Student Loans & Payment Plans

Canadian Student Loans

To qualify for government student loans you must be:

  • a full-time student registered in 9 or more credit hours each semester
  • a citizen or permanent resident of Canada

Students who are registered in 6-8 credit hours may be eligible for a part-time student loan.

Financial need is assessed based on personal income and financial situation. Typically, the maximum amount students can receive is $10,880 per year. It is important to find additional financial sources to cover your tuition and living expenses. Once your loan has been approved you will receive an email from National Student Loan (NSLC) outlining how to set up an account. Follow their instructions in order to complete your loan and receive your funding. For more information visit the Canadian Student Loans website.

How to Apply for Canadian Student Loans



First - are you eligible?


  • Enrolled in 9+ credits/semester at Columbia:You can apply for a full-time student loan.
  • Enrolled in 6-8 credits/semester at Columbia: You can apply for a part-time student loan.
  • Enrolled in the EA certificate only: Educational Assistant Certificate students aren't eligible for student loans.




Register for classes.

  • If you've been accepted to Columbia, but still haven't registered, email Admissions to set up an appointment.




Are you from BC?




Apply Through Your Home Province

  • Use the links below to access your province's student loan program.
  • Applications open in early June for the upcoming school year and typically take 4-6 weeks to process.
  • Aim to submit your application by July 15th for the fall semester/full academic year, or by November 1st for the Winter semster.
  • You can wait to apply for a loan until 6 or 8 weeks before the end of your study period, but we don't recommend it. It is best to apply for student loans as soon as possible to ensure that your application is processed before the financial payment deadline.








Know Your Start & End Dates

  • Your student loan application will ask you to provide start and end dates for your program: September 7, 2021 to April 22, 2022. Using different dates will delay the processing of your application.




Are You From Alberta?

  • Alberta student loan applicants need to refer to this document, detailing program costs, as you complete your application.




Submit Your Documents

  • Send your Financial Aid Advisor your Notification of Assessement or your Funding Summary once you've received it from the government.
  • If you have applied for your loan but it has not been approved by payment deadline (August 15 for the fall semester), you will need to follow the Student Loan Payment Plan.



Need a form filled out by Columbia for your loan?




US Student Loans

Students from the United States have many options for obtaining student loans through private institutions and banks. Columbia participates in two main American financial aid programs: the Federal Student Aid Direct Loan Program and the Sallie Mae Smart Option Loan Program.

Federal Student Aid Direct Loan Program

To apply for a Direct Loan complete the following steps:

  1. Complete the free Application for Federal Student Aid (FAFSA) online. Choose Columbia Bible College (school code: G22011) as your school to have your SAR available to the school online. Remember that Columbia Bible College is considered a Foreign School and you must choose foreign country under state.
  2. Sign your Master Promissory Note (MPN) online. If you wish to complete a paper MPN instead of the electronic version, you must order one through Federal Student Aid.
  3. If this is the first time you have received a Direct Loan while studying at Columbia, you must complete entrance counseling online
  4. If you wish to receive a Parent PLUS loan, your parent must complete a PLUS application form and sign a PLUS MPN. Apply for a Parent Plus Loan.
  5. Submit the Direct Loan Request Form. This form acts as your authorization for Columbia Bible College to process your Direct Loan application. Your loan request cannot be processed until this form has been received.

Once your loan has been processed and approved, Columbia will notify you with an award letter and an award acceptance form which you must fill out and return to the school. Your loan will be disbursed in two equal installments (one each semester) and will be deposited directly into your Student Account. For more information visit the US Direct Loans website.

More information:

The Direct Loan program is funded through the US Department of Education and offers three kinds of loans for students attending schools outside the United States:

  • Subsidized Loans: low-interest loans that remain interest and payment free while the student is in school.
  • Unsubsidized Loans: low-interest loans that accrue interest continually but remain payment free while the student is in school.
  • Parent PLUS Loans: low-interest loans taken out by a parent on behalf of the student.

Students may apply for one or more of these loans at the same time. The subsidized and unsubsidized loans provide financial assistance to a maximum amount determined by several factors. Parent PLUS loans have no limits, but can only be approved up to the remaining financial need after a student’s subsidized and unsubsidized loan limits have been reached.

Columbia adheres to the guidelines of administering the US Direct Loan Program as set out by the US Department of Education. The following students will not be eligible to receive loan funds from the US Direct Loan Program:

  • Students admitted as Mature Students;
  • Students taking online courses;
  • Students registered in certificate programs;
  • Students registered in diploma programs;
  • Students participating in internships that do not take place on campus under direct supervision of Columbia staff and/or faculty.

For more information regarding Columbia’s admissions and withdrawal policies, please see our Academic Catalogue.

For Consumer Information Disclosures, please click here.

The following policies apply only to students borrowing US Direct Loan funds. It is the student’s responsibility to be familiar with them: Return to Title IV (R2T4) Policy and Satisfactory Academic Progress (SAP) Policy.

Sallie Mae Smart Option Loans

Sallie Mae Smart Option Loans are funded through the US Department of Education and require students to make small, interest-only payments while in school. The benefit of a Sallie Mae Smart Option Loan is that they tend to approve higher borrowing amounts than Direct Loans with fewer restrictions.

For more information and to apply, visit the Sallie Mae Smart Option Loans website.

Payment Plans & Policies

Payment Methods

Columbia offers several ways for students to make payments to their student account:


Online/Telebanking Columbia is set up with most major banks and Credit Unions. Simply add Columbia Bible College as a payee and use your Student ID as your account number.


Credit Card, PayPal, Alipay or Interac eTransfer only through PaySimply Visit PaySimply, our secure third party payment provider, to pay online with any major credit card (Visa, MC, Amex), PayPal or Interac eTransfer. Please allow 3 business days for processing. A convenience fee will be applied to cover payment handling and processing charges.


