Payments on your student loans are not required during this period, or for a six-month period after you leave school

Payments on your student loans are not required during this period, or for a six-month period after you leave school

Student Financial Assistance BranchMinistry of Training, Colleges & UniversitiesPO Box 4500189 Red River Road, 4th FloorThunder Bay, ON P7B 6G9Phone: (807) 343-7260Toll-free: 1-877-672-7411Fax: (807) 343-7278Website

Student Financial ServicesPost-Secondary Education, Training and LabourPO Box 6000, 440 King St, Suite 420Fredericton, NB E3B 5H1Phone: (506) 453-2577Toll-free: 1-800-667-5626Fax: (506) 444-4333Website

Student Financial ServicesDepartment of Education and Lifelong LearningPO Box 2000, 176 Great George St, Suite 212Charlottetown, PE C1A 7N8Phone: (902) 368-4640Fax: (902) 368-6144Website

The Repayment Assistance Plan (RAP) is available to assist the borrowers who are experiencing difficulties paying back their student loans

first citizens personal loans

Student Financial AssistanceDepartment of Education, Govt of YukonBox 2703Whitehorse, YT Y1A 2C6Phone: (867) 667-5929Toll-free: 1., ext 5929 (Yukon only)Fax: Website

Student Financial Assistance ProgramGovt of the Northwest TerritoriesEducation, Culture & EmploymentPO Box 1320, 4501 50th AveYellowknife, NT X1A 2L9Phone: (867) 767-9355Toll-free: 1-800-661-0793Fax: (867) 873-0336Toll Free Fax: 1-800-661-0893Website

About repayment of your loan.

You are reminded that your student loans are due six months after you cease full?time studies (defined as 60% of a full course load). However, it is your responsibility to contact the National Student Loan Service Centre to arrange terms of repayment before the expiry of this six-month period.

Student loans are interest-free while attending full-time, post-secondary studies. Interest begins accruing on your student loans as soon as your study period is complete and will be added to your loan principle once repayment begins.

If you have previous student loans, are currently enrolled full-time but do not have student loans, you must tell the National Student Loan Service Centre that you are back in full-time studies. Failure to do so could result in your loans going into repayment during your full-time studies. If you have previous BC student loans, you can request confirmation of your enrolment electronically at . Click on Apply for Interest-Free Status On-line’.

If you are an out of province students, please apply for interest-free online at the National Student Loan Service Centre at: or contact your home province for further assistance.

Interest rates are calculated at the time of consolidation. Effective , the interest rate for B.C. student loans will be eliminated. This change applies to B.C. Direct Lend integrated and unintegrated student loans, overawards, and B.C. Risk-Sharing/Guaranteed loans in default.The federal interest rate applied to the federal component of BC borrowers integrated loans will remain unchanged at prime plus 2.5%.

Please register online at the National Student Loan Service Centre at: or contact your home province for further information on the interest on your loan.

Student loan borrowers must apply for the Repayment Assistance Plan. Enrolment is not automatic. Please visit CanLearn’s Repayment Assistance Plan website, for further information on the process.

Students can repay their Canada Student Loans by redeeming loyalty program points from Aeroplan, TD Rewards and the CIBC Aventura programs. Businesses, friends or family can also convert their loyalty points to repay a student or grad’s loans.

  • Keep a current address and telephone number on file with the National Student Loan Service Centre;
  • Contact the National Student Loan Service Centre before the expiry of the six-month grace period to discuss repayment terms;
  • Make regular payments as specified in the loan repayment agreement;
  • Reinstate each previous student loan to interest-free/payment-free status at the start of each new academic session

Failure to repay your loans in a timely manner will result in you defaulting on your student loans. It is your responsibility to ensure your loans are in good standing to avoid defaulting. If you default on your loans, your lenders, the Government of Canada, and the Province of British Columbia will take steps to recover the debt, which may include reporting you to a credit agency, using a private collection company, or taking legal action. Additionally, future income tax refunds may be withheld and applied to your defaulted loan debt. Your Canada student loans or provincial student loans cannot be absolved through bankruptcy for a period of 10 years after the end of your studies.

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