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Canada Renovation Loan Grants, loan calculator canada.#Loan #calculator #canada


loan calculator canada

This Grant offers financial assistance to low-income households who own and occupy substandard housing to enable them to repair their dwellings to a minimum level of health and safety. It is called the Residential Rehabilitation Assistance Program (RRAP).

Homeowners may apply if: the value of their house is below a specified figure; and their household income is at or below established ceilings (limits) based on household size and area.

Properties must be lacking basic facilities or require major repair in one or more of five categories: structural; electrical; plumbing; heating; fire safety. Assistance may also be available to alleviate overcrowding. Other criteria may be applicable. Consult CMHC Canada Mortgage Housing Corporations.

Ask your Area CMHC Consultant what assistance is available for your situation?

The maximum loan amounts available vary according to the three geographic zones. Additional assistance may be available in areas defined as remote. Maximum Total Loan Maximum Forgiveness

Southern areas of Canada

Maximum Loan amount $18,000

Maximum Loan Forgiveness $12,000

Northern areas of Canada $21,000

Maximum Loan Forgiveness $14,000

Far northern areas, Northwest Territories, Yukon, Labrador and northern Quebec

Maximum Loan Amount $27,000

Maximum Loan Forgiveness $18,000

IMPORTANT: Work carried out before the loan is approved in writing is not eligible for funding under this program.

Other CMHC programs are available to assist eligible Canadians with repairs to substandard housing, housing modifications and adaptions for persons with disabilities and seniors.

In some areas of Canada, the Government of Canada, and the provincial or territorial government provide funding for these or similar programs jointly. In these areas, the provincial or territorial housing agency may be responsible for delivery of the programs. Program variations may also exist in these areas.


Loans Canada – Canadian Loan Directory, Payday Loans Canada, loans canada.#Loans #canada


Your Loan

  • Mortgages
  • Mortgages
  • Payday Loans
  • Payday Loans
  • Personal Loans
  • Canadian Personal Loans
  • Credit Cards
  • Canadian Credit Cards
  • Auto Loans
  • Canadian Auto Loans
  • Small Business Loans
  • Canadian Small Business Loans

Financial institutions in Canada offer various forms of financing to individual clients, businesses, and organizations. Clients who seek financing for the purchase of real estate usually apply for a mortgage loan. Builders and homebuyers can apply for financing through an intermediary, or they can do this directly. The features of mortgages vary from lender to lender, including the interest rate, the maturity and size of the loan, and the method of repayment. Different types of mortgages are offered on the market, the two basic types being the adjustable-rate mortgage and the fixed-rate mortgage. Other types of mortgages are reverse mortgages, endowment, interest rate, graduated payment mortgages, etc.

Home loans are typically advanced to borrowers who seek to buy a condominium or a house. The term home loan describes a variety of products used to refinance, purchase, or draw down against a property. While the term was formerly applied to loans used for owner occupied properties, it has been expanded to cover a variety of secured loans. A home loan can be used for business investment, buying an investment property, renovations, and traditional home purchases.

Personal Loans form another category in that borrowers receive a lump sum payment from a financial institution and are free to use it for different purposes. These loans are normally unsecured, and borrowers do not need to offer collateral to be approved. Collateral may be required if a person seeks to borrow a larger amount. In other cases, financial institutions only require a decent credit score to extend financing. Student Loans are a special form of financing intended for students. They are designed to help students meet their living expenses and pay for books, tuition, accommodation, etc. Student Loan Consolidation differ from other types of financing in that the schedule of repayment may be different, and the interest rate is usually lower.

Auto Loans are used to purchase an automobile. An auto loan is a personal, unsecured loan, which is extended based on the borrower’s integrity, creditworthiness, and ability to pay it back. The subprime auto loan is one variety, which is offered to persons with limited credit histories and substandard or poor credit score. While there is no cutoff score, they carry higher rates of interest compared to prime loans. Financial institutions may impose prepayment penalties in case the borrower repays the loan before the term. Bad Credit Loans are also offered to persons with no or limited credit history or substandard credit score. In Canada, the interest rates, terms, minimum amounts, and restrictions vary from lender to lender. The interest rate may vary from 12 percent to 600 percent depending on the lender and the province of residence. The loan amount also varies – from $200 to $3,000, and the minimum term can be anywhere between zero days and 3 years.

