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  5. Choose a Financial Institution

Choose a Financial Institution

Although the Program is government managed, it is the financial institution (bank or caisse) you choose that will deposit the financial assistance (loans and bursaries) into your account. This financial institution is also the one to which you will have to repay your loan at the end of your studies.

At the beginning of the school year, you must choose a financial institution and give them your Guarantee Certificate. This is the document that confirms that the government has awarded you a loan.

You can find your Guarantee Certificate in your Student Financial Assistance File. Then submit it to your financial institution as soon as possible to avoid delaying your first instalment.

If you reapply for financial assistance, you will not be required to submit a new Guarantee Certificate. Your financial institution will automatically disburse your loan as scheduled.

However, if you interrupted your studies for more than 6 months, you will receive a new Guarantee Certificate that you must submit to your financial institution.

The participating financial institutions are:

  • Desjardins Group
  • BMO Bank of Montréal
  • Laurentian Bank
  • National Bank of Canada
  • RBC Royal Bank of Canada

Last update: June 7, 2022


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