

parental contribution


This is the amount that parents, step-parents, sponsors or legal guardians of single dependent students are expected to contribute towards the costs of the students' education, based on financial ability. Parental contributions vary according to family income, size and allowable deductions.
Source: esdc.gc.ca

2

0   0

accumulated income payment


This is a payment that subscribers get from income earned on money put into a Registered Education Savings Plan (RESP). It also includes income earned on Canada Education Savings Grants and Canada Learning Bonds.
Source: esdc.gc.ca

3

0   0

accrued interest


This is interest that has accumulated on the principal of a loan but has not yet been paid. Calculating accrued non-repayment-period interest: To calculate the interest that has accumulated on your loan during your six-month non-repayment period, use the following formula: principal of loan (at the end of studies) X interest rate (Prime + 2.5% or 5 [..]
Source: esdc.gc.ca

4

0   0

additional canada education savings grant


The Additional Canada Education Savings Grant (Additional CESG) is a matching grant of either 10% or 20% on the first $500 in annual contributions made to an eligible beneficiary's Registered Education Savings Plan (RESP). (Contributions must have been made on or after January 1, 2005.) The Additional CESG is money over and above the basic Can [..]
Source: esdc.gc.ca

5

0   0

affordable loan payment


Under the Repayment Assistance Plan, an affordable loan payment is calculated based on family income and family size and cannot exceed 20 percent of the borrower's income. Borrowers are eligible for repayment assistance if their affordable loan payment is less than their required payment.
Source: esdc.gc.ca

6

0   0

amortization period


The amortization period (also known as the repayment period) is the length of time it will take to pay off the principal and interest of a loan. The normal repayment period for a student loan is 9.5 years or 114 monthly payments.
Source: esdc.gc.ca

7

0   0

appeal


This is a review or reconsideration of a student loan assessment. To ask for a review, you must submit a written request to your provincial or territorial student financial assistance office outlining the details and reasons for the appeal.
Source: esdc.gc.ca

8

0   0

apprenticeship


This is a program where a student works with a mentor to learn a skilled trade while gaining on-the-job work experience.
Source: esdc.gc.ca

9

0   0

arrears


Your loan is in arrears when you have missed one or more scheduled loan payments. If you do not make any payments on your Canada Student Loan for 270 consecutive days, you are considered to be in default.
Source: esdc.gc.ca

10

0   0

assessment


A borrower's provincial/territorial student financial assistance office does an assessment to determine the borrower's financial need.
Source: esdc.gc.ca


To view all 110 definitions, please sign in.