NSLSC and Canada Student Loans
In regards to the NSLSC and Canada student loans, the Canadian government makes efforts every other year to ensure that the students who are facing tough financial situations do not get to drop out of school for one reason or the other.
Because of this it is a good thing to try and ensure that you know all the student financial assistance programs that are available in the country so that you can make the best use out of them when the time comes for you to seek a student loan.
Student loans are available from the Canadian government and a host of territorial and provincial governments to ensure that you are able to make it through your studies fully paid for.
As a student it is important for you to make sure that you are able to find out whether the student loan that you are applying for, is the right one for you.
The main reason for this is because unless you apply for a student financial grant, loans have to be paid back, so make sure that you apply for something that you will be able to pay back when the time comes.
You need to know whether you are eligible for the loan or not, how to apply for any of the Canada student loans, how to manage your loan and whether or not the loans are applicable to you if you are on part-time studies.
As a matter of fact there are a number of financial institutions that also provide financial funding to the students.
Eligibility for a student loan
In the event that you have ever received a student loan in the past, it would be a good thing for you to go through the lifetime limits on student financial assistance so that you are able to figure out whether or not you will be able to get financial assistance; or if you have already exceeded your limits.
Once you have determined whether you are still eligible for financial assistance from the government, the next thing that you will have to do is to proceed with the application.
For all your grants and loans, you will not need to worry yourself with a lot of applications, all you need to get is one application form, and you will be good to go.
Applications are normally available at the student financial assistance website, or through your school. Alternatively you can also get the application documents at the provincial and territorial financial assistance office closest to you.
Application procedures vary from one province to the other. Therefore you need to find out as much information from your regional finance territory. Do not forget that applications for the Canada student loans are supposed to be done every other year.
Once you have filled in and handed in your application, you will then have to wait for the notice of assessment that is sent to you either through physical mail or through email.
For those students who qualify for the loans or the government grants who receive the Master Student Financial Assistance Agreement (MSFAA) you need to read the information attached to it, sign it and return the documents back to the NSLSC ( NATIONAL STUDENT LOAN SERVICE CENTRE).
However, in the event that you are studying on part time basis, you will get two different documents; the Certificate of eligibility for part tie student loans and grants, or the Canada student financial assistance agreement for part time students.
Before you go any further with the application process, you will need to take a careful review of the application documents so that you can confirm whether everything is in order, and also confirm the same with your school.
The reason for this is because this is a legally binding contract, and for the same reason you will have to ensure that you go through it carefully and ensure everything contained in it is correct.
As a rule of thumb, always try and make sure that you have everything in order before you submit your documents.
NSLSC Helpful Tip:
Contact the NSLSC at 1-888-815-4514 to possibly consolidate your student loans immediately after finishing your program or leaving school.