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					                                  The Art Institute of Vancouver
                                  2665 Renfrew Street
                                  Vancouver, BC. V5M 0A7
                                  Telephone: 604-683-9200 Fax: 604-684-8839 Toll Free: 1-866-717-8080
	
  

                                                                                         StudentAid	
  BC	
  	
  
	
  
                                                                                Things	
  you	
  need	
  to	
  know	
  
	
  
       	
  
       •      Your	
  eligibility	
  will	
  be	
  affected	
  if	
  you	
  fail	
  to	
  successfully	
  complete	
  at	
  least	
  60%	
  of	
  full	
  course	
  load	
  (9	
  credits)	
  each	
  quarter.	
  	
  
       	
  
       •      You	
  will	
  be	
  considered	
  withdrawn	
  from	
  student	
  loans	
  if	
  you:	
  
	
  
              1)     drop	
  below	
  60%	
  of	
  a	
  full	
  course	
  load;	
  	
  
              2)     miss	
  sufficient	
  hours/days	
  that	
  the	
  school	
  determines	
  that	
  you	
  cannot	
  successfully	
  complete	
  the	
  program	
  
	
            	
             	
  
              •      Any	
  loan	
  document	
  not	
  signed	
  prior	
  to	
  the	
  end	
  date	
  of	
  the	
  loan	
  period	
  will	
  become	
  void	
  and	
  returned	
  to	
  the	
  Student	
  Services	
  
                     Branch.	
  
	
  
              •      You	
  will	
  not	
  qualify	
  for	
  any	
  further	
  funding	
  for	
  the	
  remainder	
  of	
  the	
  loan	
  period.	
  An	
  over	
  award	
  will	
  likely	
  result	
  for	
  not	
  having	
  
                     completed	
  	
  the	
  study	
  period,	
  and	
  hence	
  will	
  affect	
  any	
  loan	
  applications	
  in	
  the	
  future	
  
       	
  
              •      Your	
  loans	
  will	
  enter	
  repayment	
  6	
  months	
  after	
  you	
  stop	
  attending	
  classes	
  full-­‐time	
  or	
  you	
  cease	
  to	
  receive	
  student	
  loan	
  
                     funding,	
  unless	
  you	
  provide	
  the	
  loan	
  authorities	
  with	
  proper	
  documentation	
  (Schedule	
  2	
  and/or	
  Certificate	
  2)	
  that	
  you	
  are	
  
                     studying	
  full-­‐time.	
  	
  
	
  
       •      Not	
  keeping	
  your	
  loans	
  in	
  good	
  standing	
  may	
  have	
  following	
  consequences:	
  
	
  
              •      Additional	
  interest	
  charges	
  
              •      Loss	
  of	
  future	
  student	
  loan/grant	
  assistance	
  
              •      Dealing	
  with	
  a	
  collection	
  agency	
  
              •      A	
  bad	
  credit	
  rating	
  
              •      Loss	
  of	
  future	
  income	
  tax	
  refunds,	
  GST	
  rebates	
  or	
  liens	
  on	
  property	
  
              •      Legal	
  action	
  
              •      Denial	
  of	
  credit	
  for	
  personal	
  or	
  business	
  loans	
  or	
  for	
  the	
  purchase	
  of	
  a	
  home	
  or	
  vehicle	
  
	
  
                                        Each	
  province	
  has	
  different	
  policies;	
  contact	
  your	
  government	
  agency	
  for	
  specific	
  details.	
  
                                                                                                       	
  
                                                                               Student’s	
  Responsibilities	
  
	
  
                                                          You	
  are	
  required	
  to	
  notify	
  Student	
  Financial	
  Services	
  if:	
  
       	
  
       •      you	
  withdraw	
  or	
  change	
  the	
  number	
  of	
  courses	
  you	
  are	
  attending.	
  
	
            	
          	
  
       •      you	
  change	
  programs,	
  at	
  any	
  time,	
  while	
  you	
  are	
  studying.	
  
	
  
       •      your	
  name,	
  mailing	
  address	
  or	
  telephone	
  number	
  change.	
  
	
  
       •      any	
  of	
  your	
  personal	
  or	
  financial	
  circumstances	
  change.	
  
	
  
                                   Any	
  change	
  that	
  is	
  not	
  reported	
  could	
  jeopardize	
  your	
  current	
  and	
  future	
  eligibility	
  for	
  funding.	
  

