BCSL – British Columbia Student Loan Service Bureau

BCSL

If your a student living in British Columbia Canada the BCSL service bureau will be one of your first stops for BC student aid. Your college years can be one of the most exciting times in your life – and one of the most expensive. Getting an education takes money, and because of this, you need to know a great deal about the BCSL service bureau, or British Columbia Student Loan Service Bureau.

The BCSL service bureau started administering loans on August 1, 2000, in partnership with the Province of British Columbia. It is this department’s responsibility to monitor loans, to distribute the loans, to collect repayments, to remit repayments to the Province, and more. Student loans that were obtained before August 1, 2000 are still maintained through the original lender, and not through BCSL.

British Columbia Student Loans are administered through Student Aid BC, which is a division of the Ministry of Advanced Education and Labour Market Development Department. This falls under the heading of BCSL. You do not apply for your student loans through BCSL, but through Student Aid BC. BCSL service bureau, however, maintains all of the policies related to student loans, and this is the division that administers your BC student loans after you have received them.

Through the BCSL bureau, and particularly through the website, you can get a summary of your loan account, examine payment options, update your personal information, and apply for the British Columbia Interest Relief Program if that becomes necessary. You must register to use the site, but registration is free. You can also access all forms that you may need in order to maintain your BC student loans after you have received them through the BCSL website – and all of this is available twenty four hours a day, seven days a week.

The BCSL forms that are available include the Certificate 2 Form, the Pre Authorized Debit Plan Application, the Application for Interest Relief, the Application for Loan Forgiveness, and the Release of Information Form. Through the website, you will also find a list of definitions, to make it easier for you to understand the terms related to your BC student loans.

Again, it is vital that you understand that this is not where you obtain student loans for BC students. That is done through Student Aid BC, and it is only after you obtain the loan that you start doing business with BCSL Service Bureau. This is also not where you manage your Canadian Student Loans. That is done through the National Student Loans Service Centre. This service also does not administer grants, bursaries, or scholarships – just BC student loans, and essentially the repayment of those loans. Student Aid BC exists to serve you in obtaining the BC student loans, and the National Student Loans Service Centre handles Canadian student loans. You will most likely have to deal with all three organizations at some point.

The BCSL is also the division that you will turn to should you need to negotiate your BC student loan agreement, if you need to apply for interest free status, if you need to consolidate your BC student loans, or if your BC student loan should fall into default. The BCSL service bureau offers a variety of programs, including British Columbia Interest Relief, Principle Deferment, Extended Amortization, British Columbia Loan Remission Program, British Columbia Loan Forgiveness Program, and the Pacific Lenders BC Loan Forgiveness Program. Should you file for BC student bankruptcy, this is also the division that you would go through in order to have your BC student loan status reinstated.

When you get a British Columbia student loan, you will definitely need to take the time to scour the BCSL website to find out about various programs that are there to assist you in repaying those loans after you have completed your education. To learn more about BC student aid, and what they can do for you and your education, visit: BCSL.