Payday loans are offered with extremely high rates of interest most of the time. A payday loan is a term denoting short-term financing used to meet one’s expenses until their next paycheck arrives. A payday loan, known as cash advance, has to be repaid in full until the next payday. Credit Cards, on the other hand, are in the form of a line of credit, with issuers creating a revolving account. Cardholders can make purchases or borrow money as cash advance too. They can choose between making the minimum payment only, paying more than the minimum, or paying the balance in full. There are different types of credit cards, depending on one’s preferences and requirements. Clients can choose from cash back credit cards, no annual fee credit cards, low interest credit cards, rewards credit cards, and other types.

Small Business Loans are yet another form of financing, specifically intended for business owners who seek to modernize, expand, improve, or establish small businesses. To this, the CSBFP encourages financial establishments in the country to offer financing to small businesses. It shares the risk with financial institutions and helps business owners secure up to $500,000. Small business loans can be used for different purposes such as buying or improving real estate and land, improving used machinery or equipment, buying new equipment, and improving leased properties or buying leasehold improvements.

Finally, business owners and individual borrowers may choose to consolidate loans. They can consolidate multiple debts (both credit card debts and loans) into one. Debt consolidation results in a lower rate of interest, longer periods of repayment, and more manageable payments. Business debt consolidation is beneficial in that it allows businesses to lower the cost of debt, restructure their debt, prepare for expansion, and manage their credit profiles. This may involve conversion to long-term debt, invoice factoring, or discharge of debt with the purpose of saving interest costs in the long term. Make sure you bookmark our site.


Canada payday loans online: no credit check, bad credit, direct lender, loans canada.#Loans #canada


Canada payday loans online. No bad credit check cash advance

guaranteed no fax (faxless) for unemployed

Loans canada

For everyone who temporarily finds himself in an hour of need in terms of financial scrutiny we dedicate this free educational material aimed at getting the audience closer acquainted with the basic mechanisms of payday loans direct lender canada. Firstly, the direct payday loan dealers do not require any documents being dispatched to them, which exclude the necessity of tiresome and time consuming procedures. It is common knowledge that they involve a lot of lining up for submitting your request at a canadian payday loan retailer’s and collecting all the required documents in order to qualify for a cash advance. What we offer our clients is a revolutionary approach to issuing no employment check payday loans. As the name itself suggests, such types of money crediting is based upon the principles of omitting the stage where the borrower has to collect and then present his or her documents to the direct lender as a guarantee being an eligible payday loan customer. With no documents needed the instant approval stops being a problem for the borrowers. Instant delivery of the required amount of money to your bank account speaks in favor of these loans.

  • Savings account: money deposited into your bank account
  • No faxing documents
  • Guaranteed direct lenders only
  • No application fees
  • Instant online approve
  • No job verification

There are, nevertheless, other regulations and norms according to which no credit check payday loan are managed. One of these rules is that the person who places the cash advance inquiry needs to be of full age (older than 18). Also, the majority of such bank services are short-term, which means that the money borrowed in the process of no employment verification cash advance and needs to be returned within the period of the ensuing 2 weeks; but you should keep in mind that the exact period of no teletrack cash advance money return may vary from one dealer to another, and you should in every case make all the necessary inquiries with the customer support team representative of the no fax payday loans canada as to the particular terms on which the cash advance is granted to you, including the period for which the money is lent to you. They just cannot belong to long term debts as they were supposed to give a temporary relief for the person at the period when it is necessary for him to make the ends meet. You should also study the terms and the policy of the retailer issuing instant approval payday loans with bad credit to avoid unwanted ambiguity. Fast one hour payday loans is the most democratic type of cash advance that can be claimed by an individual, and its terms are arranged so that to grant the customer as much convenience as it is possible. You will have quick delivery deposited on prepaid debit card – what else can be more convenient than that? Just go to the nearest ATM to receive the funds for your urgent necessity. Cheap rates do not affect the quality of service.


