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Canada
Student Loan Information
Receiving your Canada Student Loan
Confirmation of Enrolment
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Summary of Documents Required
Receiving your Canada Student Loan
(CSL)
Once you have applied and been approved for a Canada Student
Loan (CSL), the Certificate of Eligibility (also called a Schedule
1) will be mailed directly to you. Once classes begin, your
educational institution must complete the Confirmation of Enrolment
portion proving that you attend on a full-time basis. The school
will indicate how much tuition is required and this amount will
go directly to the school on your behalf.
You must then take your completed Schedule 1 form to a designated
Canada Post outlet, where you will also complete a CSL Agreement
and attach it to your Schedule 1. In order to submit your Schedule
1, you will need a valid photo ID and your SIN card.
You should attach a void cheque or direct deposit information
to the loan documents, and your funds will be deposited directly
into your account within 5-10 business days. Students who do
not attach a void cheque will receive their loan in the mail
within
2 weeks.
Confirmation of Enrolment
Returning Students
Students returning for another year of study with a CSL must
send a copy of their transcript from the most recent year they
had the loan. For confirmation of enrolment, students may obtain
an official listing of their marks through WebAdvisor, and Canada
Student Loan will accept this in lieu of a transcript sent directly
from NSAC. If students are attending Spring or Summer sessions
they must submit a completed ‘Confirmation of Program
– Spring/Summer Session’ form.
Reapplying for a Student Loan
When students are attending school full-time, their CSL is interest
free. However, this is not automatic, and students that return
to school and reapply for a student loan must confirm their
full-time enrolment.
Interest Free Status
As long as a student remains in full-time studies, their student
loan remains interest free. If a student returns to studies
without a student loan, they are still exempt from interest
accumulation. However, students must have a Schedule 2 form
completed by their institution to confirm their full-time status.
A CSL begins to accumulate interest on the completion date stated
on the loan document but students have six months before they
must begin to repay the loan, either upon completion of their
program or if they decide not to apply for another student loan.
Summary of Documents Required
by CSL
| Student Status |
Required Document |
| First year student with student loan |
No confirmation of enrolment required. Schedule 1 signed
by Financial Services confirms full-time attendance at NSAC
and can be signed on or after September 1st. |
| Student returning with student loan |
Transcript required confirming academic standing. A listing
of marks from WebAdvisor, as printed by the student, is
also acceptable. |
| Student returning without student loan |
Schedule 2 signed by NSAC Registry is required to maintain
interest free status |
Money Matters | Funding
Your Education
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