Don’t let money stand in the way of achieving your goals. As an NIC student, you may be eligible to receive financial assistance from loans, grants, bursaries, or scholarships. NIC’s financial aid advisors can help you with loan forms and financial aid applications. They can also work with you to explore all your funding options, from bank and government student loans to scholarships, study grants, and bursaries.
Speak with a financial aid advisor for options and funding sources available to you.
Scholarships & Bursaries
North Island College Foundation Awards
External scholarship search sites:
Emergency Assistance Funds
When Provincial funding is available, North Island College provides financial support to students throughout the year who need help with books, transportation, childcare, groceries, or other emergencies that would otherwise prevent them from completing their studies.
Funds are available through the:
- Board of Governors Emergency Fund
Available to all eligible NIC students
- Aboriginal Emergency Assistance Fund
Available to all eligible Aboriginal students at NIC
For more information or to apply, contact a financial aid advisor, see our
Aboriginal Services page or meet with an Aboriginal services advisor.
Government Financial Assistance Programs
Ministry of Advanced Education
PO Box 9173, Stn Prov Govt
Victoria, BC V9W 9H7
Toll free 1-800-561-1818
Following are some financial aid programs for which you can find information at
the StudentAid BC Website.
- Canada Student Loan
- BC Student Loan
- Canada Student Grant for Part-time Students
- Canada Student Loan for Part-time Students
- Canada Student Grant for Students with Dependents
- Canada Student Grant for Persons with Permanent Disabilities
- Adult Basic Education Student Assistance Program (ABESAP)
- Nurses Education Bursaries
Student Financial Assistance in other provinces and territories:
Bank Loans or Lines of Credit
Students may be able to qualify for student lines of credit through a financial
institution. A co-signer may be required. Students must make the monthly interest
payments while enrolled in their studies.
Maintaining Eligibility of Your Student Loan
If you are currently funded by a student loan, or are in repayment of your student loan, there are some responsibilities that you need to be aware of. Below are some key responsibilities; please refer to www.studentaidbc.ca for further information.
I am currently funded by a student loan
You must maintain satisfactory academic progress in order to continue to be eligible for financial assistance. Satisfactory academic progress means that you have been successful in at least a 60% of a full course load each funded term, which is normally three classes/ 9 credits (40% for students with permanent disability status approved by StudentAid BC).
If you have an unsuccessful term, you are normally permitted to continue your studies but it will affect your StudentAid BC record. You are allowed to have two early withdrawals and/or 4 unsuccessful semesters before your access to financial aid is restricted.
If you need to drop a course or program, please first meet with your NIC Financial Aid Advisor to discuss how this will affect your student loan.
Minimum Course Load
You must maintain at least a 60% course load each term in order to be considered full time (40% for students with permanent disability status approved by StudentAid BC).
- 60% of a full-time course load is normally 9 credits
- Repeating a course to get a better grade does not count toward your minimum course load
- Upgrading courses, Continuing Education, and Audited courses can not be used as part of your minimum course load. You are welcome to add these courses on to your study plan, but they can not be used toward your 60% requirement.
Changes to Application
Sometimes the information you provided on your original student loan application changes! It is your responsibility to update StudentAid BC through a “reassessment” if anything has changed. Some common reasons for reassessment are bursaries, sponsorship, changes to your working situation, and changes to the value of your assets. Your Financial Aid Advisor can help you to complete the required reassessment to submit to StudentAid BC.
I am a student in repayment of a student loan
If you are currently repaying a student loan, and are taking either part time or full time courses, there may be some additional steps to take in order to keep your loan in good standing.
I am a full time student
If you are in a full time program you can normally have your student loan moved to “interest free” status. If you are receiving a new student loan, your loan documents will also serve to move your old loan to interest free status. This means that you will not be required to make payments toward interest or principal until 6 months after you complete your program. You must apply for interest free status online through your StudentAid BC account (www.studentaidbc.ca); your loan must be in good standing to receive interest free status . After you have applied, North Island College will electronically confirm your full time status with StudentAid BC.
I am a part time student
Normally part time students continue to repay their student loan while they study. Going to school is an expense, and sometimes it is hard to afford both tuition and your student loan payment. If you are in school part time and are struggling to make your payments, consider applying for the Repayment Assistance Program (RAP). The online application for the RAP is available here: www.canlearn.ca/eng/loans_grants/repayment/help/repayment_assistance.shtml
I am not a student
If you are struggling to make the monthly payments, consider applying for the Repayment Assistance Program (RAP). The online application for the RAP is available here: www.canlearn.ca/eng/loans_grants/repayment/help/repayment_assistance.shtml . There are many options that can assist you in making affordable or nil payments.