Canada Student Loans - After you've applied
4. After you have applied
Wait for your money to arrive
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.
For students with a MSFAA, contact your school directly if you want to make other payment arrangements. It's always faster and easier if you sign up for direct deposit as there will be a delay if you do not provide your bank information.
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 term and the other during your second term. For more information on disbursement dates, check with your school's student financial assistance office.
Changes to your financial situation and eligibility
If your financial situation changes before you start school or while you are studying there, you must inform your provincial or territorial student assistance office.
If your eligibility for student loans is reassessed and this changes the amount of money you are to receive, your provincial or territorial student assistance office will let you know.
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