How do I confirm my student loan?
If you are enrolled in a full-time course load and registered in the correct program, Financial Aid will confirm your loan about three weeks before each semester start date. At that time, your tuition for the current semester will be directed to the college and applied to your outstanding tuition.
In some cases, Financial Aid is unable to request the whole amount of tuition. In these cases, the student loan funds are paid directly to you, and you will be responsible for ensuring your tuition fees are paid in full by the deadline dates.
Check your student record to confirm your tuition fees have been paid.
My loan has been confirmed, what’s next?
Once your loan has been confirmed, the amount that was requested by Financial Aid will be posted on your account. The remaining loan proceeds will be deposited into your personal bank account. This can take five to ten business days. Refer to your disbursement dates outlined in your loan assessment provided by your province.
In some cases, Financial Aid is unable to request the whole amount of tuition. In these cases, the student loan funds are paid directly to you, and you will be responsible for ensuring your tuition fees are paid in full by the deadline dates.
Check your student record to confirm your tuition fees have been paid.
What if I drop a course?
Before you drop any courses, contact Financial Aid. We will make sure you still meet a full-time course load. If you drop below full-time status, we are required to advise your loan provider. This may negatively affect your loan status and your ability to receive future loans.
It is your responsibility to ensure you meet full-time or part-time enrolment requirements. If a dropped course results in a credit on your student record account, the credit will be sent back to student loans.
What are health and dental fees?
Financial Aid does not request health and dental fees from your student loan. You are responsible for paying this charge. Alternatively, you can opt out of health and dental by the required deadline.
I am staying in student housing. Does this impact my loan?
Financial Aid does not request student housing fees from your student loan. You are responsible for paying these fees. Log into your student record account to view your balances.
I am receiving sponsorship. How does this impact my loan?
If you have a sponsor paying for your tuition, it is likely they will not have paid at the time Financial Aid confirms your loan. When your loan is confirmed, we request tuition to come directly to us.
When your sponsor pays your tuition, you will have a credit on your account. At that time, a cheque refund can be requested by contacting Financial Aid. You can log into your student account to watch for the credit to appear on your account.
I have just come to BC from another province (or country). Can I apply for student aid through BC?
You are considered to be a BC resident when you have resided in BC for 12 continuous months (not including full-time post-secondary study). International students are not eligible, unless you have dual citizenship and meet the residency requirements set by StudentAid BC. You can apply for a student loan through your province of residence.
Where do I get an application for a student loan?
Go to StudentAid BC and register to access the online application.
How do I apply for part-time student aid funding?
Part-time application forms can be found through the StudentAid BC Form Library. It is a fillable form that you can complete online and print, sign and date. Email your completed form to Financial Aid.
What is the deadline for applying for government loans and grants?
You should always apply early—at least six to eight weeks before your tuition is due or your class begins. However, you can apply at any time up to six weeks before the end of your study period.
What is an MSFAA?
The Master Student Financial Agreement (MSFAA) is a legal agreement between you, the province in which you are considered a resident and the Canada Student Loans program about borrowing and repaying your student loans.
I defaulted on a previous student loan. Am I eligible to apply for a new student loan?
It is possible, but only after you receive a letter of clearance from the Canada Student Loan Program (National Student Loans Service Centre) and/or the province where you arranged your student loan. Contact the National Student Loans Service Centre at 1-888-815-4514. This process often takes up to one year.