Terms and Conditions

As they appear on the master B.C. student loan agreement

I am applying for financial assistance under the terms and conditions of StudentAid BC.

I.   I understand that:

  1. StudentAid BC of the Ministry of Advanced Education and Labour Market Development will determine the amount of money I may receive.
  2. It is against the law to make false or misleading statements on this application or all documents related to it.
  3. If I do not provide complete, accurate information or if I obtain or attempt to access financial assistance by fraudulent means, I will be denied student financial assistance and/or loan remission, debt reduction or loan forgiveness now or in the future.
  4. All information is subject to audit and verification.
  5. If I receive money (loan or grant) and then it is discovered that my application, or documents forming a part of it, are not accurate, I will be required to repay all or part of the money, with interest. I will be required to do this if the mistake was made by me, my spouse/common-law partner, parent(s), step-parent, sponsor, legal guardian, school or StudentAid BC. I will also be required to repay an overaward due to a change in my status. Repayment of outstanding overawards must commence no later than the first day of the seventh month after ceasing full-time studies.
  6. It is my responsibility to make sure the information on this application and/or all the documents related to it, is accurate.
  7. All information provided in the application may be audited and may be electronically matched with the Canada Revenue Agency, Human Resources and Skills Development Canada, and the Ministry of Employment and Income Assistance to verify reporting accuracy.
  8. If I cease to be eligible for funding, any tuition refund I will be eligible to receive will be sent by my school or myself directly to the government or its agent to be applied to any outstanding loan principle or overawards.

II.  I understand that by signing below it means:

  1. I have read the General Information book and Instructions book provided with this application.
  2. I have answered all questions on the application and all related documents.
  3. I certify that all information is complete and accurate and I have not altered or added to any of the pre-printed application and/or appendix questions.
  4. I will be a full-time student for the study period stated in this application, and will maintain a satisfactory scholastic standing. A full-time student is one who is or will be enrolled and in attendance in credit courses of at least 60 per cent (40 per cent for students with permanent disabilities) of a full course load of at least 12 weeks in length and leading towards a certificate, diploma or degree as defined by the post-secondary school attended.
  5. None of the courses used to meet the minimum 60 per cent (40 per cent for students with permanent disabilities) of a full course load requirement are repeats/duplicates of courses for which I have previously received credits.
  6. I must pass at least 60 per cent (40 per cent for students with permanent disabilities) of a full course load for each application study period, or my eligibility for student financial assistance in future years of full-time post-secondary study will be affected.
  7. I need student financial assistance to continue my education.
  8. I will use the money I receive to pay my academic fees first; then, I will pay other educational costs and living costs directly related to my studies covered by this application.
  9. I have not applied nor will I apply to receive student loans, grants or bursaries from another province or territory during the study period stated in this application.
  10. I will immediately notify StudentAid BC of any increase in my or my spouse/common-law partner’s, parent(s)’, stepparent’s, sponsor’s or legal guardian’s income and/or assets and of any changes in my address, academic status (e.g., course load, study period), marital status, or reduced number of dependants.
  11. For the purpose of verifying and/or investigating information pertaining to this application, related documents, and the eventual repayment of my loan awards, whether defaulted or not and any other money repayable, I consent to the exchange of information between the Ministry of Advanced Education and Labour Market Development (or its agent) and the following agencies: financial institutions, Canadian Imperial Bank of Commerce, Royal Bank, Bank of Nova Scotia, schools, credit agencies, WorkSafe BC, Superintendent of Bankruptcy, other financial aid offices, Land Title and Survey Authority of British Columbia, BC Registry Services, Ministry of Employment and Income Assistance, Ministry of Children and Family Development, Ministry of Attorney General, Ministry of Finance, Ministry of Small Business and Revenue, Ministry of Education, British Columbia Student Loan Service Bureau, National Student Loans Service Centre, Citizenship and Immigration Canada, Insurance Corp. of B.C., BC Assessment, Human Resources and Skills Development Canada, Crown corporations, Canada Millennium Scholarship Foundation, native bands, federal, provincial, municipal ministries, departments and agencies.
  12. I consent to the verification of my social insurance number, name, date of birth, gender, with information contained in Human Resources and Skills Development Canada’s (HRDC) Social Insurance Register. This information will be disclosed to HRDC for the purpose of confirming the accuracy of my identification in the context of my application for a Canada student loan.
  13. I agree to the collection and exchange of personal banking information which includes my bank account number, by and between the Ministry of Advanced Education and Labour Market Development, the B.C. Student Loan Service Bureau and the National Student Loans Service Centre, for the sole purpose of a direct electronic deposit of funds as determined by the Ministry of Advanced Education and Labour Market Development.