After You Apply
Track Your Portals
After you apply, the most important thing you can do is keep an eye on your application portals (see ‘Create Your Student Loan Accounts’ section). If there are issues with your student loan or any outstanding documents that need to be completed, you will be notified digitally through your loan portal.
Master Student Financial Aid Agreement (MSFAA)/Alberta Student Aid Agreement
If it is your first time applying for a full-time student loan, most provincial / territorial student loan programs will require that you complete a loan agreement.
Alberta student loan borrowers will need to complete an Alberta Student Aid Agreement. If you are receiving both Canada and Alberta funding, you will need to complete an Alberta Student Aid Agreement and a Canada Master Student Financial Assistance Agreement. These agreements will also be how you provide your banking information so that they know where to send your funding. You will receive an email when the agreements are available in your Alberta Student Aid inbox, along with instructions on how to complete them about 3-5 days after your loan is assessed. Your loan will not be disbursed until you have completed these documents.
Disbursement of Funds
In most cases, you will receive your funds approximately 10 business days after your MSFAA/Loan Agreement has been processed. You can find more information about when your funding will be disbursed on your Student Award letter in your Alberta Student Aid inbox. Please note, the dates in this letter are an estimate only so you may not receive your funding on that exact date.
Typically, 50% of your loan amount will be disbursed at the beginning of your academic year and 50% halfway through the academic year. For most students, this means you will receive half of your funding in the first weeks of September, and the second half in the first weeks of January.
Your funds may first be applied to your tuition and fees, with any remaining funds deposited into your bank account. Student loan and grant funding sent to the University of Alberta will only be used towards tuition and fees and never to pay your book costs, residence, library, or other fees. If your loans do not fully cover your tuition and fees, you are responsible for paying the remaining balance. Keep an eye on your tuition account in Bear Tracks and your personal bank account for the funds to arrive.
Once your student loan has been assessed and confirmed, you will be able to see how much of your student loan/grant is going towards your tuition by doing the following:
- Log into your Alberta Student Aid account
- Click on the application for the current student loan year
- Click on Payment Schedule
- Near the bottom of the Payment Schedule, you will see "Tuition Remittance Requested by Educational Institution." Under this, you may see a dollar amount on the right-hand side with the amount that will be sent to your current semester of outstanding tuition.
Adjusting Your Registration Status
Dropping from full-time to part-time studies may have a significant impact on your student loan funding, depending on your province of residency and time of year.
If you are considering dropping classes, we recommend you contact the Student Service Centre to understand the impact this will have on your student loan. If you are in need of additional support to help make this decision, please visit the Dean of Students webpage for information on available campus resources.