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Deadline for filing an application for financial assistance

Applications for financial assistance must be filed no later than 60 days after your last month of study in the award year concerned.

Applications filed after the deadline must be accompanied by an attestation, deemed satisfactory, that proves that circumstances beyond your control prevented you from filing your application earlier.

Any document requested must be provided within 45 days. If it is not received within that period, the assessment of your file will be suspended.

Assignment of interest and loan repayment

The total exemption period is the period in which you are exempted from repaying your student loan debt and the interest charges on that debt because you are a full-time student.

This period begins when you are awarded your loan under the Loans and Bursaries Program. It terminates at the end of your last month of full-time studies.

Your partial exemption period begins the month after your total exemption period ends. The partial exemption period is a six-month grace period during which you are not required to repay the principal on your student loan debt. However, you become responsible for the interest charges, which the government ceases to pay. You can either begin paying the interest or you can capitalize it, that is, have it added to the principal.

If you resume full-time studies during the partial exemption period, you will not have to start repaying the interest on your student loan debt.

Award year

The award year begins on September 1 and terminates August 31.

Guarantee certificate

To receive the assistance that has been approved for you, you must have your Guarantee Certificate, which is given to you at the beginning of your studies. This document is valid as long as you are a student. However, if you interrupt your studies for more than six months, a new certificate will be issued when you begin studying again, provided you are eligible for financial assistance.

Your guarantee certificate is required to begin receiving the financial assistance instalments that have been approved for you. To obtain the financial assistance to which you are entitled, you must submit your guarantee certificate before the expiry date indicated on the certificate to a branch of one of the following financial institutions located in Québec:

• Desjardins caisse
• Bank of Montreal
• Laurentian Bank
• National Bank of Canada
• Royal Bank of Canada

Payment of financial assistance

During the school year, the assistance granted to you is deposited directly in your bank account each month if you are entitled to a loan and a bursary, or at the beginning of each study period if you are only entitled to a loan.

Over the course of the award year, your financial assistance will be paid to you in the form of a loan, even if you are entitled to a bursary. At the end of the school year, following verification of your income by Revenu Québec, the government will repay the bursary portion of your financial assistance to your financial institution.