Financial Considerations

Student loans are available to the student who meets the Government requirements. If you are considering this option
please talk to us in person so you have a clear understanding of the Student Loan process.

If you are going to a lending institution for assistance, do try and negotiate an interest only payment, until you graduate. Most lending institutions
are willing to be flexible. If we can help you out with information for your lender, please let us know.

If you have been out of the work force for some time or are on employment insurance there maybe programs to assist you while you are
taking your course, so do take the time to explore those options.

If you are Appling for a Child care subsidy, We can assist by supplying you with an official expectance letter to verify you are registered and excepted in the program and will be attending full time. This letter will assit you in your application for Child care subsidy.

It is time to start repaying your loan, Hair Art Academy can assist you in a repayment plan when you:

• have graduated from your studies;

• have transferred to part-time studies;

• have left school; or

• Are taking time off school for more than six months.

• For the first six months after you leave school, you will not have to make payments to your Canada Student Loan or your provincial student loan. This is called your six month non-repayment period. However, during this period, interest does accumulate. You can either choose to:

• start making the interest payments right away;

• pay the six months’ interest as a lump sum before you start making your regular payments; or

• Have your loan providers add the interest amount to your loan total after the six month non-repayment period. If you do not make contact, your loan payments may start to be automatically withdrawn after the six month non-repayment period from the same bank account where your loans were deposited (if you had arranged for direct deposit).

• Create an online NSLSC account to stay in touch with both National Student Loan service center and Hair Art Academy and always keep your contact information up-to-date.

• It is your responsibility to contact your loan provider(s) to set up a repayment schedule before you have to start making payments after the six month non-repayment period. Loan providers will try to contact you via mail or phone, but it is your obligation to set up and manage your loan payments should they not be able to reach you.