Saskatchewan Integrated Student Loan

When applying for a student loan, there are two ways that you can go. First, you can apply for a federal student loan which is offered by the government. .This is further sub-divided into two categories: the provincial and national level. Second, you can apply for a student loan from a bank or any other type of financial institution. The disadvantage of private student loans is that they are credit ratings based, they have a slightly higher interest rate, and the repayment terms are not as flexible as federal loans.

Now, if you are applying for a federal student loan in Canada, there are several advantages that you can get to enjoy. As compared to private loans, it has more flexible repayment terms. Also, you can take advantage of an integrated student loan. This means that you can apply for both types of loans offered on a provincial and national level. For example, if you live in Saskatchewan, you can qualify for the federal loan offered by the National Student Loan Service Centre, as well as the provincial student loan from the government of Saskatchewan. When these two are combined, it is called the Canada-Saskatchewan Integrated Student Loan. This type of loan is issued on a needs-based system. Although the Canada-Saskatchewan Integrated Student Loan is actually a combination of two types of student loans, there is only loan that you need to pay back when the repayment period starts.