Financial Aid Information
The following information has been provided by the Student Financial Services Division of Newfoundland and Labrador.
If you have any questions about student loans (i.e. processing, income confirmation forms, appeals, etc.) please contact the Student Development Officer on campus.
- Student Financial Services
- Applying for a Student Loan
- Income Confirmation Process
- Study Period Income
- Appeal Process
- Obtaining your Loan
- Keeping Loans in Goodstanding
- Early Childhood Education Grants
- Debt Reduction Grants
- Interest Relief
Student Financial Services
Telephone: 709-729-5849 - to speak with a representative
1-888-657-0800 (toll free)
Counter hours: 10:30 a.m. - 12:00 p.m. and 2:00 p.m. to 3:30 p.m.
Monday to Friday (except holidays) - (extended hours at peak times)
Office Location: 216 Prince Philip Drive
Coughlan College - MUN (St. John's campus)
Mailing Address: Student Financial Services Division
Department of Education
P.O. Box. 8700 St. John's, NL, A1B 4J6
The internet is a valuable resource and greatly increases the efficient return of any enquiry. Students are encouraged to e-mail the Student Financial Services Division with their question. Staff assigned to this area will make every effort to respond within 24 hours of receipt. The service standard is three business days.
Applying for a Student Loan
Residents of Newfoundland and Labrador who require financial assistance to attend a designated post secondary institution can be eligible to receive full time or part time financial assistance.
Students are encouraged to apply via the Internet. The service standard for review of internet applications is ten business days compared to twenty business days for paper applications.
Income Confirmation Process
Contained in the application package and online is an Income Confirmation Form (ICF). This form verifies the amount of money a student earned during the prestudy period (i.e. up to 17 weeks prior to the first day of classes).
For students coming directly out of high school, the prestudy period is generally the nine weeks between the completion of high school and the start of classes in September. The ICF must be submitted when you pick up your Certificate of Eligibility (Schedule 1).
It may be submitted to the Student Financial Services Division either via fax or mail. The deadline date for submission of this form is no later than eight weeks after the first day of classes. Failure to do so may result in the forfeiture of future loans, grants and/or awards.
Study Period Income
If you work during your study period, you must report your income to the Student Financial Services Division. There is an exemption of $50 gross employment income per week. You must use 100% of the net amount of the remainder for your education.
If you feel that your application was incorrectly assessed or extenuating circumstances were not taken into consideration, you may submit a written letter of appeal, including supporting documentation and your Social Insurance Number, to the Student Financial Services Division. The deadline date for submission of an appeal is eight weeks prior to the end of the semester.
Obtaining your Loan
When you pick up your Certificate of Eligibility (Schedule 1) at the College, you must take this documentation to a Canada Post Outlet for processing.
Have your school confirm your enrolment on the Schedule 1.
You are required to include your banking information on the Schedule 1 or include a void cheque. Otherwise, your funds will be mailed to you by cheque to the address as it appears on the Schedule 1. If the address is incorrect, you must contact the National Student Loan Service Centre at 1-888-815-4514 to update them with your current mailing address.
Once you have completed Section 3 and signed the Schedule 1, you must personally submit it to a designated Canada Post outlet. You will be required to show a photo identification card and your Social Insurance Number card. If Canada Post is not accessible to you, please contact the National Student Loan Service, Public Institutions Division at 1-888-815-4514 for further instructions.
Keeping Loans in Goodstanding
If you received student loans prior to August 1, 2000, take copy 22A of your Schedule 1 to the bank or credit union holding your previous loans. Failure to submit this form within six months will result in your loans going into repayment.
If you are currently not receiving a student loan but have previous loans and are attending a post secondary institution full time, you must submit a Confirmation of Enrolment Form (Schedule 2) to avoid entering repayment. The Schedule 2 must be completed by your educational institution.
Early Childhood Education Grants
The Early Childhood Education Grant Program is intended to reduce student debt (post graduation) or for low wage earners who experience financial difficulty in repaying their loans. Please visit Student Financial Services Division website at www.gov.nl.ca/studentaid for additional information.
Debt Reduction Grants
Newfoundland and Labrador implemented a program whereby up to the full amount of the provincial portion of the student loan may be converted into a non-repayable grant. There is no application process. Students are automatically assessed. To qualify, you must meet the following criteria:
graduate from a post secondary program within the province that is at least 80 weeks in duration;
borrow in excess of $165 per week of study during a semester;
be successful in at least 80% of a full course load each semester;
apply and be deemed eligible for assistance for at least half of the required length of your post secondary program.
Interest Relief assistance, up to a maximum of 30 months, available at any
point during repayment of the loan;
An additional 24 months of assistance available within the first five years of
repayment for those who experience extreme financial hardship.
To apply, you must contact the National Student Loan Service Centre.