Consolidating student loans in canada

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Federal student loan amounts and terms for loans issued in 2019-20 Stafford loans are for undergraduate, graduate and professional students enrolled at least half-time. A subsidized loan is awarded on the basis of financial need, and the government pays the interest before repayment begins or during authorized periods of deferment.

Unlike Stafford loans, PLUS borrowers are generally required to pass a credit check.

Guaranty agencies pay off the lenders when borrowers default, and in turn, are reinsured by the Department of Education.

The National Council of Higher Education Resources (NCHER) also has a fact sheet with a list of guaranty agencies.

There are limits on the amount in subsidized and unsubsidized loans that you may be eligible to receive each academic year (annual loan limits) and the total amounts that you may borrow for undergraduate and graduate study (aggregate loan limits).

The actual loan amount you are eligible to receive each academic year may be less than the annual loan limit.

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