Bad Credit Loans – View Loans for People with Bad Credit – New Zealand, bad credit loans canada.#Bad #credit #loans #canada


Bad Credit Loans

Landing in money difficulties is a situation that many New Zealanders are familiar with. But what happens if you are desperate and no bank will accept your loan application? A bad credit loan could come to the rescue. Offered by independent lenders, bad credit loans are useful for emergency cash needs. Many bad credit loans are offered online so you can apply confidentially. Use the chart below to compare bad credit loans, and don’t forget to look at essential features such as the interest rate, how much does it cost to take the loan? Also check the terms and requirements as well as the loan amounts. Before you apply for a bad credit loan make sure that you read the terms and conditions to ensure that you understand your financial obligations.

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If you wish to speak to someone: Contact Us

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If you have been refused a loan because of a bad credit rating a Bad Credit Loan get help you get the money you want


You are not alone if you have a bad credit rating.

There are thousands of people across New Zealand who have a poor credit rating. If you have a poor credit report you will struggle to get the financing you want through the banks. This is because you are considered to much of a risk for them to take.

What is a Bad Credit Loan?

A bad credit loan is especially designed for people with a bad credit history and those who have been refused for a loan elsewhere. You will find that you can take out more money for more time with a bad credit loan than with a payday loan.

Rebuild your credit score

Bad credit loans can be particularly useful for rebuilding or building your credit score. As long as you are responsible and make payments on time your credit rating will improve which will result in better loan conditions in time. With a better credit rating you will be able to borrow more money and be offered lower interest rates in the future.

Make sure you know the risks

The interest rates on bad credit loans can be considerably higher when compared to other types of loans because the lender sees you as more of a risk due to your credit history. If you miss payments you risk falling into debt as a result of having to deal with late charges and interest fees that can easily accumulate. Furthermore, with a bad credit loan, you risk damaging your credit rating even further.

Choosing a Bad Credit Loan

There are a lot of lenders offering bad credit loans for you to choose from. It is really important that you take the time to find the right lender and the right loan. When deciding on which loan to go for you need to make sure you read the terms and conditions of the loan thoroughly so as to make sure there are no surprises. Use the table above to compare different types of bad credit loans to help you find the one most suited to you.

How to compare bad credit loans

An important question you should ask yourself when you are looking at bad credit loans is what can the borrowed fund be used for? Most providers allow you to spend the money on what you would like to, however you should check that providers do not put any restrictions on these before you apply. In addition, some lenders provide great benefits which you should look out for, such as repayments breaks or low early repayment charges. Always read the terms and conditions before you commit yourself to a loan.


Payday Loans – View all Payday Loans in South African – Get Up to R2000 Today, payday loans canada.#Payday #loans #canada


Payday Loans – Cash Loans

Payday loans canada

A payday loan is a short term loan that is best used to cover urgent financial expenses like paying a bill, paying for repairs to your home or car or you might just need some extra cash before your pay check comes through. Whatever the reason, an application can be competed in minutes because they are designed to be a fast and easy way to get a cash advance, often on the sameday. These types of loans are paid back in full plus interest on your next payday and are not the answer to any long term financial difficulties. You can be eligible for a payday loan even with a poor credit history although the exact amount you can borrow might depend on your credit score. With payday loans becoming such a popular financial product there are many loan providers out there.

If you wish to speak to someone: Contact Us

The term annual percentage rate describes the interest rate for a whole year (annualized), rather than just a monthly fee/rate

LOAN AMOUNT

Amount you can borrow

MIN TERM

Minimum borrowing period

MAX TERM

Maximum borrowing period

ID REQUIRED

Identification required to apply

SUITABLE

Applicants the loan is suitable for

TERMS

Terms and conditions of loan

RESTRICTIONS

Restrictions regarding potential borrowers

Wonga

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Identification

South African ID Number; cell phone (to receive a PIN)

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Suitable

For those seeking a short term financial solution to a short term cashflow problem

Payday loans canada

Terms

South African ID number,over 18 years, employed and a bank account in your name

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Restrictions

You must be employed and have a South African ID number in order to qualify. You must be over 18 years old and have a bank account in your name

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Services

Short term credit provider

Advantages

Disadvantages

1. Our service has an annual interest rate of 60%, in line with the regulations set out in the NCA, But remember a Wonga loan is only for between one day and a month – so actually you’re paying just 0.164% interest a day

Get Bucks

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Identification

Initially South African ID number, employment and residential details.

