Financial Assistance

CMCC’s Financial Aid Office is here to assist students with their application for funds from federal or provincial sources.and can assist with advice re: professional student line of credit programs through major Canadian banking institutions.

Our Financial Aid Administrator, Jenny Loor, is here to provide you with advice on getting your loan documents completed and submitted accurately and on time. Please feel free to drop in any time between 8:00 a.m.and 5:00 p.m. Monday through Friday or contact Jenny by phone 416 482 2340 x 103, fax 416 646 1114, or email: finaid@cmcc.ca.

 

Provincial Student Assistance Programs

Provincial student assistance programs can supplement students who lack adequate financial resources to pursue post-secondary education. Please apply early, since government loans can take up to twelve weeks to process. For details, contact the offices below, or the Financial Aid Administrator in CMCC’s Division of Student Services.

  • Alberta - Alberta Learning Information Service, Alberta Human Resources & Employment
  • British Columbia - Student Services Branch, Advanced Education, Training and Technology
  • New Brunswick - Student Services Branch, Department of Advanced Education and Labour
  • Prince Edward Island - Student Aid Division, Department of Education
  • Newfoundland - Student Aid Division, Department of Education
  • Northwest Territories - Student Financial Assistance, Department of Education, Culture and Employment
  • Nova Scotia - Student Assistance Office, Department of Education and Culture
  • Nunavut  - Department of Education, Financial Assistance for Nunavut Students
  • Ontario - Student Affairs Branch, Ministry of Education and Training
  • Quebec - Service de l'accueil et des renseignements, Aide financière aux études, Ministère de l'Éducation)
  • Saskatchewan - Student Financial Assistance, Post-Secondary Education and skills Training
  • Yukon - Students Financial Assistance Unit, Department of Education

Bank Loans
All major financial institutions have student loan programs and/or lines of credit available to CMCC students in all years. You need to be aware of the yearly and overall maximums that can impact your long term financial budgets for the four year CMCC program. Please contact your bank for details such as eligibility requirements, interest rates and applications.

Emergency Loan Fund
CMCC maintains an emergency loan fund for students. The maximum is $500, which must be repaid within 30 days. Students must submit written proof to substantiate the status of the emergency. Emergency loan application forms may be obtained from the Office of Student Services.

Students’ Council Emergency Fund
The Students' Council maintains an emergency loan fund. The maximum is $500, which must be repaid within sixty days. Students in financial need must submit written proof to substantiate the status of the emergency. Emergency loan application forms may be obtained from the Students’ Council Office.

**For U.S. Students**

Return to Title IV Policy
U.S. federal student aid is awarded to U.S. students who are in attendance at CMCC for the entire study period. If a student ceases to become a fulltime student at any time prior to completion, they must report their withdrawal from the program in writing to the Registrar’s Office and may no longer be eligible for the full amount of Title IV funds awarded. Title IV federal student aid includes U.S. Direct Loans (subsidized and unsubsidized), Parent PLUS loans or Grad PLUS loans)

U.S. federal aid regulations mandate a Return to Title IV Funds (R2T4) calculation when a student withdraws from CMCC. The percentage of aid that must be returned by the student and CMCC is based on the number of days in attendance and by the number of days remaining in the study period. A repayment would not be required if you attend more than 60% of the semester before withdrawing.

If you withdraw from all your courses prior to completing over 60% of a semester, you may be required to repay a portion of the federal financial aid that you received for that term. A pro rata schedule is used to determine the amount of federal student aid funds you will have earned at the time of the withdrawal.

The financial aid office will determine the percentage Title IV aid earned and return the unearned portion to the appropriate aid program on behalf of the student. For further information see the U.S. Student Aid website at: https://studentaid.ed.gov/