After you are Approved for Loans

 

 

 

Once you are approved:

  • Step 1 - Receive Award Letter - This will tell you provide details on the break down of your loan and grants
  • Step 2 - Complete your Student Aid Agreements - Before you can receive any student loan or grants, you need to complete your Master Student Financial Assistance Agreements (MSFAAs). The MSFAA is a one-time legal agreement between you and your loan provider. There are seperate loan agreements for Alberta and Canada.

You will receive a loan agreement in the following situations:

  • The first time you apply for full-time post-secondary funding,
  • If you have had previous and return to school after a break of 2 years or more, or
  • You have had previous funding from another province

You will need to log back in to your MADI account and follow the instructions:

If your name, date of birth, or Social Insurance Number, are incorrect on your loan agreement, you need to contact the Alberta Student Aid Service Centre to determine how to correct your information and request new loan agreements.

The school is required to complete some sections on your paper part-time loan application. Once your application is submitted Alberta Student Aid will process the details and provide access to the school to approve the funding. The school can request a tuition amount and then the balance is deposited in to your personal bank account (make sure to complete the Master Student Financial Assitance Agreements.

When all conditions are met, and the school has confirmed full-time/part-time registration for the study period, you will have your loans disbursed electronically.

  • Normally tuition and fees will be paid directly to the school from your student loan, for the courses you are registered in at that time. However always check your balance via the Bridge as the system is not always accurate.
  • The remanining balance of your loan will be deposited directly in your bank account, OR a cheque will be mailed to you (if you did not provide your banking information).

If you are eligible for grants, you will now recieve any funds via your bank account. if you only want to be assessed for grants, complete a student loan application form on-line and at the end of the application form if you put that you require one dollar then they will assess you for just the grants.

Your situation may change over time and it is important to inform Student Aid Alberta of the following:
  • You need more money than you anticipated
  • Higher living costs
  • Recently married or separated
  • Spouse/partner income changes
  • Name/Address change
  • Change of institution
  • Changes to education costs, change of study period dates

For any of the above reasons you will need to submit a Request for Reconsideration Form (Level 1) via your MADI account