Payday loans canada

Suitable

For South African residents with all credit backgrounds looking for a solution to a short term cash flow problem

Payday loans canada

Terms

You must have a Bank Account and be a South African resident

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Restrictions

You must have a Bank Account and be a South African resident

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Services

Payday Loan Lender

Advantages

1. Borrow any amount between R500-R4000

Disadvantages

1. There is an initiation charge for each loan to cover the service delivery promise of being effective and fast

SA Payday Loans

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Identification

Initially residential and financial details

Payday loans canada

Suitable

For individuals looking for a fast cash loan of up to R15000

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Terms

See website for details

Payday loans canada

Restrictions

Not available if you are self employed

Payday loans canada

Services

Advantages

Disadvantages

Not much information provideid before application

If you wish to speak to someone: Contact Us

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Compare Payday Loans and Cash Loans

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Payday loans have been heavily criticised but can a payday loan ever be the right solution?

The truth about Payday Loans

Payday loans are everywhere these days and the industry is booming but what is a payday loans?

Payday loans are small loans where no credit checks are required. This means that whatever your financial history you are likely to be approved. Payday loans have short terms and must be paid back quickly, usually on your next payday, hence the name.

Payday loans are a fast way of getting emergency money. You can apply, get approved and have the money in your account often on the sameday. Some lenders can even get the money to you in as little as 15 minutes! They are designed to help you cover your expenses until your next paycheque.

Why are Payday Loans so popular?

An increasing amount of people are turning to payday loans to help them make ends meet. Payday loans can help you cover an unforeseen expense such as household bills, home repairs and buying essentials like petrol, food and travel.

With no credit checks the loans are very accessible. The only requirements are usually that you are over 18 and have a South African bank account. The application process is easy and fast and can take only a few minutes to complete. You can get the money you want from the comfort of your own home either online or with some companies via text.

Are Payday Loans as bad as they say?

Payday loans can be very costly and are a more expensive than other methods of borrowing. This is because the interest rates are very high as these are unsecured loans which can be given to people with bad credit ratings. However, they are designed for short term borrowing so if you do decide to take one out you need to be responsible and pay back the amount plus the interest as soon as possible.

If you miss payments you can quickly fall into a debt problem. This is because the fees and charges that come with late payments can be expensive and can easily accumulate. Not only can you fall into debt but you also risk damaging your credit score which will be used against you.

Remember that payday loans are for short term borrowing and should never be used to solve any long term financial difficulties you might have.

Is a Payday Loan right for you?

Payday loans can be a good solution for quickly and easily borrowing cash during an emergency if you don’t have other financial options such as credit cards or savings account.

Treat payday loans as a last resort.

Finding a Payday Loan

As payday loans are so popular there are many lenders vying for your business. It is definitely worth taking the time to research the market to see what is on offer. You can use the table above to find the right payday loan for you.

It is important that you read the small print on a payday loan and understand how the loan works. Also look at what happens if you miss payments.


Loans Canada – Canadian Loan Directory, Payday Loans Canada, loans canada.#Loans #canada


Your Loan

  • Mortgages
  • Mortgages
  • Payday Loans
  • Payday Loans
  • Personal Loans
  • Canadian Personal Loans
  • Credit Cards
  • Canadian Credit Cards
  • Auto Loans
  • Canadian Auto Loans
  • Small Business Loans
  • Canadian Small Business Loans

Financial institutions in Canada offer various forms of financing to individual clients, businesses, and organizations. Clients who seek financing for the purchase of real estate usually apply for a mortgage loan. Builders and homebuyers can apply for financing through an intermediary, or they can do this directly. The features of mortgages vary from lender to lender, including the interest rate, the maturity and size of the loan, and the method of repayment. Different types of mortgages are offered on the market, the two basic types being the adjustable-rate mortgage and the fixed-rate mortgage. Other types of mortgages are reverse mortgages, endowment, interest rate, graduated payment mortgages, etc.

Home loans are typically advanced to borrowers who seek to buy a condominium or a house. The term home loan describes a variety of products used to refinance, purchase, or draw down against a property. While the term was formerly applied to loans used for owner occupied properties, it has been expanded to cover a variety of secured loans. A home loan can be used for business investment, buying an investment property, renovations, and traditional home purchases.

Personal Loans form another category in that borrowers receive a lump sum payment from a financial institution and are free to use it for different purposes. These loans are normally unsecured, and borrowers do not need to offer collateral to be approved. Collateral may be required if a person seeks to borrow a larger amount. In other cases, financial institutions only require a decent credit score to extend financing. Student Loans are a special form of financing intended for students. They are designed to help students meet their living expenses and pay for books, tuition, accommodation, etc. Student Loan Consolidation differ from other types of financing in that the schedule of repayment may be different, and the interest rate is usually lower.

Auto Loans are used to purchase an automobile. An auto loan is a personal, unsecured loan, which is extended based on the borrower’s integrity, creditworthiness, and ability to pay it back. The subprime auto loan is one variety, which is offered to persons with limited credit histories and substandard or poor credit score. While there is no cutoff score, they carry higher rates of interest compared to prime loans. Financial institutions may impose prepayment penalties in case the borrower repays the loan before the term. Bad Credit Loans are also offered to persons with no or limited credit history or substandard credit score. In Canada, the interest rates, terms, minimum amounts, and restrictions vary from lender to lender. The interest rate may vary from 12 percent to 600 percent depending on the lender and the province of residence. The loan amount also varies – from $200 to $3,000, and the minimum term can be anywhere between zero days and 3 years.

Payday loans are offered with extremely high rates of interest most of the time. A payday loan is a term denoting short-term financing used to meet one’s expenses until their next paycheck arrives. A payday loan, known as cash advance, has to be repaid in full until the next payday. Credit Cards, on the other hand, are in the form of a line of credit, with issuers creating a revolving account. Cardholders can make purchases or borrow money as cash advance too. They can choose between making the minimum payment only, paying more than the minimum, or paying the balance in full. There are different types of credit cards, depending on one’s preferences and requirements. Clients can choose from cash back credit cards, no annual fee credit cards, low interest credit cards, rewards credit cards, and other types.

Small Business Loans are yet another form of financing, specifically intended for business owners who seek to modernize, expand, improve, or establish small businesses. To this, the CSBFP encourages financial establishments in the country to offer financing to small businesses. It shares the risk with financial institutions and helps business owners secure up to $500,000. Small business loans can be used for different purposes such as buying or improving real estate and land, improving used machinery or equipment, buying new equipment, and improving leased properties or buying leasehold improvements.

Finally, business owners and individual borrowers may choose to consolidate loans. They can consolidate multiple debts (both credit card debts and loans) into one. Debt consolidation results in a lower rate of interest, longer periods of repayment, and more manageable payments. Business debt consolidation is beneficial in that it allows businesses to lower the cost of debt, restructure their debt, prepare for expansion, and manage their credit profiles. This may involve conversion to long-term debt, invoice factoring, or discharge of debt with the purpose of saving interest costs in the long term. Make sure you bookmark our site.


Canada payday loans online: no credit check, bad credit, direct lender, bad credit loans canada.#Bad #credit #loans #canada


Canada payday loans online. No bad credit check cash advance

guaranteed no fax (faxless) for unemployed

Bad credit loans canada

For everyone who temporarily finds himself in an hour of need in terms of financial scrutiny we dedicate this free educational material aimed at getting the audience closer acquainted with the basic mechanisms of payday loans direct lender canada. Firstly, the direct payday loan dealers do not require any documents being dispatched to them, which exclude the necessity of tiresome and time consuming procedures. It is common knowledge that they involve a lot of lining up for submitting your request at a canadian payday loan retailer’s and collecting all the required documents in order to qualify for a cash advance. What we offer our clients is a revolutionary approach to issuing no employment check payday loans. As the name itself suggests, such types of money crediting is based upon the principles of omitting the stage where the borrower has to collect and then present his or her documents to the direct lender as a guarantee being an eligible payday loan customer. With no documents needed the instant approval stops being a problem for the borrowers. Instant delivery of the required amount of money to your bank account speaks in favor of these loans.

