Student Resources – Assets 

Students’ assets (including assets owned by spouses or partners) must be declared in the Financial Aid Application. These assets will be deemed at 100% of current or anticipated value in September of the year of the initial Financial Aid application. If the value of the assets changes by more than $1,000, students are required to notify the Financial Aid office. 

Assets include, but are not limited to  

  • chequing and savings accounts, TFSA, FHSA;  

  • investments such as GICs, bonds, mutual funds; 

  • RESPs;
  • RRSPs;  

  • Vehicles, owned not leased  

  • Equity in a home/real estate investment  

Students will be deemed to expand their (or their spouse’s) RRSPs up to $10,000/year for up to 2 years as per the Lifelong Learning Plan. 

Liabilities associated with declared assets should also be reported (i.e. a vehicle loan, or home mortgage).

For the purposes of student resource calculations, students with existing educational loans may offset their assets (checking, savings, TFSA, investments) by the amount of their student loans. Only Canadian government student loans up to a maximum of $30,000*will be considered for the purposes of asset offset. Assets such as RRSP will only be considered up to $10,000/year.  Documentation from NSLSC (or province if not participating in NSLSC) must be provided to show the dates and amounts of government loans issued