Advanced Education, Skills and Labour

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

If you are eligible to receive an amount of student financial assistance, you will need to follow the steps outlined below in order to receive student loans and/or grants.

Students must have a Master Student Financial Assistance Agreement (MSFAA) on file at the National Student Loan Service Centre (NSLSC). The MSFAA outlines a student’s responsibilities and the terms and conditions of accepting and repaying provincial and federal student loans.

A MSFAA is required if a student:

  • is a first time loan or grant recipient enrolled in full-time studies;
  • previously submitted a MSFAA but have left full-time studies for two years or more; or
  • has previously received student loans and/or grants, but has since established residency in another province/territory.

Student Financial Services will inform NSLSC that students are eligible to receive student financial assistance.

If a MSFAA is not required, the NSLSC will send an email to the student to advise when student loans and/or grants are disbursed. If personal banking information has changed, students should contact the NSLSC to update their account.

Submitting the MSFAA
Submitting the MSFAA is an online, electronic process. It will generally take about 20 minutes to complete.

Within 1-2 business days from the date of receiving the Notice of Assessment, Student Financial Services will send students an email indicating the unique 10-digit MSFAA number required to be used during the online submission process has been uploaded to their online account. Students simply log in to their online account to obtain the MSFAA number. The NSLSC will then send a “Welcome email” within 1-2 business days with the subject line “Register now to set up your online account” including a link to begin the online process. Students are then ready to proceed with submitting the MSFAA.

Before proceeding with the online process, students must ensure they have the following information readily available:

  • Bank account information - including transit number, institution number and account number
  • Social Insurance Number (SIN)
  • Unique 10 digit MSFAA number (located in your online Student Aid account once assessed)
  • Date of Birth

The submission process will need to be completed in one session. The process includes:

  • linking into the NSLSC website and confirming identity;
  • registering for an online NSLSC account, once identity has been confirmed; and
  • completing the online MSFAA upon successfully registering for an online NSLSC account.

If you have questions about the registration process with the NSLSC, please click here for a list of Frequently Asked Questions (FAQs) or contact via telephone at toll free 1-888-815-4514 (within North America) 800 2 225-2501 (outside North America).

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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.

    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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