BC students

For more information about BC government student assistance, visit StudentAid BC (SABC)

enrollment requirements | how to apply | how to keep your student loans interest-free

Full-time

All Canadian citizens or permanent residents (landed immigrants) who meet the federal and provincial criteria for British Columbia residency status are eligible to apply for financial assistance through the StudentAid BC (SABC) program.

SABC funding is based on financial need. When you apply for government funded student assistance you complete information about your financial resources and expenses. Educational costs are provided by Simon Fraser University based on the program of study you choose, and what year you are in. Through a standardized assessment process based on Moderate Standard of Living tables you will receive notification of how much SABC funding you are eligible to receive.

Currently, full-time students without dependents are eligible for a maximum of $5,440 in SABC funding each term. The maximum for students with dependent children is $8,670 per term. You apply for SABC funding on a term by term basis.

Enrollment requirements

All SABC applicants must meet the following enrollment requirements in order to qualify for student loans. You must:

Be pursuing a full-time program of study leading to a recognized certificate, diploma, or degree
Be enrolled in at least 60 percent of a full-time course load. At SFU, this means a minimum of 9 units per term (usually 3 courses) in order to be considered a full-time student.
- Students with a recognized permanent disability (who have been approved by the appeal process through SABC) must be enrolled in at least 40 percent of a full-time course load (minimum of 6 units, usually two courses) per term.
Please note: challenge, upgrading, audit and credit-free courses do not count towards fulfilling the full-time studies requirement.

How to apply

Applications are completed online through the StudentAid BC (SABC) website.

Due to the high volume of applications received each term, we strongly recommend that you complete this step at least six weeks prior to the start of the term in which you are applying for your student loan to allow enough time for your application to process prior to the first day of classes.

A Notification of Assessment informing you of the results of your application will be mailed to you from StudentAid BC (SABC). You can also check the status of your SABC application using your application number, Social Insurance Number and date of birth online by clicking on the“check application status” link in the left-hand column.

You do not have to wait until you are enrolled as a full-time student before you apply for your student loan. Since you apply term by term, you can apply for all three separate terms before classes start. Your student loan will not be released until SFU confirms that you are enrolled as a full-time student (normally 9 units).

SFU confirms student loans two weeks before classes start. At this time, students receive one BC Master Loan Agreement good for the lifetime of your student loan and new Canada Student loan documents every term.

Once you receive your loan document(s), simply follow the instructions to negotiate (i.e., cash) your loan.

Student loan money will not be deposited prior to the first day of classes. For example, if classes start on September 2 and all of your paperwork has been completed, the earliest you can expect to receive your student loan funding is September 2.

How to keep your loans in Interest-Free status

If you are still studying full-time but are no longer receiving funding through StudentAid BC, you need to apply for interest-free status to delay paying back your student loan.

Use the online interest-free application. The online form replaces both the B.C. student loan Certificate 2 form and the Canada student loan Schedule 2 form. SFU will electronically confirm your enrollment provided you are enrolled as a full-time student. Ttis information will then be sent to your student loan providers. You need to do this every term you are a full-time student (normally 9 units) and are not receiving further student loan funding. This process does not happen automatically. The loan providers will assume you are no longer in school unless you advise them differently.

If you are unable to complete the online application, please visit the Registrar and Information Services counter in Room 3100, Maggie Benston Student Services building at the Burnaby campus.

Split enrollment

If you are planning to be enrolled at both SFU and another post-secondary institution, you may be eligible to apply for SABC funding and/or retain your full-time, interest free status if you meet both of the following criteria:

The post-secondary institution you are attending is a designated school as defined under SABC regulations.
Your total units at both institutions are equivalent to 60% of a full-time course load at SFU (i.e. you're enrolled in a minimum of 9 units in total).

Please note: during your split enrollment you can only submit your loan documents and/or interest free forms to your "home" institution for verification. The "home" school is defined as the school from which you will receive your credential. For example, even if you are taking nine units at "X" College and three units at SFU, your home institution is SFU if you will be receiving your credential from SFU. Therefore, you will have to bring your documents to SFU and not to "X" College for verification.

