Loan Eligibility

Your loan eligibility is determined on the basis of your income and, as applicable, the income of your parents, sponsor and/or spouse.

To find out if you are eligible for a loan, perform the calculation that corresponds to your student category

Students without a parental (or sponsor's) contribution

Eligibility
Base amount $43 575
Multiply the number of dependent children by $3 042 and enter the result.
If you do not have any dependent children, enter 0.
Number of dependent children ______ X $3 042 = $______
+ $______
If you are a single parent, enter $2 278. If not, enter 0. + $______
Your eligibility threshold  = $______
Enter your eligibility threshold. $______
Enter your total income for 2016 (line 199 of your income tax return). - $______
  = $______

If the result is positive, you are eligible for a loan.

Students with a spousal contribution

Eligibility
Base amount $62 250
Multiply the number of dependent children by $3 042 and enter the result.
If you do not have any dependent children, enter 0.
Number of dependent children ______ X $3 042 = $______
+ $______
Your eligibility threshold = $______
Enter your eligibility threshold.     $______
Add your total income for 2016 (line 199 of your income tax return) and your spouse's total income, and enter the result.
$______ + $______ = $______
  - $______
  = $______

If the result is positive, you are eligible for a loan.

Students with a parental (or sponsor's) contribution

Eligibility
Base amount $62 250

Add your total income for 2016 (line 199 of your income tax return) and your parents' or sponsor's total income, and enter the result.
______ $ + ______ $ = ______ $

  - $______
Your eligibility threshold  = $______

If the result is positive, you are eligible for a loan.

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