If no transactions were made during the year, no statement will be produced. This is common the first year you receive financial assistance.
The financial assistance to which you are entitled is first paid to you in full in the form of a loan. If you are eligible for a bursary, it will automatically be used to repay part of your loan.
For example, if you are eligible for a total of $8000 in financial assistance, consisting of a $2000 loan and a $6000 bursary, you will receive $8000 in the form of a loan.
After the verification of your income, the $8000 loan will be reduced by $6000, leaving a $2000 loan to repay.
Use tax slips for your income declaration
If a portion of your loan has been changed into a bursary, you will receive a tax slip which you must attach to your income declaration (tax return). This slip will be available in your Student Financial Assistance File .