Canadian Students - Government Loan Information

The federal and provincial governments of Canada offer Canadian students educational funding support through:

Are you applying for a government student loan for the Academic Year (Sept-Apr)?

Most provincial student loan sites have the applications available online  (see below for applicable links). Apply early to ensure your funds are available at the beginning of the Fall term. You only have to apply once through the provincial government to receive a loan assessment from both the federal and provincial governments. Once you’ve applied and been approved you will receive a package from the government with very important documents in it; this package will be sent to the address you provided at the time of your loan application.

 Spring and Summer Student Loan Requirements

The most important document you will receive is the Master Student Financial Assistance Agreement (MSFAA). This is a one-time contract that you’re signing with the government stating that you understand your loan responsibilities. Once you’ve signed this, you’ll never have to sign another MSFAA with the government again unless you take a 2-year break in your studies or move to another province.  

What do you do with the Master Student Financial Assistance Agreement (MSFAA)? You take it to a designated Canada Post outlet (there’s a list in your package), along with your SIN (Social Insurance Number) card, a piece of Government Issue photo ID and your banking information (voided cheque). The post-office personnel will take the document from you, stamp it and give you a copy back.  They will then send it off to the National Student Loan Service Centre. 

NS, ON, MB, BC, NL and SK Residents The Student Accounts office will receive an electronic notification of your student loan funding; you will not have to line up with any documents in September or January!  At the beginning of each term Acadia will electronically request the necessary funds from your loan to pay your semesters fees. 

If you’re receiving more funds than necessary to pay your Fall fees then you will receive a deposit in your personal bank account for the difference. 

If you’re not receiving sufficient funds to cover your Acadia costs you will need to make other arrangements to pay the difference. You will know what amount you’re receiving for loan funding from the Letter of Assessment that will be included in your MSFAA package. Once we’ve assigned the funds to come to Acadia, you will receive an email at your Acadia email address detailing the disbursement. 

Quebec Residents - For full time student loans, undergraduate students must be registered in at least 4 courses (12 hours a week class time) per semester. Graduate students must be registered in at least 9 hours a week class time per semester.

For all other provinces and territories Once you’ve submitted your MFSAA; either your loan documents will be sent to you or they’ll come to Acadia. If they come to Acadia we will send you an email to your Acadia email address letting you know to come in to have them signed. If they go to you, you will need to bring them into the Student Accounts office for signing.