91É«ÊÓƵ

Canada Student Loans – is a program run by the federal government which provides students with access to financial assistance to help support learning pursuits. 

Provincial Student Loans - each province or territory has its own student loans program, and you will need to apply to the province or territory you have residency in.  Residency is defined as the last place you have lived for 12 consecutive months prior to full-time post-secondary studies.

As part of the application, you will need to link to the web site that best meets your residency.  Please select the province or territory you have lived in for 12 consecutive months prior to attending post-secondary studies.

To qualify for a provincial student loan, you are required to indicate whether you are full time or part time.  You will need to submit the appropriate loan for financial assistance. 

Definition of full-time vs part-time enrollment:

• Full-time students must be enrolled in at least 60 percent of a full course load.Students with a permanent disability must be enrolled in at least 40 percent of a full course load.
• Part-time students must be enrolled in 20 to 59 percent of a full course load.

Note: If you are a student with a permanent disability and you are studying between 40 and 59 percent of a full course load, you have the option to be considered as a full-time student.

For information on eligibility and how to apply,

The loan amount you may receive is calculated based on various factors , to estimate the potential annual student grant and loan amounts you may receive, use the .

If you haven't applied in awhile, or if this is your first time applying, .

Remember, there are several steps to the application process before you get your disbursement of funds:

• Assessment of your Student Loan Eligibility
• Review of your Application
• Issuance of Notice of Assessment from your province/territory
• Your Review and acceptance the Master Student Financial Assistance Agreement (MSFAA) terms and conditions
• Submit signed loan documents
• Disbursement of funds to you and your post-secondary institution

Have there been other changes to your profile as a student?
There may be other topics and changes that affect your funding amounts the new academic year. See  for more information.

If you have any questions regarding the student loan process, please contact: Student Development Support at Moneymatters@nbcc.ca.

If you are going to be attending your program or a term in your program part-time over the academic year, you will need to submit a part-time application. Students who are studying part-time must use the part-time application.

Each province and territory have their own .

You will need to re-apply for each academic year (study period) you are attending school. For a detailed, step-by-step guide, see .

Please let Canada Student Loans know of any of the following changes since your last application:

• Address/Contact Info Changed?
• Attending a new program/school
• Relationship changes since your last application
• Has your legal guardian changed?
• Are you attending a co-op work term this year?  Note:  co-ops are different than practicums.  If you are unsure if you are taking a co-op program, please reach out to your Academic Department to confirm.
• Has there been changes to your income:  Have you started receiving:  Employment Insurance? Income Assistance? Training and Skills Development?
• Did you develop a Permanent Disability?

Links on tips and tools to help you successfully manage your student loan can be found at

If you drop classes through the year, it may affect your student loan. Students contemplating a change should consider the financial implications as well as the academic. Refer to the 91É«ÊÓƵ’s Refund Policy for details or ask the Academic Department for advice before you drop a class.

You can apply for student loans online in early June for the upcoming academic year.  Please note that it can take 4-6 weeks to process initial application.

If you have applied for a program and are on a waitlist you can still apply for a student loan so that if or when you are accepted, you will be financially prepared to start. 

Tips

• What do I need to remember?  Follow up – Never assume “no news is good news”
• Ask questions – from the right sources
• Communicate with funding agency and 91É«ÊÓƵ
• Take ownership- you do your part, and we will do everything we can to help

When you apply for government funding to pay for school, you agree to certain Terms and Conditions.

The Master Student Financial Assistance Agreement is your legal agreement to borrow, use and repay your loan and grant funding from , which delivers the .

When you click "Agree" on the Terms and Conditions page while completing your student loan application, you form a legal agreement with your province to borrow, use and repay your loan.

You will begin repaying your student loan(s) when any of the follow have occurred:

• You have completed your program
• Are no longer registered and attending school

Repayment Period begins at the end of the six-month non-repayment period. This is when you start making regular loan payments.

See for more information.

All Canada Student Loans

National Student Loans Service Centre
Toll-Free in North America: 1-888-815-4514
TTY (Hearing Impaired Students): 1-888-815-4556
Fax: 1-888-815-4657

Fax from outside of North America: 1-905-306-2414.

National Student Loans Service Centre
P.O. Box 4030
Mississauga, Ontario L5A 4M4

Does academic upgrading qualify for student financial assistance? 
Funding cannot be issued for academic upgrading, which includes the re-take of successfully completed course to maintain a full-time status.  Funding cannot be considered for courses that are not a requirement of your program of study.

Do I have to be official accepted in a program of study before applying for student financial assistance? 
You can apply for student financial assistance without being formally accepted in a program of student at a designated post-secondary educational institution as your enrolment must be confirmed by the education institution before funding can be issued. 

Can I change my program of study after submitting my application? 
Yes, you can but you must immediately advise Student financial Services of any change to the information you provided on your application as your file must be reassessed.

How long does it take to process my application for student financial assistance?
It can take 4 to 6 weeks for your application to be processed 

Do I need to submit both a provincial and federal application for student financial assistance? 
No, you will be evaluated for both your provincial and federal eligibility with one application

School is starting and I have received my notice of assessment from NSLSC but have not received the funds yet.  Will that affect my attendance to the program? 
No, it will not affect your attendance as 91É«ÊÓƵ will have also received communication that your loan has been assessed

School is starting and student loans has told me that the college needs to confirm my loan before funds can be released.  Do I have to contact the college to have them released? 
You do not have to contact 91É«ÊÓƵ as we also receive communication that your loan is waiting for confirmation.

How long do I have to wait to receive my student loan funding once my application has been approved? 
It can take up to 3 weeks for processing by 91É«ÊÓƵ once you have received confirmation from student loans that your loan has been approved by them.

School is starting and I have NOT received my notice of assessment from NSLSC.  Will that affect my attendance to the program?  
No, it will not affect your ability to begin your program, but you will need to follow up with NSLSC on the status of your loan and update 91É«ÊÓƵ on that status by emailing financials@nbcc.ca

Do I receive all my approved funding at once? 
No, you will receive your funding in two disbursements.  One in your first term of school for 60% of your assessment and the second disbursement in the second term for the remaining 40%.  Please note:  Your student loan may also be a combination of both provincial and federal funding and you may receive your funding in several payments each term.

My student loan application asks if I am participating in practicum or co-op.  How do I complete this section? 
Practicums do not need to be check if they are within the academic program delivery.  If you are attending a co-op option program, please contact your academic department to ensure when you will be participating in the co-op.

When should I apply for a Student Loan? 
To allow process time, students should apply 4 – 6 weeks before the program starts and any time up to 8 weeks before the end of the program.

How long should I expect to wait for a Notice of Assessment? 
Once all documentation is received, you may expect to receive a Notice of Assessment within 2 – 4 weeks. When the MSFAA (Master Student Financial Assistance Agreement) is returned to Student Loan, the college will confirm your enrollment.

How will my payments be received? 
Your tuition and fees will be paid directly to your college account. The remainder will be deposited in your personal bank account. This will be in the first and second terms (if you are receiving TSD, you will only receive the first-term disbursement)