
At the beginning of the school year, the financial assistance office of your educational institution will issue you a Guarantee Certificate and a Loan Agreement. You must submit these two documents to a financial institution participating in the Loans and Bursaries Program. Shortly afterwards, the first instalment will be deposited electronically into your bank account.
During the school year, if you qualify for a loan and a bursary, your assistance will be deposited in your bank account each month. If you qualify for a loan only, your assistance will be deposited in your bank account at the beginning of each study period.
During the school year, all the financial assistance is issued in the form of a loan, even if you are entitled to a bursary. At the end of the school year, after verifying your income with Revenu Québec, the government will repay your financial institution the amount of the loan that was converted to a bursary. That process is called the loan-to-bursary conversion. Confirmation of that bank transaction will then be sent to you.
If you have a major functional disability, the assistance awarded will always be issued in the form of a bursary. Instead of a Guarantee Certificate, your educational institution will issue you a bursary cheque at the beginning of your first study period. Subsequently, your assistance will be issued in a series of cheques and sent to your address, or it will be deposited directly in your bank account if you have registered for that payment method.
Important: No instalment will be issued for any month in which the amount of assistance is under $25. Instead, the amount is added to the instalment for the preceding month or the following month, if applicable.