Advanced Education, Skills and Labour

Receiving Your Funds

There are certain steps you need to follow in order to receive your funding. As there are different types of funding you may be eligible to receive, please see the below sections to determine the process(es) you need to follow.

Receiving Full-time and Part-time Funding

If you are eligible to receive an amount of student financial assistance for full-time or part-time studies, 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 is a legal agreement that outlines a student’s responsibilities and the terms and conditions of accepting and repaying your student loans.

Note: The Terms and Conditions of the full-time MSFAA opens in new window was updated for the 2018 academic year.

You are considered a ‘new applicant’ and will require a new MSFAA if you are:

  • a first time loan or grant recipient enrolled in full-time or part-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.

Note: There are separate MSFAAs for part-time and full-time students with unique terms and conditions for each. If you are advised by email that a new MSFAA is required, you must complete the registration process using your new MSFAA number provided in order to receive your funds.

Student Financial Services will inform NSLSC if you are eligible to receive student financial assistance each semester.

If a MSFAA is not required, the NSLSC will send an email to you to advise when student loans and/or grants are disbursed. If personal banking information has changed, you should contact the NSLSC to update your 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 you an email indicating the unique 10-digit MSFAA number has been uploaded to your online account. You simply login to your online account to obtain the MSFAA number. The NSLSC will then send a “Welcome email” within 1-2 business days with the subject line “Complete your MSFAA/Remplissez votre EMAFE” including a link to begin the online process. You are then ready to proceed with registering your MSFAA.

Before proceeding with the online process, you must ensure you have the following information 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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Confirmation of Enrolment

Student Financial Services is required to verify full-time or part-time enrolment for all students before student loans and/or grants are disbursed.

An authorizing official at the Educational Institution is responsible for verifying your enrolment. Once enrolment has been confirmed, approved student loans and/or grants will be deposited directly into your bank account less any amounts forwarded to the Educational Institution to cover all or a portion of outstanding tuition and fees.

Note: Students attending International Educational Institutions: For students attending institutions outside of Canada, full-time enrolment is verified by submitting a Confirmation of Enrolment Form. This form is e-mailed to your e-mail address on file at Student Aid. You must take the Confirmation of Enrolment Form to the authorizing official at the Educational Institution to have it completed and return it to Student Financial Services through email (studentaidmailbox@gov.nl.ca), fax (709-729-2298) or mail (PO Box 8700, St. John’s, NL Canada A1B 4J6). Once full-time enrolment has been confirmed, approved student loans and/or grants will be deposited directly into the student’s bank account less any amounts forwarded to the Educational Institution to cover all or a portion of outstanding tuition and fees.

NL Part-time Incentive Grant, Grants for Services and Equipment for Students with Permanent Disabilities, NL Debt Reduction Grant, Early Childhood Education Grant and Refunds

If you are eligible for NL Part-time Incentive Grant, Canada Student Grants for Services and Equipment for Students with Permanent Disabilities, NL Debt Reduction Grant or refunds, 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 either of these funding options, SFSD will electronically deposit the funds into your personal bank account.

Instructions for the Submission of Banking Information

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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