On our list of Current Income sources, you can select Student Loans. If you select this as your income source, keep in mind that your proof of income must be dated within the past 30 days to be verified.
Student funding documents from institutions such as OSAP or other provincially funded loan programs and loan deposits tend to be dated during specific times of the year, usually September and January.
Here are the types of documents you can provide:
a) Student Loan Statement
If you upload a Student Loan Statement, is MUST show:
- Your full legal name as stated on the Application
- Amount you receive from your funding provider and how frequently you receive that amount (Monthly, Bi-weekly, Annually, etc.)
- Supporting institutions name and contact information (ie. phone number, email, or formal letter head )
- Be dated within the past 30 days. Most of the time, these statements will be out of date.
b) Bank Statement
If you upload a Bank Statement, it MUST show:
- Your full legal name as stated on the Application
- Recent deposits from the institution funding you
- Be dated within the past 30 days
c) Student Line of Credit
If you upload a student line of credit, it MUST:
- Show your full legal name as stated on the Application
- Show the supporting institutions' name and contact information (ie. phone number, email, or formal letterhead)
- Show the available credit / balance left on line of credit within the past 30 days
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If you cannot provide documents that prove Student Loan income within 30 days of submitting your Naborly Rental Application, you should choose an alternative income source from the options below:
Savings/Investment Statement
If you do not have student funding documents that meet this date requirement, as an alternative, you can select Savings / Investment, as your Current Income source. If you declare this, please ensure that you declare the current balance in your bank account.
Family Support Documents
Another source of income popular among students is Family Support. If you have a family member supporting you during your studies, you can select Family Support as your income source.
If you still want to let the Landlord know that you have received student loans this year, you can include Student Loans as a Previous Income Source. Please discuss the details of your situation with the Landlord/Property Manager.
See also:
