Financial Aid FAQ

Learn answers to the most common questions students have:

Awards

How do I apply for bursaries?

Bursaries open every Sept 15 and close Oct 31.

How do I apply for scholarships?

Application scholarships open every Feb 15 and close Mar 31. 

How do I apply for Entrance scholarships?

Entrance scholarships open every Feb 15 and close Mar 31. 

How do I apply for Early Entrance scholarships?

Students don't apply for Early Entrance scholarships. To be eligible, new students (who have never been Selkirk students in the past) apply for their program between September and December the year before your program start date. 

What is the difference between bursaries and scholarships?

Bursaries are based on financial need and students must provide financial information when making an application. Scholarships are based on grades.

Where do I find Selkirk's awards?

On the Financial Aid website check Student Awards & Financial Support. 

Government Assistance

I have just come to BC from another province (or country). Can I apply for student aid through BC?

You are considered to be a BC resident when you have resided in BC for 12 continuous months (not including full-time post secondary study). International students are not eligible, unless you have dual citizenship and meet the residency requirements as set by StudentAid BC. You can apply for a student loan through the province in which you are a resident. 

Where do I get an application for a student loan?

Go to StudentAidBC.ca and register to gain access to the online application. 

How to I apply for part-time student aid funding?

Part-time application forms can be found online through the Form Library at StudentAidBC.ca. It is a fillable form which is designed to be completed online and then printed, signed, and dated. Completed forms should be emailed to FinancialAid@selkirk.ca for processing. 

What is the deadline for applying for government loans and grants?

You should always apply early, at least 6 to 8 weeks before your tuition is due or your class begins. However, you can apply at any time up to 6 weeks before the end of your study period.

What is a MSFAA?

The Master Student Financial Agreement (MSFAA) is a legal agreement between you, the Province in which you are considered a resident, and the Canada Student Loans program about borrowing and repaying your student loans.

Is there funding for the Upgrading or English as a Second Language Program?

Yes, complete the fillable pdf Adult Upgrading Grant Application. Completed forms should be emailed to upgrading@selkirk.ca for processing. Proof of income such as a copy of your CRA Notice of Assessment or T4 slips, pay stubs, ROE's or other proof of income if you have not filed your income tax. These documents must be attached to your application. 

I defaulted on a previous student loan. Am I eligible to apply for a new student loan?

It is possible, but only after you receive a letter of clearance from the Canada Student Loan Program (National Student Loans Service Centre) and/or the province where you arranged your student loan. Contact the National Student Loans Service Centre at 1-888-815-4514. This process often takes up to one year.

How many credits do I need to qualify for student loan funding?

You must be in a minimum of 60% course load. The number of credits to meet the 60% course load varies program to program. Check with your Counsellor or FinancialAid@selkirk.ca to confirm the number of credits required for your program.

How do I know if I have full-time status for student loans?

You must be in a minimum of 60% course load. The number of credits to meet the 60% course load varies program to program. Check with your Counsellor or FinancialAid@selkirk.ca to confirm the number of credits required for your program.

What happens with my student loan if I drop below the full-time enrolment requirement (60% course load)?

The college automatically notifies StudentAid BC when a student falls below the 60% course load. Your student award is pro-rated and StudentAidBC will send you a letter outlining the ramifications of your withdrawal. If the withdrawal pattern is repeated, you may be advised that no further Student Loan funding will be forthcoming.

Will repeating a course impact my funding?

Yes, it could. Repeated courses that you have previously received credits for will not be part of the minimum 60% or 40% (students with a permanent disabilities) course load. You can submit an appeal to StudentAid BC requesting that the repeat course be considered for funding. However, this process can take between 4 to 6 weeks and there is no guarantee of approval. Contact FinancialAid@selkirk.ca for further information.

If I am on a student loan, can I take courses that are not part of my program?

Student loans will only cover courses required for your program. If you are taking courses outside of your program and your course load drops under 60% as a result, you will not be eligible for your student loan. Contact FinancialAid@selkirk.ca for any questions.

When will I receive my student loan/grant?

If your student loan has been approved prior to your program start date, Financial Aid will confirm your attendance before your program starts. In most cases, Selkirk will pull your tuition fees from your loan, and the balance of loan proceeds will be deposited into your bank accounts within 5 business days after your start date. If you applied for your student loan late, Financial Aid will confirm your attendance when the information is forwarded from StudentAid BC to Financial Aid.

What is the difference between a student loan and a grant?

Student loans need to be paid back, however grants do not need to be paid back. Grants will always be identified on your student loan Notice of Assessment.

Do I have to make payments on my student loans while I am in school?

No. Payments are not required until 6 months after you cease being a student.

What is Interest-Free Status and how do I apply for it?

While you are attending as full-time student you can be "interest-free status," which means no interest is being accumulated on your student loans and no payments are required uring your study period. You must complete an interest-free application each term you wish to be considered for interest-free status and you are not receiving new student loan funding. For example: If you are taking a co-op semester, that is part of your program, you can apply for interest-free status.

What should I do if I’m denied government student assistance or my award is small?

If your student loan/grant assessment comes back to you denied or with a smaller funding amount than expected, you may be eligible to request a re-assessment or appeal of your application. Book an appointment with FinancialAid to go over your options and advise you of the correct processes.

Other Funding Sources

What if I don't qualify for a Canada/BC student loan - are there other options available?

Yes, most of Canada's chartered banks offer lines of credit and special banking packages to Canadian students. A co-signer is often required, unless you are a mature student with assets.