  • Savings account: money deposited into your bank account
  • No faxing documents
  • Guaranteed direct lenders only
  • No application fees
  • Instant online approve
  • No job verification

There are, nevertheless, other regulations and norms according to which no credit check payday loan are managed. One of these rules is that the person who places the cash advance inquiry needs to be of full age (older than 18). Also, the majority of such bank services are short-term, which means that the money borrowed in the process of no employment verification cash advance and needs to be returned within the period of the ensuing 2 weeks; but you should keep in mind that the exact period of no teletrack cash advance money return may vary from one dealer to another, and you should in every case make all the necessary inquiries with the customer support team representative of the no fax payday loans canada as to the particular terms on which the cash advance is granted to you, including the period for which the money is lent to you. They just cannot belong to long term debts as they were supposed to give a temporary relief for the person at the period when it is necessary for him to make the ends meet. You should also study the terms and the policy of the retailer issuing instant approval payday loans with bad credit to avoid unwanted ambiguity. Fast one hour payday loans is the most democratic type of cash advance that can be claimed by an individual, and its terms are arranged so that to grant the customer as much convenience as it is possible. You will have quick delivery deposited on prepaid debit card – what else can be more convenient than that? Just go to the nearest ATM to receive the funds for your urgent necessity. Cheap rates do not affect the quality of service.


Short Term Loans Online – Fast – Easy Cash Loans from Ferratum Canada, loans canada.#Loans #canada


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Use your short term loan to deal with any financial situation from vehicle repairs, rent payments, credit card debt and more.

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Trending Frequently Asked Questions

Who can apply for a short term loan?

We welcome applications from Canadians living in Alberta, British Columbia, and Ontario. All you need is a personal e-mail address, a mobile phone number, a bank account, and be over 21 years of age.

How much can I borrow?

We offer loans between $100 to $1,000 and you can apply for as much as you need. Once our secure system has determined your approved amount, simply acknowledge your loan agreement, and we’ll deposit your funds directly to your bank. It’s that simple with Ferratum.

Do I need to be employed?

No, you do not need to be employed to apply for a Ferratum short term loan. Our 100% automated system considers all types of income sources during your application.

Do you check my credit?

At Ferratum, we never check your credit score or pull a credit report.

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Canada Student Loans, loans canada.#Loans #canada


Canada Student Loans

The Canada Student Loans Program is the largest program offering student financial assistance to Canadians. It was created by the Government of Canada to make postsecondary education accessible to students with financial need. In addition to student loans, the federal government also provides non-repayable funding in the form of grants through the Canada Student Grants Program.

The federal government works in partnership with most provincial/territorial governments to coordinate the delivery of student loans and grants. Jurisdisctions participating in Canada Student Loans Program include all province and territories except Qu bec, the Northwest Territories and Nunavut (non-participating jurisdictions operate their own financial assistance programs and receive alternative funding from the federal government).

Eligibility Criteria

Canada Student Loans are available for full-time and part-time study at designated schools (including certain postsecondary institutions outside of Canada). You must meet all of the following conditions in order to qualify:

  • be a Canadian citizen, permanent resident of Canada or a designated protected person;
  • be a resident of a province or territory that participates in the Canada Student Loans Program
  • demonstrate financial need;
  • be enrolled in at least 60% of a full course load if a full-time student (40% for students with permanent disabilities), or 20-59% of a full course load if a part-time student (20-39% for students with permanent disabilities);
  • be enrolled in a degree, diploma or certificate program with a duration of at least 12 weeks (within a period of 15 consecutive weeks) at a designated postsecondary institution;
  • pass a credit check if you are 22 years of age or older and applying for the first time;
  • must not have already exceeded the maximum lifetime limit of financial assistance (in most cases the limit is 340 weeks, including interest-free status, and up to 400 weeks for doctoral students); and
  • maintain a satisfactory academic standard in order to keep receiving financial aid.

