Repayment Assistance

Repaying Your Student Loan
The repayment period for all student loans begins on the date the borrower graduates or leaves school. Payments are not required until six months after the repayment period begins; however, interest accumulates during this time.

Visit the Repaying Your Government Student Loan section of CanLearn.ca for more information about repayment assistance for borrowers experiencing financial difficulty.

Repayment Assistance Plan
Beginning on August 1, 2009, the new federal Repayment Assistance Plan (RAP) will be available to borrowers who are having difficulty paying back their student loan debt. The Plan makes it easier for student loan borrowers experiencing financial hardship to manage their student loan debt. Student loan payments are based on what the borrower can reasonably afford based on their family income and family size.

Student loan borrowers must apply for the new Repayment Assistance Plan. Enrolment is not automatic.

The Plan replaces the Interest Relief and Debt Reduction in Repayment measures. Borrowers who were approved for Interest Relief and Debt Reduction in Repayment before August 1, 2009, may continue to benefir from these measures until their approved period ends. However, they have the option to apply for the Repayment Assistance Plan at any time after August 1, 2009.

Permanent Disability Benefit
Beginning on August 1, 2009, the Permanent Disability Benefit is available to borrowers with a severe permanent disability. If you have a severe permanent disability, you may be eligible to have your loans immediately forgiven.

Students with a severe permanent disability who received loans between 1995 and 2000 will now be eligible for immediate loan forgiveness regardless of when the severe permanent disability occurred.

Revising the Terms of Your Loan
Under the Revision of Terms measure, borrowers can ask to decrease or increase their student loan payments. This measure is available for borrowers who are experiencing difficulty in repaying their student loan debt or wish to pay off their loan debt more quickly.

Tax Relief
Visit this page to find out about the kinds of tax relief the Government of Canada offers to students.