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Lifetime Loan Limit


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Just wondering if anyone reached their Canada student loans lifetime loan limit while still in medical school.  I thought it was limited by amount and not by the number of weeks and found out that I have reached my lifetime limit, though I should still be eligible for provincial loans as I'm nowhere near the maximum provincial limit. If you had to deal with this, were you able to keep your Canada student loans interest free while still a student and did you have any trouble receiving the full amount of funding with provincial loans?  Thanks!

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This is an interesting point you bring up. I did 6 yrs of undergrad which equals like.. 312wks of study. I have paid off the federal loan and have some left over in provincial loan. Alberta loan goes by the amount and not the number of wks of study. I'm relying on the loan to fund DMD education.. thanks for making this post. I'm calling their office tomorrow to get some information.

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This is an interesting point you bring up. I did 6 yrs of undergrad which equals like.. 312wks of study. I have paid off the federal loan and have some left over in provincial loan. Alberta loan goes by the amount and not the number of wks of study. I'm relying on the loan to fund DMD education.. thanks for making this post. I'm calling their office tomorrow to get some information.

Not unless you were in school all 52 weeks of the year.

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"The standard lifetime loan limit is 340 weeks. This includes every week of study you received Canada Student Loans and grants, and includes any time you had interest-free status on your Canada Student Loans."

 

I hope you're right, but I'll be conservative with my interpretation of the eligibility.

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From what I can tell, summers don't count as interest free time, but my time in graduate school did.  It's frustrating because the reason I'm at my limit is because $1000 of my loan in first year undergrad was a Canada Student Loan, so even though I worked throughout grad school to make sure I didn't need more student loans, it still counted against me.

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