This is the amount that parents, step-parents, sponsors or legal guardians of single dependent students are expected to contribute towards the costs of the students' education, based on financial ability. Parental contributions vary according to family income, size and allowable deductions.

This is a payment that subscribers get from income earned on money put into a Registered Education Savings Plan (RESP). It also includes income earned on Canada Education Savings Grants and Canada Learning Bonds.

This is interest that has accumulated on the principal of a loan but has not yet been paid. Calculating accrued non-repayment-period interest: To calculate the interest that has accumulated on your loan during your six-month non-repayment period, use the following formula: principal of loan (at the end of studies) X interest rate (Prime + 2.5% or 5 [..]

The amortization period (also known as the repayment period) is the length of time it will take to pay off the principal and interest of a loan. The normal repayment period for a student loan is 9.5 years or 114 monthly payments.

This is a review or reconsideration of a student loan assessment. To ask for a review, you must submit a written request to your provincial or territorial student financial assistance office outlining the details and reasons for the appeal.

This is a program where a student works with a mentor to learn a skilled trade while gaining on-the-job work experience.

Your loan is in arrears when you have missed one or more scheduled loan payments. If you do not make any payments on your Canada Student Loan for 270 consecutive days, you are considered to be in default.

A borrower's provincial/territorial student financial assistance office does an assessment to determine the borrower's financial need.

This is the difference between a borrower's assessed costs and the amount of money they will be expected to contribute. Contributions can come from savings, earnings from summer or part-time jobs and from the borrower's parents or family, if applicable. Your assessed need can be calculated using this formula: Education costs – Student Res [..]

The outstanding amount of a student loan still to be paid after subtracting total payments to date.