There are various avenues available to you when it comes to financing your education at Interior Academy. It is best to start planning before you apply for a program.
Planning Your Finances
Smart financial planning is important during your post-secondary year if you want to complete your education without a mountain of debt.
There are also many helpful financial planning tools on the CanLearn website.
Interest Free Status
If a student has a previous Canada-BC student loan at the time they return to full-time studies, and do not receive a new Canada-BC student loan, or have a previous student loan from another Canadian province, applying for Interest Free Status provides students a grace period during which they are not required to make student loan payments and interest does not accrue while they are in full-time studies. Visit StudentAid BC or speak with an Academy Director for more information.
Having a long-term educational plan is a way of keeping yourself out of debt.
Access funding through scholarships, awards and bursaries and consider part-time work as financial options to reduce the amount you need to borrow to finance your education.
There are several excellent resources for planning your post-secondary education, including CanLearn’s planning page.
Maximum funding limits for student loans/grants
If you receive a student loan from the federal government or StudentAidBC, the lifetime limit on student financial assistance is 340 weeks, or 520 weeks for students with permanent disabilities. More information is available from CanLearn and StudentAidBC.
Keeping your student loan in good standing
For more information on keeping your student loan in good standing, visit “Know Your Responsibilities” on the StudentAid BC website.
Thinking of withdrawing? Speak with an Academy Director PRIOR to withdrawing from program(s) to understand the impact this may have on student loan funding.
Financial Aid Advising
Academy Directors are available on site. Students must make an appointment by calling +1 (250) 374-5565 or by email: firstname.lastname@example.org
An appointment with one of the Academy Director can help you with:
- Reassessments of student loans
- Student loan appeals
- Reviewing financial aid options (part-time, upgrading, drop in courses)
- Fee deferrals
- Advocacy in dealing with the Ministry of Advanced Education and other agencies
- Information on impact of withdrawals on financial aid funding
- Band funding
- Open Door Group
- In-house payment and financing plans
- Referral to other services