Promissory Note Checklist

You can complete the Promissory Note to leave a balance on your account that is equal to the Canadian or US government student loan and grant amounts you will receive during the term.

An estimate of government student loan funding is not acceptable. If you do not have an assessment of your student loan funding, you have two options:

• Pay your Term Balance in full by the due date to avoid a late fee.
• Complete your Promissory Note once proof of the funding is available to you; if this is after the term due date, we will add a late fee to your student account.

OSAP

Your OSAP assessment for the term will appear as Anticipated Aid on your student account in Quest as soon as it is available. You do not need to upload proof of your OSAP funding in the Promissory Note process if it is already showing as Anticipated Aid.

Student Awards & Financial Aid will send Confirmation of Enrolment to OSAP once you have the registered status "Fees Arranged" and your account information (course load, program) matches your OSAP application information. Any amount of OSAP that is not required to ocver the charges on your student account will be sent directly to the bank account you indicated on the Master Student Financial Aid Agreement (MFSAA).

Other Canadian or US government student loans

You can use a scanned copy of your provincial or federal student loan assessment as proof of funding, provided the amount and the term being funded are displayed.

From University of Waterloo

Your approved scholarships, bursaries, awards or GRS funding will appear as Anticipated Aid on your student account in Quest. You will be able to complete the Promissory Note without uploading proof of this funding.

If the amount is not showing as Anticipated Aid, you can upload a scanned copy of a letter or e-mail verifying the amount of funding for this term.

Undergraduate students

Scholarship and bursary amounts indicated as Anticipated Aid will be applied to your student account balance during the second month of term, provided your registered status is "Fees Arranged".

Graduate students

Scholarships and awards indicated as Anticipated Aid will be applied to your student account balance during the first week of term, provided your registered status is "Fees Arranged".

From other Canadian or US organizations

Some external scholarships, bursaries and awards will appear as Anticipated Aid on your student account in Quest. If they do, you do not need to upload proof of that funding.

If not, you will need to upload a proof document showing that the funding is:

• for the current term
• payable directly to University of Waterloo, not to you personally
• for you
• from an organization in Canada or the USA

If you have an external scholarship or bursary cheque payable to University of Waterloo, please send it directly to The Centre. Be sure your name and student ID number are on the cheque.

You can use compensation for research or teaching assistantships or sessional appointments to pay your student fees, by completing the Promissory Note.

• If your RA/TA or sessional income is showing as Anticipated Aid on your student account, you do not need to upload proof of that funding when you complete the Promissory Note.  If it is not, you need to contact your department for a funding letter, confirming the amount of RA/TA or sessional funding you are entitled to during the term. Upload this document in Step 4 of the Promissory Note process.
• Your Offer of Admission letter is not acceptable proof of funding because the funding information on the offer letter is not specific enough for the Promissory Note.

• If you are also receiving other forms of acceptable financial aid this term, and that funding will leave a balance on your account less than $100.00, we cannot use your research assistantship or teaching assistantship or sessional income to pay your fees. Instead, you need to pay the remaining balance before completing your Promissory Note.
• Approximately 10% of the value of the RA/TA or sessional funding you are expecting will be allocated for mandatory payroll deductions and will not be available to redirect to pay your fees.
• The balance remaining after allowing for any other financial aid will be divided over the four months of the term and deducted in equal parts from each monthly pay during the term.
• You are responsible to check your student account and payroll remittance advice monthly to ensure the payment plan is working as you intended.

The tuition benefit is available to Waterloo employees and retirees receiving a University of Waterloo pension, and their children. Please review the instructions to complete the application form. The benefit will appear as a tuition discount on your student bill. You do NOT need to complete the Promissory Note if you are ONLY getting the tuition benefit.

If an approved third-party organization has agreed to pay your fees based on an official invoice from uWaterloo, you can let us know by  providing a scanned copy of a financial guarantee letter from your sponsor in Step 4 of the Promissory Note process, that states—

• your name
• the start and end dates of your funding
• name, address, e-mail address and phone number of sponsor
• any fees your sponsor will not pay

You also need to upload proof of payment of any fees we cannot bill to your sponsor.

NOTE: funding from a family friend, a family member or a family member's employer is not considered a Third-Party Sponsorship and therefore is not acceptable on a Promissory Note.

You are eligible for this discount if you are age 65 or older on the first day of term.  The amount will appear as a tuition discount on your student term bill.  You will need to make a payment for any other fees charged to your student account. You do NOT need to complete the Promissory Note.

You will need to upload proof of payment of the remaining balance:

• a scanned copy of a receipt from making a payment at a bank in Canada
• a screen shot of your payment confirmation page from making a payment using online banking from a bank in Canada
• a scanned copy of a certified cheque, money order, cashier's cheque or bank draft from a Canadian or US bank
• a scanned copy of a receipt for a Western Union GlobalPay for Students transfer
• a scanned copy of a receipt for a CIBC International Student Pay transfer

If your payment is post-dated, we will not be able to process your payment or Promissory Note until the payment date.  If that is past the term due date, your Promissory Note or payment will be considered late and we will charge a late fee to your student account.