What Is A Master Student Financial Assistance Agreement

Students submit their agreements directly to service providers and receive their funding from service providers. If a student`s agreements are incomplete or have errors, the appropriate service provider tries to contact the participating (s) participant to resolve the issue. Example: If a student files his FULL-time MSFAA Canada but does not file his Alberta student aid agreement, he receives only his federal funds and vice versa. Your MSFAA does not show you how much you receive federal and regional loans or grants. 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. Below is a summary of some of the conditions for obtaining educational assistance. By signing the contract, the student agrees to all conditions, including (but not limited to): this document replaces previous loan contracts of Confederation and the provinces and sets out all conditions for accepting and repaying national and federal funds. If your financial institution is not a SecureKey login partner or you don`t want to use this service, you can access login information (username and password) via GCKey, a Canadian government service. 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 specify the amount for which you qualify; You will receive a separate assessment notice from your province or territory, which will inform you of the amount you receive in federal and provincial loans, as well as any Canadian provincial scholarships or scholarships for which you can qualify. MSFAA describes your responsibilities and the conditions for accepting and repaying your student loans. In future study periods, when the student has been approved for funding, loans and scholarships will be awarded once the school has confirmed enrolment. You will also find convention presentation instructions on the Alberta Student Aid website: Here are the terms of your MSFAA if you are a full-time student residing in: If a student is admitted for the first time to full-time funding, he must enter into a “loan contract” before the money can be issued. There are two separate agreements: contracts generally only have to be signed once (if the borrower gets their first loan at the federal or provincial level) as long as the borrower remains a full-time student. However, a student must sign new contracts if the student: THE MSFAA is a federal and provincial loan contract of several years. It describes your responsibilities and the conditions for accepting and repaying your student loans. If you sign your MSFAA, you sign two contracts: one between you and the Government of Canada and the other between you and your provincial government. In order to allow for processing time, agreements should be concluded at least two weeks before the end of the study period. All unpaid funds are cancelled if agreements are not reached with service providers or if the problems related to the agreements are not resolved before the end of the study period. 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).