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Approval of Your Application

Once your application has been assessed and you have been approved for funding, you will receive the following documents in the mail.

Notification of assessment

As soon as StudentAid BC has processed your application for financial assistance for the 2011/2012 program year, you will be sent a notification of assessment.

The notification of assessment letter will tell you:

  • The type of funding you have been approved for (loan, grant/bursary).
  • The amount of money you will receive.
  • When you will receive your money.
  • Where your money will be sent.

Master student financial assistance agreement

If you are approved to receive funding through StudentAid BC after August 1, 2011, you will receive a legal document called the Master Student Financial Assistance Agreement (see a sample ).

The Master Student Financial Assistance Agreement 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.

In most cases, the Master Student Financial Assistance Agreement will remain active throughout your post-secondary studies; however, there may be some situations where you will be required to sign a new agreement, including the case of a two-year break in studies. If a new Master Student Financial Assistance Agreement is required, StudentAid BC will automatically send it to you for completion.

When you sign and return a Master Student Financial Assistance Agreement to the National Student Loan Service Center (NSLSC) you are agreeing to receive all funding you are assessed to receive from that date forward. The Master Student Financial Assistance Agreement 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 will be mailed to you.

You can also view this notification of assessment and the status of your application under the Check your student loan application status on this StudentAid BC web site.