BC now offering integrated loans

November 4, 2011

With the BC and federal government now having integrated their respective student loan programs, BC students only have to sign one loan agreement and make one monthly payment, rather than 2 of each. Students also now have a single service centre to contact. While the new system has been in effect since August for new loan applicants, legislation is needed to update the rules for individuals who received all their BC student aid funding between August 2000 and August 2011. The BC government is amending the Financial Administration Act to allow it to eliminate non-sufficient fund fees for student borrowers to be consistent with federal rules. The province is also amending the Infants Act to allow a student who is a minor to enter into a student loan agreement without needing a guarantor. BC News Release