Master British Columbia Student Loan Agreement
You don’t have to be in a master’s program to receive your Master British Columbia Student Loan Agreement. This is the agreement that is sent to all people – regardless of their program of study – who receive student loans in British Columbia. You need to know about negotiating your Master British Columbia Student Loan Agreement.
You must work out the details of your BC student loan before you will receive it, and before you can cash it. This agreement is sent only the first time that you receive aid through Student Aid BC. This agreement informs you of your responsibilities and rights under the agreement, and the terms and conditions of the agreement. You must sign and return this document before you will receive any funds.
This BC student aid agreement covers all of the student loans that you will receive in the future, as you continue with your education. This agreement will not state the amount that you are to receive. That information will be included on the Notification of Assessment that you will receive each time you get a new BC student loan. There is just one Master agreement.
Once you receive your BC master agreement, there are certain steps that you need to follow in order to receive and cash your loan. Start by confirming your enrollment. This is a step that your school must actually take. In most cases, this is automatically done by your school, but in some cases it doesn’t happen, so you need to double check that this has been done. Check with the administration department at your school, or the financial aid office.
The next step is to confirm your identity. This must be done through a Designated Canada Post Outlet, and it must be done in person. You will need your social insurance card, but if you do not have a copy of this, the latest copy of your Canada Revenue Agency Notice of Tax Assessment will be accepted. You will also need a photo identification that is government issued. For this requirement, you can use a passport or driver’s license. School identification usually will not suffice. If your funds will be direct deposited, you will also need a voided blank check that shows your bank account number.
There is a process at the Canada Post Outlet. The agent will confirm your identity, make sure that the agreement is valid, check your signature, and then it is their responsibility to send the agreement to the BC Student Loan Services Bureau for further processing. It is important to note that this process must be repeated for your Canada Student Loan. Therefore, if you are getting loans from BC and Canada, make sure that you take care of both agreements at the same time. After this is done, it doesn’t take long for the BC Canada student funds to be deposited into your bank account. This is usually done on the date that is shown on your assessment.
Sometimes, there are other requirements for receiving your BC student aid funds. If you are under the age of 19, you must have a guarantor for your loan. There are also special requirements for those who are studying outside of Canada, or outside of British Columbia, where showing up to prove your identity and process your master agreement is impossible. Visit Master British Columbia Student Loan Agreement to get more information about arranging your BC student aid.
You will also be able to see a sample Master Agreement at this site, and get information regarding what to do to receive your funds if you must have a guarantor, or if you are unable to appear in person to prove your identity and process the agreement.
British Columbia Student Loan Resources
BC Student Loan Application First Steps
