national student loans service center contact
hello and welcome to student loans 101 presented by the University of Alberta my name is Sachin and I work in the office of student financial support. national student loans service center contact a part of the office of the registrar we are not a part of Alberta Student Aid but our office has helped many students apply for the government student loans just like we hope to do in this video a few notes before we begin this presentation offers general information.
About the loan application if you have any specific questions please feel free to contact the University of Alberta through student connect or contact alberta student aid directly as you may have gathered this presentation only focuses on full time alberta residents attending the university of alberta if you’re applying for a loan from another province or if you are a part-time student please see student connect or your home province for more information the following video is split into two main parts first I will briefly review general information about the student loan process in Alberta the second half of the video will go over each section of the online application well I hope you stay with me and feel free to skip ahead to the application section if you need to as I mentioned you can contact student connect on the main floor of the administration building if you have any questions at all about anything mentioned in this presentation you can visit them in person or visit you a BGA slash ask SC okay getting started this is an overview of the student loan process in Alberta first you will need to register in classes well it is not required that you will be registered in your classes it is easiest to apply if you are in all of your classes this means that if you are applying for a full-time student loan for fall and winter you will need to be registered at least full time for fall and winter for your loans to be confirmed if you apply and you are not registered full time for fall and winter your loan application will be assessed but it will not be confirmed and your funding will not be disbursed for most students full time equals nine credits asemester or generally three courses a semester just a note for students register with our accessibility resources office this may be different it does not matter if you swap a course as long as you remain full-time after applying for the student loan okay now that you’re registered you can go ahead and apply for your full-time I’ll burn a student loan the full-time application through Alberta Student Aid is actually three applications in one on this application you’ll apply for an Alberta student loan a Canada student loan and grant funding you can log into the application using the Alberta student aid website the login system is called s I AMS or as I’ll be calling it science and is the same system that you use to apply for apply Alberta or the Rutherford scholarship the link is listed on this slide if you’re having any trouble logging into science you will need to call the Alberta student aid science help desk and the contact information is on their website it can take up to four weeks for an application to be processed but most students will receive an assessment much faster than that if you have forgotten to include something on your application or if you’ve made an error you can always send in an appeal Appeals can take up to six weeks to be processed and need to be submitted six weeks before the deadline after you apply for your loan and it is submitted it is sent off to Alberta student aid in downtown Edmonton to be assessed some general information about assessment parental income will not impact the ability to receive student loan funding for dependent students this is a big change from what it was a few years ago parental income is still considered for grant funding for dependent students but it will not affect the student loan dependent students generally those who are under 23 can choose not to put their parental income on the application but you will not be considered for grant funding if you choose to do so adding the parental income will not hurt your chances at the loan and I will talk a little bit more about the difference between a dependent and independent student in just a little bitstill what our grants grant funding is funding that can be added on top of your student loan it is available based on some special eligibility criteria.
the main types of grants are those based on family income grants are non repayable which is great but they are usually not enough to cover all of your expenses for more information you can check out the following website on this slide how does grant funding work your eligibility for grant funding is based on your gross income from your last year’s tax return or the line 150 if you’re a dependent student then the grant funding is based on your family income a note for Alberto student aid definitions a dependent student has nothing to do if your parents are supporting you or not generally a dependent student is someone who is single with no dependents under the age of 23 an independent student is someone who is either over the age of 23 has been out of high school for more than four years took a two-year break from full-time studies after high school has dependents is married or common-law you can find out more about dependent versus independent status on the Alberta student aid website which is on this slide so again if you are a dependent student national student loans service centre contact than the grant funding is based on your parents income grant funding for independent students is based on your income alone if you are common law or married grant funding is based on you and your partner’s income after you submit your application it is very important to keep an eye on your email and your Alberta student aid account when you complete the student loan form you will need to set up a notification preference so that you receive an email or a text message when you have a message waiting for you in your Alberta student aid inbox information and documents that appear in the Alberto student inbox are very important so do not ignore them you will receive some important documents that need to be dealt with before your funding is disbursed after your loan is assessed by Alberta Student Aid you will need to be on the lookout for some important documents in that Alberto student aid inbox the main document that every student will need to complete once is called the master student financial assistance agreements or MSSA the MS faas are important documents that will need to be completed the first time you apply for funding these documents essentially lay out the terms of your loan and that you agree to pay them back. it will need to be completed before your funding is released you will receive an alberta ms faa if you’re receiving alberta funding and acanada MSSA if you’re receiving Canada funding the MSF AAS will be generated into your Alberta student aid in box two to five days after the loan success so they won’t be ready right away you will receive information about how to complete the MSF phase once they have been generated into your Alberta Student Aid inbox the Alberta mas FAA is a paper document that you will need to download and print from your Berto student aid inbox and take to a Canada Post Office you will need to bring a piece of photo ID your SIM card and banking information so that they know where to deposit the money the Canada M SFA’s are a little bit more high-tech and will need to be completed online through the national student loan service center portal or NS o SC if you’re having any trouble logging into the NS l SC portal you will need to call NS l SC directly aside from the Alberta M SFA’s you may receive other important documents in your Alberta Student Aid inbox for example students who are married or common-law you will need to complete a consent and declaration form before your loan is dispersed now that you have completed your msf AAS it is the University of Alberta Stern to do some work we will be asked to confirm your registration at this point we will be asked to confirm that you are registered as you indicated on your student loan if you’re applying for a full time student loan for fall and winter you will need to be registered again full time for both fall and winter it is important that your health and academics always come first when you’re deciding if you want to drop courses during the year especially you feel be dropping to part-time but if you do decide to drop to part-time it may impact your funding so please come see a student connect if you have any questions about this at all after we confirm your registration your loan will be dispersed funding is generally dispersed one two three weeks after your loan is confirmed by the University of Alberta just a note you will receive a notice of award letter that informs you of your disbursement dates the letter will tell you that your loan will be disbursed on an exact date for example September 1st these dates are approximate and you can expect to receive that funding the week of September 1st if you’re applying for two semesters your loan will be disbursed in two disbursements 50% will be disbursed at the start of your program which is usually September and 50% will be disbursed halfway through your program which is usually January a portion of your loan or grant may go directly towards your tuition but it will not be put against your residence or book fees while this can work very well you do not receive a notification when it has happened so keep an eye on your bear tracks account and your bank account for the funds to arrive if there is any tuition that did not get paid by your student loan for example if you picked up a class it will be up to you to pay the remainder of your tuition so it’s always a good idea to keep an eye on your bear tracks account and your bank account after that you’re all done okay now just to review some quick frequently asked questions before we start on the application section number one do I need to apply for a loan every year that I need one yes you will need to apply for a loan every year that you need one Alberta student aid doesn’t know that you need a loan every year of your program number two what if I had a loan last year and I don’t need a loan this year if you choose not to apply for a student loan but we’ll be continuing as a full-time student you can apply for interest-free payment free status this will place your previous Alberta and national student loans into interest-free payment free status for more information visit student connect or check out the interest-free status section of our website number three what is the interest rate on your student loan well the short answer is that the Alberta student loan is prime and the Cannabis student loan is prime plus 2.5% and note that these can change before the time you graduate the long answer is that your loans are interest-free and payment free while you are a full-time student and as long as you’re applying for the interest free status mentioned on the last slide so for example if you have a student loan from your first year and if you never need another loan again for four years of an undergrad three years in a graduate program and other six and a PhD your student loan from year one will be interest-free payment free that whole time this is often a much better deal than you’ll receive from any student line of credit from a bank there is also a great program called the repayment assistance plan once you graduate or stop being a full-time student you can check out more information about that on the national student loan service and our website number four lastly how do I manage my student loan or find any information about how much I have borrowed etc on the next slide I will go over a few of the places that you will have access to check on your student loan the Alberta Student Aid portal is where you’ll go for information about your current student loan again don’t ignore this inbox the next two portals will give you overall information about any student loans that you have already borrowed the my loan portal is where you’ll go for information about your Alberta student loan and the NS LLC portal is where you will go to find information about your canada student loan it’s also that same place where you’ll do your MSSA portal 2 and 3 are incredibly useful once you’re in repayment but we really strongly suggest that you check in on these portals once or twice a year there is no other place that you can see the status of your loan and the total amount borrowed in short don’t ignore any of these portals alright thanks for staying with me now it’s time to look at the application as I mentioned earlier you will access the application from the Alberta student aid website or student aid alberta CA once you log on to your l / – student portal you will see the welcome screen at the top its the inbox and that’s where you’re going to receive all of your important documents including the MS fa8 remember to check this inbox scrolling to the bottom of the welcome screen you can see lots of other things that you can do in this portal this is where you can find that Rutherford scholarship application update your address and notification preferences keeping your notification preferences up to date is a really good way to make sure you don’t ignore your inbox once you are ready to apply for your student loan you can click on apply for 2018-2019 just a quick note there is no save button on this application if you need to log off the application any point it will save automatically for seven days you can see this note just on the bottom of the application once you have opened the 2018-2019 application you will see the application summary screen go ahead and click on start under the personal information section the first page of this section is fairly straightforward answer your personal information as best you can just a note for the marital status question common-law for the purpose of Alberta Student Aid is living together in relationship for one year this might be different from other definitions of common-law the next page is also pretty straightforward you will need to indicate your notification preferences here this will let you know when you have mail in your Inbox after you put in your notification preferences you may be asked to verify your email or phone number so you may need to log into your email before you can continue moving on the application next we have the additional information section which has some pretty important questions on it first if you are confused at all about the first two questions and you have not lived in Alberta your whole life you may want to contact student connect for more information just to know highschool does not count as being full-time student for this question the next few questions ask some specifics about your situation if you do not know the terms permanent disability ward of the crown or indigenous status these do not apply to you try to answer the questions as truthfully as possible the last two questions of this section are very important I’ll start by saying that completing your taxes is a requirement for receiving a student loan it does not matter if you did not work or if you’re under 18 you will need to provide your line 150 to be assessed for student loan funding if you do not have your line 150 then you can guess but you will need to then go and complete your taxes and update Alberta student aid if there is a discrepancy between your guests and the actual line 150 it is important to always update these things in the event that your audited if you have any questions about this please contact Alberta student aid directly the last question on this page is askin if you expect that your income will be lower in 2018 than it was on your 2017 taxes for example if you were working full time last year but you will not be working at all during the school year then your line 150 from 2017 will likely be higher than it will be for the 2018 2019 school year this question is a way to recognize that you may not have the same income while you’re in school as you did last year if you expect your income to be the same or higher just leave this question blank the emergency contact information is pretty straightforward this person is not co-signing the loan and it is only meant for an emergency contact and that is it for section number one on to section number two studies information the first few questions will ask about your educational institution and program for educational institution. you will choose University of Alberta even if you’re at campus Asia for the next question you will choose your program name for example if you are in engineering you will choose Bachelor of Science in engineering if you’re in nursing you will choose Bachelor of Science in Nursing if you are in an after degree you will choose that program name for example Bachelor of education there is no way for you to distinguish that you’re an adapter degree in the programming if you’re studying at Augustana you will choose your program with parentheses