Student Funding

Student Life

• How do I apply for a government student loan?

  Apply for your loan through your province of permanent residence. You are a permanent resident of the province or territory where you have most recently lived for at least 12 consecutive months while not at college or university. Apply on-line or download a paper application.

  • Contact the Olds College Office of the Registrar for help in determining your eligibility, or through your province of permanent residents: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland, Nova Scotia, Ontario, Prince Edward Island, Quebec, Saskatchewan, Northwest Territories, Nunavut, or Yukon. 

  • Apply early. Processing may take up to six weeks. After your application has been processed, you will receive a Student Award letter letting you know the amount of funding you are eligible to receive. If you are denied funding, it will outline the reason(s).

• How can I check the status of my funding application?

  If you have applied for a full-time student loan through the province of Alberta, a paper application could take four to six weeks to be approved. If you apply online in Alberta, you may see the results of your assessment immediately.

  If you have applied for a full-time student loan through another province, a paper application could take six to eight weeks to be approved. Most provincial student financial assistance web sites have an on-line application.

  There are several ways to check the status of your application. Whichever option you choose, you'll need your social insurance number.

  • Log-in to the student financial assistance web site of your province.
  • Call the student financial assistance of your province or territory. In Alberta, call the Student Aid Alberta Service Centre at 1.855.606.2096 (toll free anywhere in North America).
  • Call or visit the Olds College Office of the Registrar, telephone 1.800.661.6537, extension 4677.

  If there is a problem with your student loan, your first contact should be with the student financial assistance office of your province or territory.

• How/when will I receive my funding?

  Once your application has been assessed and you have been approved for full-time funding, you will receive the following documents:

  • Student Award letter. Outlines the type of funding you have been approved for (loan, grant/bursary), the amount of money you have been approved for, and when you are eligible to receive your money.
  • Master Student Financial Assistance Agreements (MSFAAs). One-time legal agreements that contain the terms and conditions for receiving student aid.

  Once you receive your MSFAAs, you'll need to do a few things to receive your funds:

  • Review your agreements.
  • Provide your banking information - submit 2 void cheques or fill in your Canadian banking information in the Electronic Funds Transfer section in Part C on both of your agreements.
  • Sign and date your agreements.
  • Submit your agreements at a designated Canada Post Outlet. You'll need to bring:
    • official government issued photo ID - your driver's license, passport or citizenship card
    • your social insurance number card or a copy of Canada Revenue Agency Notice of Assessment, a Canada Pension Plan Statement of Contributions or other confirmation of SIN from Service Canada.
    • your 2 void cheques OR completed banking information.

  You'll also receive some important instructions on how to complete your MSFAAs along with your agreements. It is important for you to read and follow the instructions so you can get your funding.

  Your loan or grant money will be deposited directly to your bank account or forwarded to your school to pay your academic fees (e.g. tuition) on or after the first day of classes. 

  While there are exceptions, you normally get two disbursements of money in a year, depending on when you apply: one will be during your first semester and the other during your second semester. If your financial situation changes before you start school or while you're studying, you must inform your provincial or territorial student assistance office.

• How do I apply for a government student loan?

  • Apply early. Your application will take six to eight weeks to be processed. 

  • Contact the Olds College Office of the Registrar for help in determining your eligibility, or through your province of permanent residents: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland, Nova Scotia, Ontario, Prince Edward Island, Quebec, Saskatchewan, Northwest Territories, Nunavut, or Yukon. 

• How/when will I receive my funding?

  • If you are approved for part-time loan funding, you will be sent a Certificate of Eligibility Part-Time Student Loans and Grants and a Canada Student Financial Assistance Agreement for Part-Time Students.

  • The Certificate of Eligibility details the types and amount of your part-time student financial assistance and also includes the confirmation of enrolment section that must be completed by Olds College.

  • Submit your Certificate of Eligibility and Student Loan Agreement to a designated Canada Post outlet along with required identification.

  • Your loan or grant money will be deposited directly to your bank account or forwarded to your school to pay your academic fees (e.g. tuition) on or after the first day of classes.