Elimination of Canada Student Loan Interest
The Government of Canada has permanently eliminated the accumulation of interest on Canada Student Loans effective April 1st, 2023. For more details, see What’s New.
Log in to your NSLSC account to review the latest information on your repayment terms. If you want to make further changes, you can Customize your Payment Terms anytime.
Tax Season
If you paid interest on your student loan in 2022, your Tax Receipt and annual statement will be available in your secure inbox as of January 13th, 2023.
T4A documents will be available by February 7th, 2023.
Enhancing the Repayment Assistance Plan
The governments of Canada, Manitoba, Newfoundland and Labrador, Saskatchewan, and New Brunswick have updated their Repayment Assistance Plan (RAP) eligibility with new zero payment income thresholds and the maximum payments have been lowered from 20% to 10% of a household income. The changes are effective in November 2022. To apply for RAP, log in to your secure NSLSC account.
New Canada-Manitoba Integrated Student Loans
The Government of Canada and Manitoba have integrated the administration of their student loan programs effective July 1st, 2022. For more details, please visit: Manitoba Student Aid.