Augustana and if you’re studying at campus ain’tcha you will choose your program name which will be listed in French for your specialization you will choose whichever specialization or major you are taking if you’re undeclared you will choose general under your program name for example if you’re in science it’ll be under science general which is under the S in the drop-down menu you will then choose your year of study if you’re in an after degree you will choose your three or year four for example if you’re in first year of your life degree you will choose year three if you’re in your two you will choose your for graduate students will choose either year one or year two whichever you are closer to after you choose your program name and new year you will see some program dates Auto populate if you do not see the dates it means that something may have gone wrong with your program name we strongly suggest you contact us if you do not see your program dates Auto populate we don’t recommend entering your own dates without giving us a call if you would like to apply for a loan for fall and winter for example you can go ahead and choose the september to april dates if you would like to apply for a loan just for a fall you can choose a September to December days if you’re an undergraduate student and you’d like to apply for spring summer courses you will not be able to do so until February 2019 in February you will see the dates in this application for spring and summer classes if you’re planning to apply for spring and summer please come see us in early February because spring and summer can get complicated the education costs for school term section is worthy will indicate how much your tuition fees and books will be each white box will need to be filled in on this page and do not put 0 in these white boxes the numbers in gray above the white boxes are the standard amount for a full course load no need to look in bear tracks similar to the auto-populated dates on the previous page if you do not see these costs please let us know if you’re taking a full course load and for most undergraduate students this is 5 courses a semester you will just go ahead and write down the full course load amount in the requested amount white box if you’re in the program that does not allow you to choose a number of courses you want to take simply write down the full course load amount for example engineering or medicine nursing nursing or pharmacy you will only need to do the math if you’re taking fewer than the full course load amount for example if you’re an undergraduate student and you are taking 4 courses a semester and a total of 8 for fall and winter you will need to multiply the number of courses by the cost of each course which is five hundred and thirty two dollars in this example it would be eight times five hundred and thirty-two if you’re taking three courses a semester it would be six times five hundred and thirty-two for mandatory fees you can write down the number in the gray in the white box the mandatory fees are the same for everyone no matter how many courses you take for books supplies and instruments this will be similar to the tuition section if you are taking a full course load you will just write down that amount for the full course load in the requested amount white box if you’re not taking a full course load you will need to calculate your book costs for example if you’re in a bachelor science taking nine courses you will need to calculate nine times 120 we have done some of that math for you here on this slide again if you’re in a program that does not allow you to take less than a full course load amount you’ll simply write down the full course load amount amount in the white box lastly for computer costs they will assess 500 for computer related costs like ink and paper so you can go ahead and just write down 500 on the next stage asks about correspondence or distance learning and if you’re studying at the University of Alberta you are not enrolled in correspondence so you can just go ahead and answer no the last question on this page you can write in your seven digit university of alberta ID number you can find this number on your bear tracks or your one card moving along to the financial information section just note about this section you are going to try and answer each question as accurately as possible and making sure that you’re reporting it monthly so the first question asks if you will be paying child support not if you’re receiving it the next question asks if you’ll be paying rent or mortgage while you’re in school for example if you’re living with your parents and not paying rent you would indicate no if you are living with your parents that they are requiring that you pay rent you would indicate yes answer as best as you can for now and if anything changes throughout the year you can always update Alberta Student Aid the next section asks you to indicate if you’re receiving any of these specific resources while you’re in school again make sure to indicate these resources as monthly if you do not have any of the resources in this section you simply type in zero the first question asks you about your parents if you are receiving any funding from your parents voluntarily you will need to report this if your parents are paying for tuition for example you need to take the amount that they’re giving you for tuition and divide it by eight if your parents haven’t RESP you will need to indicate the amount that you’re receiving this year and divide it by eight if you’re not sure if your parents are supporting you this year or if you have an RESP it would be best to chat with them before filling out this section for the other questions on this page generally I say if you do not know what they are then you do not have these resources if you are receiving AGI or band funding just remember to report it monthly income from other sources includes rental income or retirement pensions you can click right on the question to see more details about that do not write in your salary income you major in the summer or income you will be expecting to making throughout the year you do not need to report this on the application in the additional resources information section you will need to indicate if you have any non registered investments not including TFSAs or rsps there will be more information on what