Amount Available

The amount of funding available through the Canada Student Loans Program is calculated on the basis of assessed financial need. Assessed need is the difference between allowable educational costs and the amount you are expected to contribute based on available financial resources.

Assessed Need = Allowable Costs Resources

For full-time students, the Canada Student Loans Program provides 60% of the assessed need, up to $210 per week of study; the remaining 40% may be provided through the provincial student loans program. You can receive Canada Student Loans for the number of years in your academic program, plus one extra year if needed to complete the program. There is a maximum lifetime limit of 340 weeks of assistance for full time students (extended by an additional 60 weeks for students enrolled in doctoral studies).

Part-time students can receive up to $10,000 (in combined principal and interest) in Canada Student Loans over the period of studies. There is no maximum time limit of assistance for part-time students.

Application Process

The federal and provincial governments work together to provide loans to students with financial need. You must apply through the student financial assistance office of your province or territory of permanent residence. A single application will allow you to be considered for provincial student loans, Canada Student Loans and most Canada Student Grants. You must apply every year to receive funding. Remember to review your provincial financial aid program, as you may be eligible for additional forms of assistance that require a separate application.

You are encouraged to apply online to speed up the assessment process. If you want to submit a paper application, the forms can be obtained from your provincial student financial assistance office or at your school.

Check with your provincial student financial assistance office for deadline dates and processing times. The amount of time it takes for a loan application to be processed can vary from a few business days to several weeks depending on your application method (online versus paper), time of year and province. Incomplete documentation can also cause delays. It is best to apply early so you can receive your assessment and funding sooner.

Your provincial student financial student office will assess the completed application and send a notice of assessment notifying you of the outcome. If you qualify for a student loan, you will be provided with a Certificate of Eligibility and a loan agreement, along with information about the funding amount and instructions on how to recieve the money. Depending on your province, you will receive either a single integrated loan (with a portion funded by the federal government and a portion funded by the provincial government) or a Canada Student Loan alongside a provincial student loan.

If your loan application is not approved, and you feel that it was assessed incorrectly or that your circumstances were not properly considered, then you can file an appeal to have the assessment reviewed. Appeal forms can be obtained from your provincial student financial assistance office.

Loan Maintenance

Your Canada Student Loan (or integrated student loan) will be administered by the National Student Loans Service Centre (NSLSC) on behalf of the government. The NSLSC will be the point of contact once your loan application has been approved. Depending on your situation, you may be required to provide additional documentation to the NSLSC to maintain or change your loan status.

If you are a full-time student, the Government of Canada will pay the interest on your Canada Student Loan while you are in school. Part-time students are not subsidized and are responsible for making the interest payments.

Loan Consolidation

Your Canada Student Loans become repayable when you graduate, leave school or exceed the maximum lifetime limit. The loans that you have received during your time in school will be brought together in a single repayment plan; this process is called loan consolidation. The National Student Loans Service Centre will send you a consolidation agreement covering matters such as the repayment schedule, amount of each payment and the applicable interest rate.

Full-time students are entitled to a six-month grace period before the first payment, but interest will start to accumulate during this period (unpaid interest will be added to your principal balance at the time of loan consolidation). For part-time students, the six-month grace period applies to repayment of principal but not interest.

It is important to make timely repayments on your student loans. Failure to do so can have serious financial consequences, including the risk of loan default and a negative impact on your credit rating.

Repayment Assistance

The federal government provides a Repayment Assistance Plan for students who have difficulty repaying their Canada Student Loans. The purpose of the assistance plan is to allow students to make loan payments that they can reasonably afford based on their family income and family size.

Students who need assistance must apply for the Repayment Assistance Plan, as enrolment is not automatic. Contact the NSLSC to discuss repayment assistance options and to obtain an application form.


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Payday Loans – Cash Loans

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A payday loan is a short term loan that is best used to cover urgent financial expenses like paying a bill, paying for repairs to your home or car or you might just need some extra cash before your pay check comes through. Whatever the reason, an application can be competed in minutes because they are designed to be a fast and easy way to get a cash advance, often on the sameday. These types of loans are paid back in full plus interest on your next payday and are not the answer to any long term financial difficulties. You can be eligible for a payday loan even with a poor credit history although the exact amount you can borrow might depend on your credit score. With payday loans becoming such a popular financial product there are many loan providers out there.

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The term annual percentage rate describes the interest rate for a whole year (annualized), rather than just a monthly fee/rate

LOAN AMOUNT

Amount you can borrow

MIN TERM

Minimum borrowing period

MAX TERM

Maximum borrowing period

ID REQUIRED

Identification required to apply

SUITABLE

Applicants the loan is suitable for

TERMS

Terms and conditions of loan

RESTRICTIONS

Restrictions regarding potential borrowers

Wonga

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Identification

South African ID Number; cell phone (to receive a PIN)

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Suitable

For those seeking a short term financial solution to a short term cashflow problem

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Terms

South African ID number,over 18 years, employed and a bank account in your name

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Restrictions

You must be employed and have a South African ID number in order to qualify. You must be over 18 years old and have a bank account in your name

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Services

Short term credit provider

Advantages

Disadvantages

1. Our service has an annual interest rate of 60%, in line with the regulations set out in the NCA, But remember a Wonga loan is only for between one day and a month – so actually you’re paying just 0.164% interest a day

Get Bucks

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Identification

Initially South African ID number, employment and residential details.

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Suitable

For South African residents with all credit backgrounds looking for a solution to a short term cash flow problem

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Terms

You must have a Bank Account and be a South African resident

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Restrictions

You must have a Bank Account and be a South African resident

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Services

Payday Loan Lender

Advantages

1. Borrow any amount between R500-R4000

Disadvantages

1. There is an initiation charge for each loan to cover the service delivery promise of being effective and fast

SA Payday Loans

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Identification

Initially residential and financial details

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Suitable

For individuals looking for a fast cash loan of up to R15000

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Terms

See website for details

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Restrictions

Not available if you are self employed

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Services

Advantages

Disadvantages

Not much information provideid before application

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Related Payday Loans Products

Compare Payday Loans and Cash Loans

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Payday loans have been heavily criticised but can a payday loan ever be the right solution?

The truth about Payday Loans

Payday loans are everywhere these days and the industry is booming but what is a payday loans?

Payday loans are small loans where no credit checks are required. This means that whatever your financial history you are likely to be approved. Payday loans have short terms and must be paid back quickly, usually on your next payday, hence the name.

Payday loans are a fast way of getting emergency money. You can apply, get approved and have the money in your account often on the sameday. Some lenders can even get the money to you in as little as 15 minutes! They are designed to help you cover your expenses until your next paycheque.

Why are Payday Loans so popular?

An increasing amount of people are turning to payday loans to help them make ends meet. Payday loans can help you cover an unforeseen expense such as household bills, home repairs and buying essentials like petrol, food and travel.

With no credit checks the loans are very accessible. The only requirements are usually that you are over 18 and have a South African bank account. The application process is easy and fast and can take only a few minutes to complete. You can get the money you want from the comfort of your own home either online or with some companies via text.

Are Payday Loans as bad as they say?

Payday loans can be very costly and are a more expensive than other methods of borrowing. This is because the interest rates are very high as these are unsecured loans which can be given to people with bad credit ratings. However, they are designed for short term borrowing so if you do decide to take one out you need to be responsible and pay back the amount plus the interest as soon as possible.

If you miss payments you can quickly fall into a debt problem. This is because the fees and charges that come with late payments can be expensive and can easily accumulate. Not only can you fall into debt but you also risk damaging your credit score which will be used against you.

Remember that payday loans are for short term borrowing and should never be used to solve any long term financial difficulties you might have.

Is a Payday Loan right for you?

Payday loans can be a good solution for quickly and easily borrowing cash during an emergency if you don’t have other financial options such as credit cards or savings account.

Treat payday loans as a last resort.

Finding a Payday Loan

As payday loans are so popular there are many lenders vying for your business. It is definitely worth taking the time to research the market to see what is on offer. You can use the table above to find the right payday loan for you.

It is important that you read the small print on a payday loan and understand how the loan works. Also look at what happens if you miss payments.