28 Mar Information to have handy as you apply for a student loan:
They also offer grants that, unlike loans, don’t need to be paid back once you finish your studies. When you apply for a Canada Student Loan, you’re automatically considered for most of these grants.
- Ambrose institutional code: BPSV
- Social Insurance Number (SIN)
- Most recent Total Income tax amount (Line 15000 of your last tax return or Notice of Assessment)
- Resources (scholarship amounts, savings, etc.)
- Living expenses estimate
- Use the Budget Calculator to determine your tuition and fees for the school year
* Keep all documentation and receipts marked and readily available. If you’re ever selected for an audit, you’ll be glad to have these documents handy.
The Government of Canada has launched Skills Boost to support adults who want to return to school and upgrade their skills. See Skills Boost page.
A permanent disability is a functional limitation caused by a physical or mental impairment that restricts the ability of a person to perform the daily activities necessary to participate in studies at the post-secondary level or in the labour force. The disability is expected to remain for the person’s expected natural life.
Students with permanent disabilities may be eligible for government funding designed to offset education-related costs associated with their disability. Please see our Funding and Grants for Accessibility webpage for more information.
Loans and Grants
When making application to Student Aid Alberta, grants are allocated first prior to loans. So it is possible to apply for disability grants and not request or receive a student loan.
Receiving a Loan or Grant
Students who have been approved for loans will receive email correspondence to their account. This important correspondence letter will outline approved funding, disbursement dates, loan amounts, and details about the next steps. Read this letter carefully, it will assist you in completing a budget worksheet for the academic year to ensure educational, living and related costs are met.
Your loan agreement is called a Master Student Financial Assistance Agreement (MSFAA). This is the legal agreement between you and your https://guaranteedinstallmentloans.com/payday-loans-me/ loan provider(s), including terms and conditions of:
- How you will use your loans and/or grants
- Your repayment obligations
- How your monthly payments will be calculated
Before you can receive your funding, you must sign your agreement(s),The Financial Aid Office can confirm approved loans up to 30-days before a scheduled loan disbursement. Students must be enrolled in full-time or part-time studies accordingly before loans can be confirmed. Loan borrowers are encouraged to complete their course registration a month prior to school semester start in order to receive loan funding in a timely manner.
Once the Registrar completes your confirmation of registration, Alberta Student Aid will be able to release your funding directly to you within 7-10 business days.
If you received both federal student loans and grants, these monies may be disbursed to you separately from the National Student Loans Service Centre. Students who are expecting a loan disbursement should always monitor their account to verify the loan has been issued.
First-time loan borrowers, and students who have not received loans for 24 months or more must complete and sign the Master Student Financial Assistance Agreement (MSFAA). Both the Federal and Provincial MSFAAs must be received by the university before loan funding can be disbursed.
After receiving your loan funding, if at any point during the academic year your circumstances change, you may be required to report these changes to Student Aid Alberta as part of your loan agreement. Changes can be reported to Student Aid Alberta by submitting a Request for Reconsideration Level 1 form.