Receiving Your Funds

There are certain steps you need to follow in order to receive your funding.

Note: The Terms and Conditions of the MSFAA opens in new window was updated for the 2014-15 academic year.

Receiving your Funding

Step 1: A current Master Student Financial Assistance Agreement (MSFAA) must be on file at the National Student Loan Service Centre (NSLSC). Your MSFAA will remain current unless you have had a break in studies of more than two years.

First-time borrowers (or those having a break in studies of more than two years) will be sent a MSFAA. This agreement must be signed and sent to NSLSC.

Completing and Submitting the MSFAA

  • Review all information on the document
  • Complete the required sections
  • Take your MSFAA to a designated Canada Post outlet opens in new window. You will also need to bring:
    1. Social Insurance Number documentation or a copy of your Canada Revenue Agency Notice of Tax Assessment;
    2. Official government issued photo identification; and
    3. A void cheque or have your bank/credit union complete the Electronic Funds Transfer section of the MSFAA.

      Note: See Acceptable Identification.

Step 2: Once your MSFAA is on file at NSLSC, your educational institution must confirm your enrolment.

Note: If you are attending an educational institution outside of Canada, a Confirmation of Enrolment Form will be sent directly to you via email, which must be completed by your educational institution and returned to the Student Financial Services Division.

Step 3: Once full-time enrolment has been confirmed, your financial assistance will be deposited to your bank account. If you do not have a bank account, a cheque made payable to you will be mailed to the address you provide. All or part of your financial assistance may be sent to your educational institution to pay fees owing. You will receive a letter from the NSLSC advising you of the amount of your disbursement that has been issued to you and/or your educational institution. You can also visit the NSLSC website at www.CanLearn.ca opens in new window for further information.

Note: The disbursement to you and/or your educational institution may NOT occur at the same time due to a difference between the federal and provincial deposit dates.

Step 4: You may need to confirm you income in order to receive future assistance.

  • If your application was submitted and assessed before your semester start date, you must confirm your income by submitting an Income Confirmation Form PDF (774 KB). This form must be submitted even if there is no change in your reported income.
  • If your application was submitted before the start date of your first semester in an academic year, but was not assessed until after the semester start date, your application cannot be completed until you confirm your income by submitting Income Confirmation Form PDF (774 KB). This form must be submitted even if there is no change in your reported income.
  • If your application was submitted after the semester start date, skip this step.

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Receiving Funding After Your Semester Start Date

Assessed prior to the start date of your semester: An Income Confirmation Form (ICF) PDF (774 KB) is required in order to receive any future funding.

Not assessed by the start date of your first semester: An Income Confirmation Form (ICF) PDF (774 KB) will be required in order to have your application processed.

Important Note: Confirming your income is a critical part of the application process. The Income Confirmation Form verifies your actual pre-study income; if this differs from the amount you estimated on your application, it may impact the available funding for future semesters.

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Receiving Grants for Services and Equipment for Students with Permanent Disabilities

If you are eligible for Canada Student Grants for Services and Equipment for Students with Permanent Disabilities, you are required to sign up for direct deposit with Student Financial Services Division (SFSD) in order to receive this funding. This process is efficient, reliable, and secure.

If you are eligible for the grant, SFSD will electronically deposit the funds into your personal bank account.

Instructions for the Submission of Banking Information

In order to initiate this process, you may submit your banking information to SFSD in ONE of two methods:

  1. Official Direct Deposit Form OR
  2. Void Cheque
  1. Official Direct Deposit Form
    This form is available to all account holders from their respective Financial Institution. It is a personalized form that indicates the account holder's account information (i.e.,account number, transit number, and Financial Institution number). Please note, SFSD cannot accept direct deposit forms that do NOT have an official bank stamp OR an official Bank Representative's signature.

    The following information must appear on this form:
    • Student's name
    • Student's mailing address
    • Account information
    • Official bank stamp
  2. Void Cheque
    A void cheque is used to provide details of the student's account information (i.e. account number, transit number, and financial institution number). This information is located on the bottom of the cheque. You can submit a personal cheque that is voided or request one from your Financial Institution.

    The following information must appear on the void cheque:
    • Student's name
    • Student's mailing address
    • Account information
    Example of a void cheque:

    Image of a void cheque

These methods allow SFSD to ensure that the information you provide is accurate and that the funds will be deposited into an account in your name.

It is the responsibility of the student to ensure that SFSD is provided with up-to-date banking information. Please contact SFSD immediately if there is a change in your banking information.

Note: Under no circumstances will money be deposited into an account that does not belong to the student.

SFSD maintains strict privacy protocols designed to prevent unauthorized access to personal information.

For further information regarding Direct Deposit Forms or Void Cheques, please contact SFSD at 1-888-657-0800.

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Acceptable Identification

  • Photo ID: You must present a valid photo identification that was issued in Canada by either the federal, provincial or territorial government. Examples include:
    • a valid driver's license;
    • a passport;
    • a provincial health card with a photo; or
    • a permanent residency or citizenship card.

  • Proof of SIN: To prove that the Social Insurance Number (SIN) on your loan or grant document is yours, you must also present your SIN on an official Government of Canada document. Examples of such documents include:
    • Social Insurance Card;
    • Canada Revenue Agency Notice of Assessment;
    • Canada Pension Plan Statement of Contributions; or
    • A confirmation of your Social Insurance Number from Service Canada.

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