How much can you get from student loans?

[CipherEvice]

Hi! I've already received a 135k LOC from scotiabank and am also planning on applying for government student loans. Not that I'm going to use it all anyway, but just wondering, what is the most money anyone has received from those for law school, or how much do they typically give you per year? I am sure I would find this out soon anyway when I apply but just curious.

I am in Alberta and I know that the lifetime limit on government loans for law is $125,000, but how much do they actually give per semester or year? I can't find much on the forum about this aside from one person who said that you can get a measly $8,000 per year form government loans (which seems really low? What would be the point of a $125,000 lifetime limit if you're getting $8,000 per year? Nobody is ever going to be in law school for 15 years or max that out). Also, I remember getting offered $13,000 for one year when I was in undergrad from government student loans so I'm sure they give more than $13,000 a year for law school?

[qsizzle]

Hey! I am AB too. Max for law school is $22500/year. Doesn't mean you'll receive that, but it's the maximum. When you put in your expenses/costs on the application calculator, it will generate an amount based on that. Then, if you feel it is too low you can appeal it and perhaps get more.

If you have no assets/are living away from home and independent, you'll usually get the full 22500

[Lilbb19]

For studentaidBC I got about 20K a year for law school on top of my Scotia PSLC

[Patient0L]

1 hour ago, Lilbb19 said:

For studentaidBC I got about 20K a year for law school on top of my Scotia PSLC

Was that tuition + 20k for living expenses, 20k total?

[qsizzle]

5 minutes ago, Patient0L said:

Was that tuition + 20k for living expenses, 20k total?

That will be total

[Patient0L]

Just now, qsizzle said:

That will be total

8k a year to live on? Sheesh.

[qsizzle]

3 minutes ago, Patient0L said:

8k a year to live on? Sheesh.

Yep. That's why we need the PSLOC. Imagine being Os or UofT with 26k and 36k tuition.

[Patient0L]

48 minutes ago, qsizzle said:

Yep. That's why we need the PSLOC. Imagine being Os or UofT with 26k and 36k tuition.

Rough. I’m counting my lucky stars with this BC tuition. 

[Lilbb19]

20 hours ago, Patient0L said:

Was that tuition + 20k for living expenses, 20k total?

Total. I also got a lot of bursaries though U of A was super generous. But yea youll prob need the pslc for sure. I never got a dime from anyone for my education, so i get the financial stress

[Patient0L]

1 hour ago, Lilbb19 said:

Total. I also got a lot of bursaries though U of A was super generous. But yea youll prob need the pslc for sure. I never got a dime from anyone for my education, so i get the financial stress

I’m assuming I’ll get some kind of bursary but when I look at them they don’t look like financial game-changers.

I have a dependant so I think that gives me a little bit extra student loan cash. 

ya, now I’m kind of like… what have I gotten myself into?!

[t3ctonics]

On 5/20/2022 at 4:23 PM, Patient0L said:

ya, now I’m kind of like… what have I gotten myself into?!

Debt 😎

[Patient0L]

12 minutes ago, t3ctonics said:

Debt 😎

😂 
 

I just spoke the the PSLOC rep from Scotia. He told me about a Med student that went out and bought a Ferrari with his loan.

At least I won’t be that guy!