On this page, you will find information on:
STUDENT LOAN REPAYMENT WEBINAR
Find out what you can do if you cannot afford your student loan payments after you graduate!
STUDENT LOAN REPAYMENT WEBINAR
REMBOURSEMENT DES PRÊTS ÉTUDIANTS PAR WEBINAIRE
Need help getting your Canada Student Loan payments back on track?
If you have missed payments on your Canada student loan for more than 270 days and your loan is now in collections, you can get help. If your student loan is in collections, you will be unable to apply for further financial assistance or repayment assistance.
Please note the rehabilitation process has changed. See below for information on how to rehabilitate your Canada student loan:
Contact: The Canada Revenue Agency (CRA) is responsible for determining your monthly repayment schedule. The CRA can confirm the exact amount you will have to repay and provide repayment options. After you contact CRA, call the National Student Loans Service Centre (NSLSC) and ask to speak with a Canada Student Loans Program (CSLP) officer. The officer can determine the status of your Canada Student Loan and discuss your rehabilitation options.
To rehabilitate a loan that has gone to Canada Revenue Agency for collection, you must:
Request restriction be removed: If your access to additional student financial assistance has been restricted, once your loan is out of collections, you may be eligible to request that the restriction be removed. Be sure to speak with a CSLP officer for details.
Stay up-to-date: Until you receive a letter from the CSLP indicating that the restriction on your loan has been removed, it is important to make all of the payments according to the monthly repayment schedule set up by the CRA.
Follow-up: If you have not received a letter from the CSLP within 20 business days, contact the NSLSC and ask to speak with a CSLP officer about your loan rehabilitation.
Need help with the provincial or territorial portion of your loan? Contact your province or territory and find out about programs they have available to you.
Remember to sign up for an online NSLSC account, so that you can stay up-to-date!
For full details on Canada Student Loan rehabilitation, visit CanLearn.ca
Contact the Canada Revenue Agency at: 1-866-864-5823
1. Government student aid contact information - Each one of Canada's provinces/territories maintains its own financial aid program for its permanent residents. Loan applications are submitted to your home province and are integrated with the federal government (so you do not have to do two applications!). Click below for your provincial/territorial site:
2. Loans for FULL-TIME students - Students who are Canadian citizens or permanent residents of Canada can apply for an integrated Provincial/territorial and Federal government student loan to help finance their tuition and living costs while pursuing full-time studies.
To be eligible for Canada Student Loans for full-time studies, you must:
Applying is easy. Just remember this: whether you plan to attend a post-secondary school on a full-time or part-time basis, you apply for student financial assistance through your province or territory of permanent residence. Ensure to apply at least 2 months before school starts & remember that to be full time, you need to have at least 9 credit hours* per term to qualify! *Graduate level students (Masters, PhD) do not have to meet the same credit hour requirements. Before you apply see this worksheet.
Remember! Government student loans are meant to be supplemental; that means that they are designed to help you with financial shortfalls and may not meet all of your educational costs so borrow wisely. Make sure that you are always aware of how much you are borrowing, and never borrow more than you think you need.
Read our Student Loans Guide: Understanding the Application Process & Avoiding Problems During the School Year (pdf) - This guide was written based on the experience of the Financial Aid & Awards staff to help students navigate the student loan application process and avoid common problems.
Government Student Loans: Frequently Asked Questions
Loans for PART-TIME students - Financial assistance measures are available help part-time students across Canada access post-secondary education:
3. Tuition fee deferrals for full-time students - The Financial Aid & Awards office offers tuition fee deferrals for current term government student loan recipients prior to most tuition fee deadlines when students have unforseen delays in receiving their funding. Please note that deferrals are only for students with current term/year government student loans; no other payment extensions/plans are available through the Financial Aid & Awards office.
To receive a deferral students must:
For information on tuition deferrals, please click here.
If you have taken out a government student loan in the past and do not have a current year's loan, you are responsible for notifying the government of your full-time, in-school status. Students must submit these forms to their government loan office(s) within their current study period as forms expire as of the last day of study for each term/school year. Forms cannot be released retroactively (after the study period has ended).
Where do I send my confirmation of enrolment (interest-free) forms?
For government loans obtained after 2000 /2001:
National Student Loans Service Centre (Canada loans processed after the year 2000): P.O. Box 4030 / Mississauga, ON / L5A 4M4 Phone: 1-888-815-4514
Contact your provincial loan office to see if they require any confirmation of enrolment (links at top of page under 'Government Aid Websites')
For government student loans obtained before 2000 /2001:
RBC Student Loans Centre: P.O. Box 4700, Station "D" / Toronto, ON / M9A 4X5 Phone: 1-800-363-3822
CIBC National Student Centre: P.O. Box 5055 / Burlington, ON / L4R 4P3 Phone: 1-800-563-2422
Note: The above is not a full listing of loan lenders; students are responsible for ensuring that they have the correct contact information. Remember to call to confirm that all forms were received as they cannot be re-issued after your study period!
5. Government student loan repayment - You have to begin repaying your government students six months after your last day of full-time enrolment (this means the last day you attended class, not the date of graduation). When you are in school full-time and have informed the government for that period of study, your full-time loans are not charged any interest. However, after your study period ends, interest begins accruing on your loan.
The government should mail you information regarding repayment 1-2 months before you are to begin your repayment. Do not ignore anything that the government sends to you regarding your student loans; failure to repay your loans in a timely manner could negatively affect your credit rating and follow you for years to come.
If you have trouble making payments, call your government student loan lender at once and ask about available repayment assistance plans.
For information on Federal government loan repayment (obtained after the year 2000) contact the National Student Loans Service Centre (NSLSC).
More information is available: Loan Repayment Estimator
DID YOU KNOW?
Government student loan recipients studying full-time from September to April may be eligible to work on campus part time! View the Work-Study page for information on part-time, on-campus jobs with UM departments and faculties.