Cash/Cheque Please bring payment to Reception (1st floor of Resource Center) during regular business hours. If mailing a cheque (do not mail cash), envelopes must be post stamped before the payment deadline to avoid late payment fees.


Cash or Debit at Canada Post Visit PaySimply, our secure third party payment provider, to generate a QR code to take with you to Canada Post with your payment. Please allow 3 business days for processing. A convenience fee will be applied to cover payment handling and processing charges


Debit Only available at Reception.


Wire Transfer Please contact Reception to receive more information regarding wire transfer procedures.


Passport to Education Can be dropped off at Reception or mailed ATTN: Financial Aid. The passport must be received by the college prior to the payment deadline to be used towards that semester's fees.




Payment Play Flow Chart

Payment Plans & Dates

Columbia offers three different payment plans for students. Click on the plans below for more information and payment dates:

Standard Payment Plan

The Standard Payment Plan is for students who wish to pay the full amount of tuition and student fees by payment deadline (see below). Students enrolled in 6 credits or less are required to select the Standard Payment Plan.

Payment Due Dates    
Fall Semester   August 15, 2021
Winter Semester   December 15, 2021

Deferred Payment Plan

The Deferred Payment Plan (DPP) is designed to allow students to break up their tuition and fees into three payments each semester. Students enrolled in 6 credits or less are not eligible for the Deferred Payment Plan. Please note that a documentation fee applies (see Tuition & Fees for more information).

DPP Payment Due Dates (Fall Semester)
Payment #1   August 15, 2021   50% of total
Payment #2   October 1, 2021   25% of original total
Payment #3   November 1, 2021   Remaining balance


DPP Payment Due Dates (Winter Semester)
Payment #1   December 15, 2021   50% of total
Payment #2   February 1, 2022   25% of original total
Payment #3   March 1, 2022   Remaining balance

Student Loan Payment Plan

The Student Loan Payment Plan is for any student using a government student loan to pay all or a portion of their tuition and fees. Students enrolled in 8 credits or less are not eligible for the Student Loan Payment Plan. Please note that a documentation fee applies (see Tuition & Fees for more information).

To set up a Student Loan Payment Plan, students must submit the Agreement Form along with any required documentation 5 business days before the payment due date.

  • If the September disbursement of the loan covers the amount owed to Columbia, the student is not required to pay anything out of pocket. All loan funds will automatically be directed to Columbia and must be received by September 11, 2021.
  • If the September disbursement of the loan does not cover the amount owed to Columbia, the student is responsible to pay the remaining balance. The portion covered by the student loan must be received by Columbia by September 11, 2021.
  • If a student loan is not yet approved at payment deadline, students will be placed on a modified payment schedule until proof that the student loan has been approved is received by the Financial Aid Office.
Modified Payment Schedule
Fall Semester
August 15, 2021   10% Payment
September 15, 2021   20% Payment
October 1, 2021   35% Payment
November 1, 2021   35% Payment


Winter Semester
December 15, 2021   10% Payment
January 15, 2022   20% Payment
February 1, 2022   35% Payment
March 1, 2022   35% Payment


Payment amount calculated from initial balance owing.

External Funding

  • RESP
  • Government Funding (other than student loans)
  • First Nations Funding
  • External Scholarships & Bursaries

If you have a form of external funding (as listed above) you will need to confirm your enrolment with Columbia. To confirm your enrolment please fill out the Confirmation of Enrolment request form online.

Columbia MUST receive confirmation of your external funding BEFORE the payment deadline of August 15th. Failure to confirm will result in the need to pay your full bill at payment deadline.

Payment Policies

For questions or concerns in regards to Payment Policies, or to see the policies, please contact the Student Accounts Clerk.

Payment Deadlines

If a payment deadline falls on a weekend or statutory holiday, payments made in person or by phone must be done within regular office hours on the previous business day. Late payments will be subject to late fees. Failure to finalize payment within a reasonable amount of time (as determined by Columbia) will result in withdrawal from the College.

Payments After Due Date

Missing a payment will result in a $150 charge. If a student cheque is returned for any reason, a fee of $25 will be charged to the student’s account. Students with unpaid accounts will not be permitted to return or register the following semester until the account is paid in full. Appropriate steps will be taken to collect outstanding accounts.

Student Loan Information

All student loans are required to be payable to Columbia Bible College until the account has been paid in full. Any resulting over-payment of tuition and fees will be available for a refund as stated below. Student loans not approved at the time of registration will not be considered as approved for the purposes of the Columbia Bible College Financial Agreement.

Refunds from Student Accounts

Only payments received in excess on a student account will be available for a refund after Add/Drop Week. An approved student loan is only deemed received after the funds have been wire transferred to Columbia or a cheque has been received by Columbia. Payments received from a parent/legal guardian will only be refunded into the parent's/legal guardian's name unless otherwise instructed in writing. Payments received from a supporting agency will not be refunded to the student without prior written authorization as to the intended purpose of any excess funds. Where more than one sponsoring agency has made payments on a student account, any refunds available will be pro-rated to the overall cost of the invoice in conjunction to the payment made and distributed accordingly to all sponsoring agencies first. Please allow 5 business days for a refund to be processed.

Refund Policy for Voluntary Withdrawal and Dismissal

Bookstore Charge Authorizations

Bookstore charge authorizations will only be issued to the maximum amount of credit available on the student's account. Bookstore charging is to be used for textbooks only and will not be available for personal items. As these authorizations are retained by the bookstore at the time of purchase, it is advised that a student is fully aware of all required textbooks before making purchases (any amount not used cannot be carried forward as credit).