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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
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
Government of Canada Tax Credits for Student Loans. A student loan tax credit allows you to deduct some of the interest that you pay on your student loan each year, including payments made during the non-repayment period. You will receive your Interest Paid statement in your secure inbox at the beginning of each calendar year.
There are lifetime limits on the number of weeks you can receive student aid. This includes any payment-free or interest-free periods while you are in school. You also have to start paying back your loan 6 months after you graduate or finish your studies. Full-time students can receive student aid for a maximum of 340 weeks, except: students ...
For student loans received after August 1, 2000. If you received loans after August 1, 2000 they are a joint federal-provincial student loan (Canada-B.C. integrated student loan).
It is time to start repaying your student loan(s) when: you have completed your program; you are no longer registered in school; or; your enrolment is not confirmed. Once you start repaying your loan, you will receive an annual tax credit for any interest paid. This will be available in your secure NSLSC inbox.
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Learn about the different ways to pay back your student loan(s). It is important to make your payments consistently and on time. Missed payments can negatively impact your credit rating.