those are if you click on that white box for scholarships only indicate if you know for sure if you’re receiving a scholarship if you have applied for a scholarship but you’ll not sure yet if you’re going to be receiving it do not include it here if you get a scholarship later on you can always let Elbert a student aid know once you know what you are receiving annual resources would be gifts or contributions from family who are not your parents also if you’re receiving funding from an employer to go back to school again you can click right on that white box for more information for any resources that you are not receiving in a section you little set right in zero I will go over the parental schedule if you’re a single independent student you can feel free to skip ahead to go over the final parts of the application those students were independent or who have a spouse will need to complete one final section if you are a dependent so again if you’re under the age of 23 do not have kids did not take a two-year break after high school you’re not married or common-law and you do not see the section called the parental schedule it means that you may have missed something in the personal information section take a look to that section and if you can’t find what went wrong please contact student Annette for the next little bit I’ll be going over the parental schedule but the spousal schedule is fairly similar if you have any questions that I don’t cover just let us know so looking at the parental schedule the first section asks about your parents residency information fill out this information to the best of your ability on the next page if you would like to be considered for grant funding you will need to answer yes to the first question if you do not want to put in your parents income information or if you do not have it then you will answer no you will not be considered for grant funding and you will not need to finish the rest of the parental schedule again there is no harm in putting in your parental information it can never affect your ability to receive the student loan it can only potentially allow you to be assessed for grant funding on the next pages of your application you will put in the information for your parents if you are only living with one parent & parent number two is not living in your household and is not supporting you you do not need to put information in for parent number two if you live with parent number one and a stepparent the step parent would be parent number two all family situations are unique and if you have any other questions about this section just let us know similar to earlier in the application you will need to indicate the exact line 154 your parents if your parents do not have their line 150 then they can guess but you will need to complete your taxes and update Alberta student aid if there’s any discrepancy between the guests and the actual line 150 if you have any questions about this please contact Alberta’s student aid directly it’s important to always update these things in the event that you are audited again there is a way for your parents to indicate if they’ll be making less for the upcoming year than they did on their 2017 taxes the last page asks miscellaneous information about your family just a note that the number of people in your family includes you at this point if you have dependent children you will have to complete a section for them if you have a spouse or common-law partner you will need to complete a spell so schedule if you have any questions about these sections just let us know for now we will loop on so if you’re ready to move on you can go ahead and click on proceed to submit if you have missed any questions you will see this error message you will have to go through the sections and see what information is missing and complete any of those missing questions once you have completed all of the questions you will see this green message and you can go ahead and click Submit application now you may have thought you had completed your application but you do actually have one final question so on this page you will see an automatic assessment this is not a guarantee but it is a good estimate of what you can expect to receive from student loans if you do not see that preliminary assessment do not worry it doesn’t mean that you’re not receiving any loans it just means that your loan is still being assessed on this page you can choose to cap the amount of loan funding that you receive this means that if you choose to only receive for example $5,000 you can choose to borrow $5,000 even if you might be eligible to receive more it is up to you if you cap your funding you can choose to appeal to receive that additional funding again later but it will take up to six weeks to be assessed you can only appeal six weeks before your end of study date if you’d like to receive the maximum amount of funding that is available to you just leave this space blank do not answer zero dollars on this question or you will receive zero dollars the next page is the application declaration information section please take the time to look over and read this information we are all guilty of ignoring these sorts of agreements online but this is a student loan in your name from the government and it is important to read this section over once you have read it over and you have quit that you understand you can go ahead and submit the application for real this time after you’ve submitted the application remember to keep an eye on your Alberta student aid portal right after you submit the application you will be able to click home on the top right hand
corner which will take you back to that welcome screen the inbox will be at the top of the welcome screen the inbox on the portal is where you will find your notice of award letter but also those masters student financial assistance agreement documents that you will need to complete keep your notification preferences up to date and don’t ignore mail that comes into this inbox sign up for a my loan account if you have Alberta funding and an NSL SC account if you have federal funding and check them regularly and that is it for this video congratulation on completing your student loan application please contact us at student connect if you have any other questions at all thank you so much for listening and good luck on your application.