Grant Name: B.C Loan Forgiveness Program

Status:

Active

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Deadline:

NA

Description

Recent graduates in select in-demand occupations can have their BC student loans forgiven by agreeing to work at publicly-funded facilities in underserved communities in B.C, or working with children in occupations where there is an identified shortage in B.C

If you qualify for the BC Loan Forgiveness Program, the Province of British Columbia will forgive the outstanding BC portion of you Canada-BC integrated student loan debt at a rate of up to a maximum of 20% per year for up to five years.

If you complete five years of employment, all or a percentage of your BC student loan debt will be forgiven. While you are in the loan forgiveness program, the Province will also pay any outstanding interest that accumulates during each year you are registered in the program.

Eligibility

  • are in repayment of an outstanding B.C. student loan (not restricted in default, delinquent or bankruptcy)
  • have graduated from an accredited post-secondary educational institution
  • are or will be employed (full-time, part-time, and/or casual/on-call) at a publicly funded facility in an eligible occupation either with children or in an underserved community in B.C.
  • are not enrolled in full-time post-secondary studies

Eligible Occupants in Underserved communities are:

  • nursing
  • physician
  • midwifery
  • medical laboratory technologies
  • diagnostic medical sonographer
  • speech language pathologist
  • audiologist
  • occupational therapist
  • physiotherapist
  • respiratory therapist
  • polysomnographer

Eligible occupations working with children throughout BC are:

  • speech language pathologist
  • occupational therapist
  • audiologist
  • physiotherapist
  • school psychologist
  • technology educator
  • teacher of deaf/hard of hearing or the visually impaired

 

How to Apply?

  1. Ensure you have access to the StudentAid BC Dashboard to receive all notifications and to submit documentation as required. Make sure you supply the same email address for all StudentAid BC program applications. If you are a new applicant, you will need to set up your mobile BC Services Card and have your identity verified by Service BC to access the StudentAid BC Dashboard.
  2. Read these instructions and conditions carefully.
  3. Complete the B.C. Loan Forgiveness Program application, and confirm checklist is complete.
  4. Submit your application form to StudentAid BC, along with an employment letter. Your employment letter must contain all of the following:
    • must be on company letterhead;
    • current date (this date must be within one month of the date your application was received at StudentAid BC);
    • employer’s signature;
    • applicant’s name and job title;
    • employment status (full-time/part-time/casual on-call);
    • hired/start date;
    • name of the publicly-funded facility;
    • name of the community; and
    • whether working with children (for specific occupations).
    • Please note an employment offer letter does not meet the requirements of an official employment letter.
  5. Read, sign and date SECTION 2 – Declaration, and return the completed package to StudentAid BC via the document upload option on your StudentAid BC Dashboard.

https://studentaidbc.ca/sites/all/files/form-library/bcloanforgiveness_application.pdf

Funding Amount

N/A

Contact Information

Processing Fee

N/A

Location/Classification

British Columbia, Canada
Student Aid

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