possible to apply for two provincial loans??

[dentopia11]

I was wondering if it is possible to apply for two provincial loans if you satisfy the requirement for both??

I have been an Ontario resident but since finishing university moved to work in another province...If I satisfy the requirement for both loan programs, would I be eligible to apply to two provincial loans given that I am returning to Ontario for school?

 

thanks

[The Ace of Spades]

You could, but the limits on each would be reduced.

[mavrik13]

I don't think it is possible to meet the eligibility criteria for two different provincial loans. It can be complicated if you're married/common law, but essentially it boils down to where you have lived for the last 12 consecutive months while you were not a post-secondary student. If you were a resident of Ontario prior to university, but have moved to another province to work... you are a resident of your new province if you've worked there for at least 12 months; otherwise, you wouldn't meet the criteria for your new province, and would quality for OSAP based on living in Ontario for 12 months prior to your undergrad (b/c you were there during high school).

[Vdoon]

The Alberta student loan agreement states that by signing you agree not to hold a student loan from any other province at the same time. I'm not sure what is in the fine print of the others.

[dentopia11]

thanks for the replies..i was not aware that its not allowed to apply for two different provincial loans at the same time...