Canada Student Loan and Grant for Part-Time Studies
If you are a part-time student in a designated post-secondary program, you may be eligible for financial assistance for costs such as tuition and books through the Canada Student Loan and/or Grant for Part-Time Studies.
Am I eligible to apply?
You may apply if you do not have an outstanding part-time student loan over $10,000 and are:
- Attending a program or course that is 12 weeks or less in length, or
- Enrolled in 20 to 59 percent of a full-time course,
- Your family income is at or below the federal middle income table.
How much money is available?
If your family income falls at or below the low-income thresholds set by the Federal Government, you are eligible to receive up to $3,600 in grant funding per academic year (August 1-July 31).
How do I apply for this part-time student loan?
- Download the Canada Student Grant and/or Loan Application;
- You must complete the first two pages of the application;
- Your educational institution must complete “Section E” on page three; and
- Submit your completed application, including the completed “Section E”, with the following:
- A copy of your current Canada Revenue Agency Notice of Assessment (and your spouse’s, if applicable);
- A copy of your child’s/children’s Provincial Health Card; and
- A transcript of marks for the last course(s) for which you have received part-time funding.
What is the application deadline?
Submit your completed application at least three (3) weeks before your course ends.
How to receive part-time funding
Effective June 10, 2019, students who have been accepted for part-time funding will need to complete an electronic part-time Master Student Financial Assistance Agreement (MSFAA) through an online process. The part-time MSFAA is a legal agreement between you and the Canada Student Financial Assistance Program about accepting your part-time student loans and/or grants and your responsibilities for repayment. Once you have been assessed and approved for part-time funding, PEI Student Financial Services will provide a Notice of Assessment letter that has your 10-digit part-time MSFAA number. It is important for you to keep this number to complete your online registration.
To receive part-time student grant or loan funding, students will need to follow a two-step process to register for an online account and to complete the part-time MSFAA using the link in the “Welcome Email” sent by the National Student Loans Service Centre (NSLSC). This email will be sent two to three days after your part-time application is assessed. You will need to be ready to provide your:
- Bank account information (transit, institution, and account numbers);
- Social Insurance Number (SIN);
- 10-digit MSFAA number provided by PEI Student Financial Services
- Date of birth
Using your 10-digit MSFAA number, confirm your identity and register your account with the NSLSC and complete your part-time MSFAA. This process will take about 20 minutes.
New process for students who have previously received part-time funding:
Effective June 10, 2019, there is a new online process for receiving your part-time funding. Once you have been assessed and approved for part-time funding you will now be required to complete an electronic part-time Master Student Financial Assistance Agreement (MSFAA) on the National Student Loans Service Centre (NSLSC) website. The part-time MSFAA is a legal agreement between you and the Canada Student Financial Assistance Program that outlines your responsibilities and the terms and conditions of accepting your Canada Student Loans and/or Grants and your responsibilities for repayment. PEI Student Financial Services will give you a 10-digit part-time MSFAA number. It is important for you to keep this number to complete your online registration.
Even if you have previously completed a full-time MSFAA, you will still need to complete a part-time MSFAA as it is a separate agreement. If you already have an account, you can sign-in to the NSLSC website and complete the part-time MSFAA. If you don’t have an account, you will need to register for an online account and complete the part-time MSFAA using the URL in the “Welcome Email” sent by the NSLSC.
The new electronic part-time MSFAA process replaces having to sign and mail a paper loan agreement process. Since it is a multi-year agreement, it is more efficient and easier to use. For instance, you will not need to complete a new part-time MSFAA the next time you apply for part-time student funding (unless you take a two-year break in study or establish residency in another province/territory).
For more information on the 2020/2021 Canada Student Loan and Grant for Part-Time Studies, please view the video below:
Who can I contact for information?
Student Financial Services
176 Great George St., P.O. Box 2000
Telephone: (902) 368-4640
Fax: (902) 368-6144