Loan Repayment Options

There are a variety of loan repayment options that can help you establish payments that are better aligned to your financial situation, including customizing your payment terms. 

However you choose to pay back your loan, it is important to make your payments consistently and on time. Missed payments can negatively impact your credit rating. 

Explore all your options to take advantage of the Repayment Assistance Plan (RAP) that may be available to you.

Enrolment in the Repayment Assistance Plan is not automatic; you must apply. If you have additional questions or need help with loan repayment options, please Contact Us.

Repayment Assistance Plan (RAP)

If you qualify for the Repayment Assistance Plan, you are eligible for a reduced monthly payment, or no monthly payment.

Each period of repayment assistance lasts six months. You must apply for the RAP, as it is not automatic.

Learn more about the Repayment Assistance Plan

Repayment Assistance for Borrowers with a Permanent Disability (RAP-PD)

If you are eligible for the Repayment Assistance Plan and have a Permanent Disability, you may qualify for Repayment Assistance for Borrowers with a Permanent Disability.

In addition to a reduced monthly payment, or no monthly payment at all, you may be eligible for a further reduced payment amount to help with expenses related to your disability. 

Learn more about the benefits of RAP-PD

Severe Permanent Disability Benefit

You may be eligible for Loan Forgiveness through the Severe Permanent Disability Benefit.

You must have a Severe Permanent Disability that prevents you from participating in full-time or part-time technical training or work, and this disability must be expected to prevent you from participating in these activities for the rest of your life.

Customize Payment Terms

You can request a Revision of Terms to your loan to decrease or increase your payments, and the time it will take to pay back your loan.

If you increase your monthly payments, you can pay off your loan faster.

If you are having difficulty paying back your loan, you can request to decrease your monthly payments. This will increase the time it will take to pay back your loan, as well as the amount of interest you will pay.

Medical and Parental Leave

The Medical and Parental Leave is for students taking temporary leave from their studies for medical or parental reasons, including mental health reasons. It offers interest and payment-free for six-month periods, up to a maximum of 18 consecutive months. For more information and/or to see if you are eligible for the Medical and Parental Leave, visit