                                                                                                                  	
  
                                                                                                                  	
  
October 12, 2011
                                  The Art Institute of Vancouver
                                  2665 Renfrew Street
                                  Vancouver, BC. V5M 0A7
                                  Telephone: 604-683-9200 Fax: 604-684-8839 Toll Free: 1-866-717-8080
                                                                                     	
  
                                                  Student’s	
  Checklist:	
  for	
  PREVIOUS	
  Student	
  Loans	
  
	
  
It	
  is	
  important	
  to	
  keep	
  yourself	
  informed	
  to	
  the	
  status	
  of	
  any	
  previous	
  student	
  loans	
  you	
  have	
  received.	
  
	
             	
         	
           	
     	
         	
  
       •      Is	
  your	
  previous	
  student	
  loan(s)	
  in	
  a	
  non-­‐repayment	
  /	
  interest	
  free	
  status?	
  
       	
  
       •      Have	
  you	
  checked	
  the	
  “study	
  end	
  date”	
  your	
  lender	
  has	
  on	
  file	
  to	
  ensure	
  it	
  reflects	
  your	
  current	
  enrollment	
  dates?	
  
	
  
       •      Have	
  you	
  submitted	
  a	
  “Confirmation	
  of	
  Enrollment”	
  to	
  your	
  lender	
  and	
  paid	
  outstanding	
  interest;	
  if	
  necessary?	
  
	
  
        • Does	
  your	
  lender	
  have	
  your	
  current	
  mailing	
  address	
  and	
  phone	
  number?	
  
	
  
                                                                                            st
If	
  you	
  submitted	
  any	
  student	
  loan	
  documents	
  prior	
  to	
  August	
  1 ,	
  2000	
  your	
  loans	
  are	
  likely	
  being	
  held	
  by	
  a	
  financial	
  institution.	
  For	
  most	
  loans	
  
submitted	
  after	
  this	
  date	
  the	
  Canada	
  Student	
  Loans	
  are	
  being	
  held	
  by	
  the	
  National	
  Student	
  Loan	
  Service	
  Centre;	
  the	
  provincial	
  loans	
  with	
  the	
  
respective	
  agent	
  for	
  that	
  government.	
  It	
  will	
  also	
  depend	
  whether	
  you	
  attended	
  a	
  public	
  or	
  private	
  educational	
  institution.	
  
	
  
                                    Any	
  issues	
  that	
  arise	
  from	
  previous	
  disbursements	
  will	
  delay	
  processing	
  of	
  your	
  new	
  funds.	
  
	
  
	
  
                                                     Student’s	
  Checklist:	
  for	
  NEW	
  Student	
  Loans	
  
	
  
There	
  are	
  important	
  steps	
  to	
  follow	
  to	
  ensure	
  that	
  funding	
  is	
  processed.	
  
	
  
       •      Have	
  you	
  submitted	
  your	
  “Master	
  Student	
  Financial	
  Assistance	
  Agreement/	
  Certificate	
  of	
  Eligibility	
  and	
  Provincial	
  Loan	
  Agreement”	
  
              to	
  the	
  designated	
  Post	
  Office?	
  
        	
  
	
  
Failure	
  to	
  submit	
  your	
  Master	
  Student	
  Financial	
  Assistance	
  Agreement/	
  Certificate	
  of	
  Eligibility	
  and	
  Provincial	
  Loan	
  Agreement	
  may	
  result	
  
in	
  loss	
  of	
  funding.	
  
	
  
	
  
I,	
  ______________________________,	
  acknowledge	
  that	
  I	
  have	
  been	
  advised	
  of	
  the	
  information	
  contained	
  in	
  this	
  document.	
  I	
  am	
  aware	
  
that	
  it	
  is	
  my	
  responsibility	
  to	
  contact	
  Student	
  Financial	
  Services	
  or	
  my	
  lending	
  office	
  for	
  policies	
  and	
  procedures	
  regarding	
  my	
  funding.	
  
	
  
__________________________________________	
                                           	
             _____________________	
  
Student	
  Signature	
   	
                	
             	
             	
            	
             Date	
  
	
  
__________________________________________	
                                           	
             _____________________	
  
Student	
  Financial	
  Services	
  Representative	
  Signature	
                      	
             Date	
  




October 12, 2011

				
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