Part-Time Canada Master Student Financial Assistance Agreement/Part-Time Loan Agreement

Part-time students approved for Canada part-time funding must complete the Part-Time Canada Master Student Financial Assistance Agreement (Part-Time Canada MSFAA) before any Canada loans and/or grants can be issued.

Please see the Part-Time Canada MSFAA for a complete description of all terms and conditions.

Instructions for completion will be sent to the student. Students submit their Part-Time Canada MSFAA directly to the National Student Loan Service Centre (NSLSC).

To allow for processing time, the Part-Time Canada MSFAA should be completed at least two weeks prior to the study period end date.

All undisbursed Canada part-time funding will be cancelled if the Part-Time Canada MSFAA is not received by NSLSC or issues with the Part-Time Canada MSFAA are not resolved prior to the study period end date.

One-Time Agreements

The Part-Time Canada MSFAA will generally only need to be signed one-time (when the borrower receives their first Canada loan), so long as the borrower remains a part-time student. However, a student will need to sign a new MSFAA if the student:

• has a break in part-time studies of more than two years, or
• received funding through another province/territory.

In future study periods, if the student has been approved for funding, loans and grants will be issued once the school has confirmed registration.

Distribution of Part-Time Student Loans and Grants

For Canada part-time funding, the NSLSC will:

• send any amount requested in tuition remittance directly to the educational institution to pay for tuition and mandatory fees, and
  
  
• deposit remaining funds into the student’s bank account, or send a cheque to the student (if the student did not provide banking information).

If a cheque is issued to the student, it must be cashed within 180 calendar days or NSLSC may place a stop payment on the cheque. The student will need to contact NSLSC to have a cheque reissued.

For students eligible for the Alberta Part-Time Grant, Alberta Student Aid will contact the educational institution directly to request confirmation of registration prior to mailing the grant cheque to the student.