Stages of a Loan

Learn more about the different stages of a student loan by selecting the options below.

In Study

While you are still in school, you are not required to make any payments and your loan is interest-free during this time. It is important to confirm your enrolment every year that you are in study to maintain your interest-free status.

Ensure your contact details are up-to-date with the NSLSC, and keep your province or territory informed of any changes to your financial situation, as that may impact the amount of financial assistance you receive.

Non-repayment Period (Grace Period)

The non-repayment period is the first six months after your Period of Study End Date (PSED). During this period, you are not required to make payments. However, interest may begin to accrue on the principal amount of your outstanding loan balance.

Note: No interest is charged on Canada Student Loans, Newfoundland and Labrador, British Columbia, and Canada portion of Integrated Student Loans during the six-month non-repayment period (grace period).


This is the period of paying back your student loan(s). Repayment begins six months after you leave school.

Repaying Your Loan

Never miss a loan payment by signing up for pre-authorized debit. It is the easiest way of ensuring your payments are made on time.

Impact of Missing Loan Payments

Missing payments on your student loan(s) can negatively affect your credit rating as well as incur additional costs. You could face additional interest charges. If you default on your loan, you could lose out on income tax refunds and be unable to obtain further grants or loans. In addition, you may have to deal with government collections.

Set up a payment schedule that works for your current financial situation.

Repayment Assistance

If you are experiencing challenges making your monthly student loan payment, or if you are earning less than $25,000 per year (more for larger family sizes – see table below), you can apply for help through the Repayment Assistance Plan (RAP). 

Depending on your financial situation, you may be approved for a reduced monthly payment, or for no monthly payment at all. 

Annual gross family income thresholds for zero payment under the RAP by family size
Family size Income threshold
1 $25,000
2 $39,052
3 $50,457
4 $59,512
5+ $67,825

If your income falls above these income thresholds, you may be eligible for a reduced monthly payment.

Learn more about the RAP or use the Repayment Assistance Estimator to see if you qualify for the RAP.

In Collection

If you default on your student loan by missing payments for 270 days or more (nine months), your loan will be sent to the Canada Revenue Agency (CRA) or your Province and/or Territory for collection.

You can bring your loan back into good standing by applying for Loan Rehabilitation.

Learn more about collection and applying for Loan Rehabilitation.

Who to Contact

Government Phone number
Federal and/or Saskatchewan Loans (Canada Revenue Agency) 1-866-864-5823 – Within Canada

1-613-248-4463 – Out of country callers

1-866-602-9454 – For Income Tax Receipt inquiries on interest paid on loans sent to collections.
Ontario (Collection Management Unit) 1-800-387-5604 (Toll-free in Ontario)

416-326-0500 (Local)
British Columbia 1-866-345-3930 – Within Canada

1-250-405-4968 – Out of country callers

1-250-405-4412 or 1-250-405-4410 - Fax
New Brunswick

1-877-499-2082 (Toll-free)

506-444-3461 (Local)

1-506-444-2054 (Fax) (e-mail)

Newfoundland and Labrador