Acadia University - Canadian Students

We make every effort to provide counseling to potential and current Acadia students in completing applications for assistance under Canada Student Loan/Provincial Student Loan program.

Canada's student aid and education planning website has helpful tools and calculators:

• Grants and Loans
• Aid Estimator

Application Process

If you are applying for a government student loan, apply early to ensure your funds are available at the beginning of the term.

• You only have to apply through your provincial government to receive a loan assessment from both the federal and provincial loan programs.
• Canadian residents must apply through the province or territory they have reside in for the past 12 months prior to entering their program of study.  For most students, this is the province or territory where they graduated high school.  
• If you require a program information form (this could also be called a program cost form), please contact onestop@acadiau.ca

Follow-up steps

Additional steps in most programs include:

• Declaration of Consent, Student and Parent(s): this gives the loan program permission to verify your tax information with Canada Revenue Agency.
• Master Student Financial Assistance Agreement (MSFAA): This is a very important legal agreement between you (as a borrower) and the Canada Student Loans program (as a lender). It outlines your responsibilities and the terms and conditions of accepting and repaying your Canada Student Loans. The MSFAA must be completed the first time you get a Canada Student Loan, and it remains valid as long as you continue to borrow new Canada Student Loan funding. It expires once you have not applied for two consecutive years or move to another province.

Disbursement

• Part-time funding is paid out in one disbursement, at the beginning of your study period. Full-time funding is usually paid out in two disbursements, at the beginning and at the halfway point of your study period. For most undergraduate students this is at the start of the fall and winter terms.
• The remainder of your awarded funds, if any, will be deposited directly to your bank account. Your loan program will have your baking information from your completed MSFAA.
• The University must complete a Confirmation of Enrolment (COE) before your funds can be disbursed. COEs are completed and returned to the loan programs in the order they are received. A separate COE is required for each disbursement of funds.
  • A COE will be sent to the university by your loan program, you do not need to request it.
  • You must be registered in all of your courses (not waitlisted), for the full study period, before a COE can be completed.
  • You will see messaging that they are waiting on your school to complete the COE before it has actually been made available to the university to complete, there is a processing delay of up to 5 days in this messaging.
  • Once the COE is returned to the program, it typically takes 4-10 business days for the funds to be applied to your student account and/or deposited to your bank account.
  • These two actions do not always happen on the same day, it is common for the university to receive its share of your funding first, and the rest be deposited to your bank account a day or two later.
• If you apply and complete all required tasks in a timely manner, your COE should be processed and funding disbursed in time to meet the university’s payment deadlines each term.
• If your student loan has not arrived by the due date and you require a payment extension, please submit a Hub ticket.
• Some programs require an additional form to be completed before winter term funding will be made available. For example, students participating with Nova Scotia Student Assistance or Prince Edward Island Financial Services must complete a Pre-Study Report through their MyPath account before the second COE can be released to their school in December.
• The programs in the Northwest Territories, Nunavut, Quebec, and the Yukon make all funds payable to the student only and then you make payment to your school.
• Student loan offices may request additional information including transcripts from previous study, proof of residency, details of RESP's or other investments, etc.

If you have a student loan during the September to April academic year, and have an unmet need, you can also apply for support through Acadia’s bursaries program.

Hard Copy Forms

We understand you may have hard copy forms that you require our office to complete for your student loan program. Please visit OneStop Student Service in the Beveridge Arts Centre (Room 112). Ensure you fully completed any student sections on the form. OneStop office will complete the institutional section.