The Master Student Financial Assistance Agreement (MSFAA) is a legal document that defines your responsibilities and the conditions for accepting and repaying your student loans. MSFAA is a multi-year contract. Students who are part of the following groups must complete the MSFAA to obtain public funds (subsidies and loans) for the academic year: your MSFAA does not show you how many federal and provincial loans or grants you receive. You will receive a separate assessment notice from your province or territory to inform you of the amount of financial assistance you receive for students. SecureKey registration partners are groups such as banks and credit unions that have partnered with SecureKey Technologies to enable their customers to use their credentials online (. B, for example, card numbers or usernames and passwords) to access administration services. Your bank details will not be passed on to the government via this service. See the list of participating banks. The Master Student Financial Assistance Agreement (MSFAA) replaces the old loan contracts of the Confederation and the provinces. Because it is a multi-year contract, it is more efficient and easier to use. For example, you don`t need to sign a new agreement when you apply for student financial assistance (unless you have a two-year study period or you create your residency in another province/region).
After your MSFAA has been processed by the NSLSC and before your student loan and/or scholarship can be unlocked, your school must confirm that you are participating in a full-time post-secondary program that is eligible for the entire study period for which you have received funding. If you agree to MSFAA`s terms and conditions, your consent will apply to all funds created from that date. The next time you apply for student financial assistance, you won`t need to submit a new MSFAA. Simply complete a StudentAid BC application and submit it and show your assessment opinion. The money you are entitled to is deposited electronically into your account and/or transferred to your school to pay for your courses. If you receive more than one student loan during your application period (see assessment note), your school must validate your registration each time before the money can be distributed to you. Within two to three business days of receiving your evaluation notification letter (NOA) on your StudentAid BC Edge Up-board account, you will receive a “welcome email” from the National Student Loans Service Centre (NSLSC). Your NOA will be published on your StudentAid BC dashboard after the full-time evaluation of your application.