Student Loan Designation
Designation is the process by which post-secondary education institutions are deemed eligble for certian government programs and funding.
Currenlty, the provinces are responsible for the designation of post-secondary educational institutions. Applicable funding includes:
1. Federal and provicial student loans
2. Canada Educations Savings Grants and Registered Education Savings Plans
3. Millennium Scholarships
4. Canada Study Grants
5. Education and tuition fee tax credits
6. Loans and grants through the Employment Insurance program
7. Grants for Aboriginal Students
In March 2003 the federal Intergovernmental Consultative Committee on Student Financial Assistance introduced a designation policy framework. It is intended to “guide jurisdictions in the development of their designation policies.” All of the provinces agreed to implement a designation policy that would “manage” the “financial risk” associated with student loans.
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