As an SFU student you will need to complete the following steps to qualify for split enrollment:

You must obtain a Letter of Permission to take a course (or courses) at another institution for SFU credit. Please note that the non-SFU course(s) must be transferable to SFU and must count towards your credential.
Go to the Financial Aid and Awards office of the non-SFU institution you are attending and request that they send SFU Financial Aid and Awards proof of enrollment that details the course(s) you are taking. Please ensure that your proof of enrollment includes the following information: your name, birth date, course(s) taken, the start and end dates of the courses, tuition fees, and costs for books & supplies.

Once you have completed the course, make sure you submit an official transcript toSFU showing the final grade(s) achieved. Otherwise you could be reported as having Unsuccessful Completion or Withdrawal from Full-Time status, which may have an impact on your future studies.

Overawards

If you receive more money than you are eligible for, you may be in an overaward situation. You would go into an overaward situation if any of the following occur:

You withdraw from full-time studies, or drop below 60% (i.e., 9 units) of a full-time course load; or
For students with a permanent disability (who have been approved by the Ministry of Advanced Education, Student Services Branch), you withdraw from full-time studies or drop below 40% (i.e., 6 units) of a full time course load; or
An audit conducted by the Student Services Branch determines that you have been given more funding than you are eligible for; or
You submit a reassessment to report an increase in your income.

If it is determined that you have received an overaward, you will be notified in writing by the Ministry of Advanced Education, Student Services Branch. If you have further questions, please contact Financial Aid and Awards.

BC Loan reduction program

The B.C. Loan Reduction Program is designed to provide financial relief to students who are incurring a high debt load by forgiving loan amounts that exceed a pre-set threshold. For example, if the threshold is set at $7,650 and you received SABC funding for $9,350, you are still responsible for paying back $7,650 of your loan; however, the remaining $1700 is forgiven so you are no longer responsible for repaying that amount.

All SABC student loan recipients are automatically considered, so a separate application isn't necessary. However, in order to qualify, you must fulfill all of the following criteria:

Be enrolled in an undergraduate academic program that is at least two years in length. Most professional programs do not qualify for this program. Medical, dental, law, and graduate students are also not eligible for loan reduction.
Complete at least 34 weeks (two terms of study at SFU) of SABC funded studies. It's important to note that the 34 week period must occur during a SABC program year (August 1 of one year and August 31 of the following year).
Be in the first four years of SABC borrowing. For students with dependents, you are eligible for loan reduction up to the first five years of SABC borrowing.
Complete at least 60% of a full-time academic course load during the minimum 34 week period. For SFU students this means you must be registered for at least 9 units per term, in two out of the three terms within a SABC program year. Note: For students with a permanent disability, who have been approved by the Ministry of Advanced Education, Student Services Branch, the minimum course load requirement is reduced to 40%.

The maximum loan reduction amount that each student can receive is determined by the maximum weekly funding amounts and the loan threshold established every August. Hence, you may find yourself eligible for a loan reduction one year and not the next. For further information regarding the SABC loan reduction threshold please consult the SABC website.

It's also important to remember that you must retain your full-time student status during the terms in which you qualify for a loan reduction. However, if you are forced to drop below a full-time course load due to extenuating circumstances, an appeal process is available. For further information, please contact Financial Aid and Awards.

Qualifying/Unclassified students

If you are a student enrolled in unclassified studies or are entering the qualifying year for entrance into an SFU program, you may be eligible to receive BCSAP funding if you request that SFU fill out an Appendix 3: Program Information Form on your behalf.

Appendix 3: Program Information Form

When applying for your StudentAid BC funding, you may be required to request that SFU complete an Appendix 3: Program Information form on your behalf.

The Appendix 3 is a School and Program Information form which details your educational costs and study start/end dates. It is used by StudentAid BC to determine educational costs related to your eligibility to receive student loans.

It's important to remember that you cannot complete an Appendix 3 on your own: you must request that SFU complete this form on your behalf. The Appendix 3 is normally completed within one week; however it may take longer to complete if we are waiting for information before we can process your Appendix 3 request.

The following SFU programs are examples of programs for which you will be required to request an Appendix 3:

Exchanges through SFU-International
Field School programs
Business Administration (Global Asset & Wealth Management)
Business Administration (Management of Technology)
Graduate Program in Global Health
Foundation of Management of Technology
Master of Publishing
Masters of Public Health Program
Master of Public Policy
Graduate Diploma in Urban Studies

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