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Repaying after leaving school. 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.
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.
Let another person manage your student loan. You can give another person power of attorney to take care of your student loan dealings with us. Power of Attorney form (PDF, 69 KB) Fill out the form and send it to: National Student Loans Service Centre (NSLSC) P.O. Box 4030. Mississauga ON L5A 4M4.
Canada Student Loans Persistent or Prolonged Disability. Effective August 1, 2022, the Government of Canada is expanding access to disability supports to students and borrowers with a persistent or prolonged disability. For more information and/or to see if you are eligible for persistent or prolonged disability benefits, visit Canada.ca.
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.
Qualifying family doctors could receive up to $60,000 in Canada Student Loan forgiveness over a maximum of five years, starting at $8,000 in the first year, and an extra $2,000 will be compounded for each subsequent year. Qualifying nurses could receive up to $30,000 over a maximum of five years, starting at $4,000 in the first year and an ...
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Your repayment term (how many months it will take you to pay off your loans based on your repayment schedule) Repayment term for Alberta loans. Repayment term for Canada loans. $0 - $3000. 3 years. You can determine using the Government of Canada’s loan repayment estimator. $3001 - $6000. 8 years. $6001 and more.
