How to receive full-time funding
What documents will I receive?
Once we have assessed your application and you have been approved for full-time funding, you will receive the following documents:
- 1 Notification of assessment
The notification of assessment will tell you:
- The type of funding you have been approved for (loan, grant/bursary).
- The amount of money you have been approved for.
- When you are eligible to receive your money.
- 2 Master student financial assistance agreement
If you are approved for full-time funding through StudentAid BC you will receive a legal document called the Master Student Financial Assistance Agreement (sample).
The Master Student Financial Assistance Agreement (MSFAA) outlines the terms and conditions of your provincial and federal student loans. It is important that you review the agreement before signing as this is a legally binding contract requiring you to repay your student loans.
The MSFAA is a multi-year agreement so you won't have to sign a new agreement every time you apply for funding through StudentAid BC.
When you sign this document, you are signing two contracts; one between you and the Government of Canada, and the other between you and the Government of British Columbia.
The MSFAA does not state the amount of money you will receive. Instead, each time you are approved for funding by StudentAid BC, a notification of assessment with the loan and/or grant amount and disbursement details.
What do I do with my documents?
To receive your funding, you must submit your Master Student Financial Assistance Agreement to Canada Post as soon as possible.
- 1 Confirm your identity at a Canada Post outlet
As soon as you receive your Master Student Financial Assistance Agreement, take it to a designated Canada Post outlet
Make sure to bring all the following personal documentation with you:
- your social insurance number card/letter, or a copy of an official Government of Canada document that includes your social insurance number; and
- official government-issued photo identification, such as a driver's license, B.C. identification card or passport; and
- a void, personal cheque with your bank account number. If you do not have a personal cheque, your bank or credit union can help you complete the electronic funds transfer section of your Master Student Financial Assistance Agreement. If you lose your agreement, contact StudentAid BC to have the document reprinted and sent to you.
- 2 Confirm your enrolment
After your MSFAA has been received by NSLSC and before your student loan and/or grant money can be released, your school must confirm that you are enrolled in an eligible, full-time post-secondary program for the entire study period for which you have been awarded funding.
If you attend a B.C. public post-secondary institution or other school that offers electronic confirmation of enrolment, your school will automatically confirm your full-time enrolment with StudentAid BC.
Most schools in B.C. confirm student enrolment online directly to StudentAid BC.
Check to see if your institution confirms enrolment electronically.
If you attend a school that does not access electronic confirmation of enrolment, and if you have provided a valid e-mail address, you will receive an e-mail asking you to access your account on the StudentAid BC website dashboard, to download a copy of your confirmation of enrolment form about a month before you are eligible to receive the student loan funds.
If you have not provided a valid e-mail address, a confirmation of enrolment form will be mailed to you. If you have not provided a valid e-mail address and if your school is within Canada, the form is mailed to the school; if outside of Canada, the form is mailed to you, and you must take it to your school for them to mail or fax to StudentAid BC.
Once your confirmation of enrolment form is processed, your student loan and/or grant funds can be released.
If you lose your paper confirmation of enrolment form, download another copy from your account on the StudentAid BC website dashboard. If you do not have an online account and you have lost your paper confirmation of enrolment form, please call StudentAid BC.
Your school may instruct the lender ( NSLSC ) to send all or part of your funding directly to them to pay for your tuition and mandatory fees.
- 3 Money released on or after the disbursement date
After your MSFAA has been processed and your enrolment has been confirmed, your funds will be either deposited electronically into the bank account you have specified, or forwarded to your school. The deposit usually occurs within seven business days of the confirmation of enrolment date.
If you are receiving more than one student loan disbursement during your application period (check your notification of assessment), your school must confirm your enrolment each time before the money can go out to you.
What happens the next time I apply?
When you sign and return an MSFAA to the NSLSC you are agreeing to receive all funding you are assessed to receive from that date forward, so the next time you apply for student financial assistance, you won't have to sign and submit a new MSFAA .
Just complete and submit a StudentAid BC application and view your Notification of Assessment. The funds you're eligible for will be deposited electronically into your account and/or forwarded to your school to pay your academic fees.
I have a grant or bursary
Each grant and bursary program has different requirements for releasing funds. It is important that you refer to the Notification of Assessment or documentation sent to you to find out what you will need to do to receive your grant or bursary funding.
In all cases, your enrolment in an eligible, full-time post-secondary program must be confirmed by your school before you can receive the grant or bursary money.
I'm studying outside of Canada
If you are studying outside of Canada, you will follow a different process to receive your B.C. student loan.
If you are not able to take your Master Student Financial Assistance Agreement to a designated Canada Post outlet , you can mail your agreement directly to the National Student Loans Service Centre with clearly readable copies of your government-issued photo identification and social insurance number card/letter.
I need a power of attorney
The power of attorney form is used for the administration and financing of student loans for British Columbia students who wish to have another person tend to their affairs.
For information on obtaining a power of attorney form please contact the National Student Loans Service Centre .
Power of attorney can be used for financial administrative purposes only, by authorizing the Master Student Financial Assistance Agreement (MSFAA) on your behalf. The power of attorney does not have legal authorization to sign your StudentAid BC application or other related documents on your behalf.