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Interest may begin to accrue
- The non-repayment period is the six-month period after your current school period ends. During this period, you are not required to make payments. However, interest may begin to accrue.
During the six-month non-repayment period, you can: start making payments right away to pay your loan off faster; pay any accumulated interest as a lump sum prior to making your regular payments; or. add the interest amount to your outstanding loan balance.
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The non-repayment period is the six-month period after your...
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- Non-Repayment
The non-repayment period is the six-month period after your current school period ends. During this period, you are not required to make payments. However, interest may begin to accrue. Watch this short video to learn more.
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- Repaying after leaving school
- Provincial or territorial payments
- Delay repayment
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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
Once you have finished your studies, you will enter into repayment after a 6-month non-repayment period. At this time, you will have payment options to consider: interest rate. increase or decrease your monthly payment. your payment date and frequency. choose the bank account for your payments.
Non-repayment Period. The non-repayment period is the first six months after the end of your studies. During this period, you are not required to make payments. However, interest may begin to accrue on the principal amount of your loan balance.
Sep 12, 2019 · As of Nov. 1, interest will no longer accumulate on Canada student loans and Canada Apprentice Loans during the non-repayment period, and interest rates will be reset lower.
People also ask
What happens to Canada student loans during the non-repayment period?
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What are the non-repayment and repayment periods?
Any payments made while in school or during your 6-month non-repayment period are applied to the principal of your loan. When in repayment, payments made are applied to any outstanding interest first, then to the principal of your loan.
