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Protect yourself from potential scams or fraudulent activities. Note that we will never ask for payments via credit cards, gift cards, or cryptocurrency, initiate contact with you offering to pay off/forgive your loan or threaten you with arrests. If you suspect a potential student loan scam, report it here.
- Repay a Student Loan
Repaying after leaving school. After finishing school, there...
- Update Payment Options
If you have a full-time student loan, you can customize your...
- Payment Method Options
Pre-Authorized Debit. This is the easiest way to ensure your...
- Repay a Student Loan
- Please read our latest notices
- Repaying after leaving school
- Provincial or territorial payments
- Delay repayment
•To access 2023 T4A tax slips for Canada Student Grants and receipts for interest paid on student loans, log in to your secure National Student Loans Service Centre account
•Natural disasters: Important information about repaying your loan
•Budget 2023: Important announcements for student aid
•How to start
•Payment options
•Make additional payments
After finishing school, there is a 6-month non-repayment period. When this period is over, you have to start making payments on your Loan. For information on repayment, review the terms and conditions of your loan or contact the NSLSC.
The 6-month non-repayment period starts after you:
•finish your final school term
•reduce from full-time to part-time studies
•leave school or take time off school
Within 6-months of finishing school, you will receive a package detailing your payment terms and payment options.
British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Ontario, Saskatchewan, and the Yukon
Repay your student loan through the National Student Loan Service Centre (NSLSC).
Alberta, Nova Scotia and Prince Edward Island
Provincial and federal loans are repaid separately. Repay your federal loan through the NSLSC. Make payments on the provincial loan through your province.
Quebec, Nunavut or the Northwest Territories
Make loan payments directly to your province or territory. Contact your province or territory to arrange payments or for information on your loan.
You may be able to delay repayment if you are:
•a full time student
•a reservist in school or on a Canadian Forces designated operation, or
•in school, and need to take leave from your studies for medical or parental reasons
Sep 12, 2019 · “Rather than completely paying off my student loans and starting over at zero, I paid off some of the debt and used the remainder for a down payment on a new house,” Engen recalled in a blog post.
If you have a full-time student loan, you can customize your payments online in your NSLSC account. You can: increase your payments to reduce the time it takes to pay back your loan. lower your payments to make them more affordable, or. extend your repayment time up to 174 months to make your payments smaller.
make payments equal to 2 regular monthly payments and choose one of the following options, if applicable: pay off any outstanding interest on your loan, or. add any unpaid interest to the balance of your loan (this option can only be used once) Once you make your payments, contact the NSLSC. You should receive a new repayment schedule within 1 ...
Pre-Authorized Debit. This is the easiest way to ensure your payments are made consistently and on time. If your student loan was deposited directly into your bank account, you are automatically set up for Pre-Authorized Debit. This sample of a void cheque will help you complete your bank account information. Log in to set up Pre-Authorized Debit.
People also ask
What should I do if I don't pay my student loans?
What happens if you don't pay your student loan payments?
What if I have difficulty paying my student loans?
How do I pay my student loan?
What if I don't pay my loan after finishing school?
How do I pay my student loan after finishing school?
Whatever the reason, not making your student loan payments has serious consequences. Your credit score can suffer making it difficult to get a mortgage, car loan, or line of credit in the future. A poor credit score will follow you for 7 years, putting you in the ‘risk’ category for future financial loans you may want to apply for.
