The objective of the EALP is to:
a. assist spouses who may need to complete recertification courses, supplementary courses and/or training to increase opportunities for employment; and
b. assist serving members, former members and their dependants (spouses and children) who may not qualify under the Bank of Montreal SLOC program in obtaining post-secondary education and/or training.
In order to be eligible for a loan under the EALP, ALL of the following criteria must be met:
- the applicant must have served in the Canadian Armed Forces (Regular Component or Reserve Force) or be the widow/widower/dependant of a former member. Note: a widow/widower ceases to be eligible once/if they remarry.
- the applicant must be capable of repaying the loan without imposing personal financial distress and/or compromising the security of Support Our Troops Fund assets;
- the student for whom the funds will be used must be registered in a course at a recognized post-secondary institution or an adult re-training centre.
- CF subsidized programs, such as UTPNCM, ROTP, etc., are not qualifying programs for an EALP loan;
- Royal Military College courses if not subsidized are acceptable;
- On-line and distance courses are acceptable;
- General interest courses are not admissible; and
- Courses that are not part of a full-time program must lead to potential employment.
Application forms are available on our website or at the local SISIP office. Schedules A & I required.
In addition, forms may also be obtained by contacting the Support Our Troops office at 4210 Labelle Street, Ottawa, Ontario, K1A 0K2, telephone 613-943-8756 or toll free 1-888-753-9828.
Applications are accepted year round as there is no official deadline to apply. To ensure funding is received in time for the fall semester, applicants are requested to submit their application prior to the end of June.
The following supporting documentation is required when submitting your completed EALP application form:
- proof of current income (pay and/or pension stubs);
- T4’s and/or tax assessments (self-employed members only);
- discharge certificate or Record or Service (retired or released members only);
- proof of attendance/acceptance at a recognized post-secondary institution and/or retraining center. This may follow; however, it is required prior to the issuing of funds; and
- proof of tuition costs.
The EALP consists of a low interest loan (3.45% APR OAC) which is awarded for the student’s current scholastic year. The EALP does not provide assistance for students who have completed their studies. There may be only one application per student request and one loan per student in any twelve-month period. Loans are granted to and reimbursed solely by the applicant.
Loan amounts start at $500, and then increase in increments of $500 to a yearly maximum of $5,000 per eligible student, with a lifetime maximum set at $20,000 which may be used in consecutive years of instruction.
Approved funds for loans are normally paid to the CAF members.
Loans within the EALP are unlike government student assistance loans or programs, in that, payments are not deferred until completion of a course or program.
The following rules apply to the repayment of EALP loans:
- loans are repayable over a 12, 24, 36 or 48-month period, and is at the applicant’s discretion;
- repayment commences the month following the issuance of funds;
- approval of subsequent loans – principal balances of both loans (existing and new) are combined, repayable over term indicated on new application;
- repayment by serving members – monthly pay allotment; and
- repayment by former members – monthly pre-authorized debit.
Applications will be assessed, based on the following criteria:
- not a current debtor under any financial distress program;
- current credit status (loans, notes, previous loans and /or assistance.); and
- assessment of Consumer Credit Report.
In some instances, an applicant may be required to submit a budget.
It should also be noted that with regards to bankruptcies and write-offs, Support Our Troops will not normally consider any application or lend any more funds until six years has elapsed following discharge from bankruptcy or write-off of a previous Support Our Troops loan.
Following the adjudication procedure of the Grants/Loan Coordinator, the completed application is submitted to the Fund Manager for decision. Each applicant is notified in writing of the decision. All decisions are final, there is no appeal process. Applicants are not required to confirm successful completion of the academic program.
Requests for early payout are to be directed to the Support Our Troops Office at 4210 Labelle Street by calling 613-943-8757 or 613-943-8758.