When should I apply for financial aid?
You should apply as early as May on-line with the Ministry of Education of your own province. You must be Canadian or permanent resident and be registered full time in a recognized program.
When will I know if my loan is approved?
You will get an answer in writing or by email from your ministry after 4 to 6 weeks. You can also check your file on-line with your permanent code number or your S.I.N. number. If you have missing documents, they will advise you and you will have to send any missing documents to your ministry so they can process your file.
When and where will I receive my loan document?
You will receive your loan document at the Business Office when you arrive at Bishop's early September. Some provinces mail your loan document to your home address. Bring it to our office and we will confirm enrolment.
How do I know my loan is in at Bishop’s
You will find posted on our bulletin board various lists by file number (Quebec students) or by S.I.N. (Out-of-Prov. students). We also send a notice to your Bu email.
How do I receive the money from my loan document?
Quebec Applicants: You receive a guarantee certificate from AFE which you pick up at our office and bring it to the bank to set up for direct deposit. You will get monthly instalments as long as you comply with the Afe rules.
Out-of-Province Applicants: We complete the school section on your loan document and request a cheque for your school fees, if you owe fees. You then bring it to your local Canada Post Office where they will inform you on the procedures and responsibilities you have. Your loan will be processed and your funds deposited in your bank account within 5 to 10 days.
What are the delays if I have missing information?
The processing of your file will be delayed for another 3 to 4 weeks if you have documents missing. If you get a letter requesting extra information, send the appropriate forms quickly.
What happens if my loan is received after September 30?
If your loan is received late, you are then responsible for any interest charged on your account starting September 30. If you can pay all or part of your fees before the end of September, you will only be charged interest on the outstanding balance. Otherwise, you can wait for your loan to pay up your fees including the interest.
What happens if my application for government loan is refused?
If your application is refused, please see our office so we can verify if there are any mistakes or reasons to appeal the decision. Also, should you not be eligible for a loan, you must make arrangements with our office for the payment of your fees.
