Québec Student Loans
Get access to student aid and achieve your educational goals.
How to get started
Check if a loan is right for you
If you’re a Québec resident, a student can provide financial assistance to help you pay for school, subject to eligibility. You can use it to cover expenses like tuition, rent and textbooks, without having to repay it until after you’ve finished your studies.
No payments while you’re in school
The Québec government will cover the interest that accrues while you’re in school. You only start paying the principal and , six months after you’ve finished or stopped your studies.
Learn how to repay your loan
You can choose a repayment schedule that works best for you. You won’t have to repay your loan while you’re still in school. Plus, you won’t have to make payments for the first six months after finishing school. Your obligation to pay the principal and interest begins after this period.
Are you eligible?
Meet these four qualifications to apply for a loan:
Be a full-time or part-time student enrolled in an eligible post-secondary program- Be a Québec resident
- Be a Canadian citizen or permanent resident
- Require financial assistance to pursue your education
Learn about eligibility for full-time or part-time programs.
Not eligible? Check out our other student borrowing options.
Here’s how it works
Apply for student financial assistance
Complete your application on the Québec government’s website.
Book an appointment at BMO
Once your application is approved by the Québec government, book an appointment with a BMO lending expert.
Bring these documents to your appointment
You’ll need these documents at your appointment:
- Your government-issued photo ID, like a passport or driver’s licence
- The original Guarantee Certificate, which can be found in your student financial assistance file
Get your loan
After your appointment, we’ll deposit the loan into your bank account within 10 business days.
Not sure how to pay your loan?
Once you’re done school, you’ll be responsible to repay your loan. Whether you’re unsure about how to make payments or have questions about paying off the loan faster, we can help make a repayment plan that works for you.
Québec Student Loans frequently asked questions
Student loans are only offered by the federal or provincial governments. The Québec Student Loan is awarded by the Québec government, with payment and repayment of the loan managed by BMO. With a Québec student loan, interest accrues on the full amount that’s deposited in your account.
A student line of credit from a bank gives you access to a set amount of money you can borrow as needed – and you’re only charged interest on what you borrow. For example, if you have a $15,000 line of credit and only borrow $5,000, you’re only charged interest on the $5,000.
The Québec government offers a deferred payment plan. If you’re eligible, it lets you lower or pause your payments for up to 6 months.
While you are in-school, the Québec government covers the interest that accrues on the loan.
After graduation, the interest rate is based on BMO’s Prime Rate plus 0.50%.
Interest is calculated on your daily balance and charged monthly to your account.
The loan amount is determined by the Québec government. The amount you get depends on things like your income, eligible expenses and family situation. For additional details on how financial assistance is assessed, visit the Québec government website.
Yes, you can work during your studies but your income may affect your eligibility. If your situation changes during the year, you must advise the Québec Government right away.
You can find more information about the Québec Student Loan on the Québec government’s website.
You can also book an appointment to learn more.
Yes, BMO has a wide variety of student products, including bank accounts, credit cards, and borrowing options. For more information, visit our Student Hub.
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Have more questions?
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