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Student Loans
Explanation and resources for student loans
CMU is recognized as a designated educational institution under the Canada Student Loan program. Government loans for studies at CMU come from two sources: the federal government (generally 60%) and the provincial or territorial governments (generally 40%). To apply for loans, you must fill out an application from your home province/territory for each year that you are studying. These loan programs are intended to supplement the financial resources of students and their families. There is no guarantee that you will be granted financial assistance. The defining features of government student loans are:
- They are interest free while you are in school. Interest only starts to accrue once you are finished school.
- They do not require repayment until six months after you stop going to school.
- They offer interest relief and/or debt reduction assistance for eligible students, depending on their situation.
Application forms for the Canada Student Loan Program may be obtained from your high school, the Department of Education in your home province, admissions staff at CMU, or by clicking on your home Province or Territory from the list below. Those marked with an * allow for you to apply on-line for a student-loan for studies at CMU.
Online Resources for Government Student Loans
Important information for Outtatown students with student loans
If you have applied for a student loan for the semester you are in either Guatemala or South Africa, please ensure you have spoken with the Assistant Director of Enrollment before you depart. This is important as it will help you to successfully negotiate your student loan while you are away.
In most cases, Outtatown students will leave prior to receiving their student loan documents. Hence, you will need to either arrange for someone in your home province to have Power of Attorney on your behalf in order to negotiate your student loan OR you will need to give the Assistant Director of Enrollment two clear photocopies of your Passport (both the photo page and signature page) and two clear photocopies of your SIN (front and back) and two void cheques or two copies from your bank indicating your account there. You will also need to sign off on a form that states: Consent for an alternate individual to communicate student financial account information and to make decisions regarding financial accounts within Canadian Mennonite University.
Generally the alternate person(s) would be a parent or grandparent. You may list as many people as you like. You may return this form back to the Assistant Director of Enrollment or to the Administrative Office.
Note: A legal Power of Attorney must be set up prior to you leaving the country
If you choose to have a Power of Attorney you will need to send a copy of your legal Power of Attorney document, along with a clear copy of your Power of Attorney’s government issued picture ID to the Assistant Director of Enrollment.
Canada Student Loan Documents
A special “Limited or Special Power of Attorney” form is required if you want to give power of attorney to someone for Student Loan purposes. This form can be downloaded here, or go to the Canada Student Loans website. It can then be found under forms and publications.
To negotiate the Canada Student Loan document, the Power of Attorney must take your document to a designated postal outlet (contact the Assistant Director of Enrollment to find a post office near you) along with the “Limited or Special Power of Attorney” form, a certified true copy of your identification (government issued picture ID such as a driver’s license or passport and your Social Insurance Number card) and your banking information (such as a void cheque).
If you have any questions or require further assistance, please contact the Assistant Director of Enrollment, toll free at 1-877-231-4570 or local call 487-3300 ext.658 or by email at GDCampbell@cmu.ca.
You may also be interested in:
Scholarships
Raising Support Through Your Church
Top Ten Ways to Pay for a Year on Outtatown
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