The British Columbia student loan tax credit is a refundable tax credit for BC residents who have received student loan funding. For 2023, the credit is calculated at 5.5% of the interest paid on your student loan.
The Canada student loan tax credit allows you to claim a non-refundable tax credit for interest paid on your student loan. For the 2023 tax year, you can claim up to $2,500 in interest paid.
The University of British Columbia's financial aid office provides information on student loan tax credits available to Canadian students, including the Canada student loan tax credit and the BC student loan tax credit.
Use our free tax calculator to determine your eligibility for the BC student loan tax credit and calculate your potential refund. Our calculator is updated for the 2023 tax year.
The Government of Canada's website provides information on Canada student loans, including tax credits and repayment options. Learn how to apply for a tax credit and manage your student loan debt.
Global News provides a step-by-step guide on how to claim the BC student loan tax credit. Watch our video to learn more about the eligibility criteria and application process.
TaxTips.ca provides an overview of tax credits available to students in British Columbia, including the BC student loan tax credit and the Canada student loan tax credit.
The Institute for Research on Public Policy (IRPP) publishes research on student loan tax credits in Canada, including their effectiveness and impact on student debt. Read our latest report to learn more.