Career and Financial Counselling

What is the role of a Career and Financial Counsellor at StudentAidNL?

The Career and Financial Counsellor promotes sound career decision making that will assist students in graduating post-secondary in a timely manner with manageable student loan debt. Through the career counselling process, counsellors are able to work with students to assist in a number of areas, including the review of educational plans, labour market research and career options.

Why did StudentAidNL refer my file to a Career and Financial Counsellor?

StudentAidNL may refer a student to a career counsellor for a number of reasons including:

  • Switching programs or completing a subsequent program
    In the event you switch programs after reaching the midpoint of your initial program or you request student financial assistance beyond your initial program, your eligibility may be affected. You must provide a rationale demonstrating academic progression, good labour market prospects, and information that supports a manageable level of debt to support your decision before StudentAidNL can approve additional assistance. Students are encouraged to include any relevant information supporting their decision, such as current job ads, union reports, and employee/employer comments.
  • Completing programs of study in a timely manner
    You are eligible to receive assistance for the normal length of your program, as defined by the educational institution, plus a grace period of up to a maximumof one academic year. Example: A Bachelor of Arts program is normally eight semesters (four academic years) in duration. Financial assistance is available for those eight semesters (four academic years) plus an additional two-semester (one academic year) grace period, totaling ten semesters (five academic years) of funding.
  • High-unmet financial need of over $3000 per semester
    If you have substantial financial need above your loan eligibility, a Career and Financial Counsellor may contact you to discuss financial planning. The purpose is to ensure you are aware that you will require additional financial resources to finance your post-secondary education.

Upon review of your application, there may be other reasons why a Career Counsellor may contact a student.


Who refers students to a Career and Financial Counsellor?

 Internal StudentAidNL staff may refer your application to a Career and Financial Counsellor. Referrals may also occur externally by post-secondary school representatives, high school guidance counsellors, professionals from the community and self-referrals.


What can you expect to discuss with a Career and Financial Counsellor?

During the initial session, the Career and Financial Counsellor will review your career plan including discussions on your previous and/or current academic activities. This will aid in establishing suitability to a new program choice. As well, the Career and Financial Counsellor will review your labour market awareness. If it is determined that you lack knowledge in this area you may be required to complete a Labour Market Research Questionnaire. This questionnaire guides you in researching a variety of resources to ensure you have a full understanding of the employment and salary potential for the applicable occupation.

Additionally, the Career and Financial Counsellor will review your debt awareness including your current student loan debt, projected debt, and impact of your accumulated debt on your total service debt ratio based on your expected salary upon completion of the program. The total service debt ratio is a calculation that provides insight into your ability to repay your student loan debt.

If you are required to gather subsequent information, the Career and Financial Counsellor will arrange additional sessions to ensure you have provided all required information to determine eligibility for future funding.


How can I contact a Career and Financial Counsellor?

Contact StudentAidNL to discuss if your circumstances warrant a referral to a Career and Financial Counsellor by emailing studentaidenquiry@gov.nl.ca or calling 1-888-657-0800.

Below are some helpful career support links: