Reduce Your Debt!
When you leave full-time studies, or if your course load drops under the minimum requirement, you have six months before you have to start paying back your student loans. During this time, you need to talk to your lenders about repayment arrangements. Your lenders will work with you to prepare a repayment schedule, usually over a ten (10) year period.
Check here for Loan Repayment Assistance available on the Canlearn website. This will give you an idea of your repayment schedule and amount.
It is extremely important to begin plans for repayment of the student loan(s) you have incurred during your studies. See the Loan Repayment Section of this website.
Loan Forgiveness, Loan Remission, Debt Reduction
- Every province has some form of loan remission or loan forgiveness in place.
- Many of these are available to students upon graduation.
- Many require that the student make application.
Please check your provincial student loan website and search for “loan forgiveness,” “loan remission,” or “debt reduction” to see if they have a program available to you. These are usually time sensitive (within 30 days of graduation) so please do not put off checking on this loan rebate