Repayment and Interest
Interest-Free and/or Non-Repayment Status
Have you had government student aid previously but are paying tuition on your own this year?
Students that have taken out student aid in previous years but are not taking out new loans can let their student aid branches know they're still in school in order to obtain non-payment and/or interest-free status.
Students can now complete a Schedule 2 Confirmation of Enrolment online to inform Canada Student Loans that they are currently enrolled in studies.
Visit the National Student Loan Service Centre website to complete a confirmation of enrolment request.
- Log in to your NSLSC account.
- On the top menu bar, click on “Managing Your Loan” then “Confirm Your Enrolment”.
- Read the prompt and click “Confirm My Enrolment”. On the next page, click on the appropriate link, and you will be directed to the page where you will enter your current registration.
- After you hit submit, the request will be added to our queue to complete.
The Awards Office completes confirmation of enrolment requests within 5 business days of receipt. Please note that we are not able to complete requests earlier than 30 days before start of term.
Please contact your provincial or territorial government student aid branch and/or come to the Awards & Financial Aid office where staff can provide you with the necessary forms and instructions.
Interest Rates and Government Student Aid
Canada Student Loans and Manitoba Student Loans are interest-free while you are in school full-time.
|
Interest Rate During Full-Time Studies & Grace Period* |
Interest Rate Once Graduated and/or Out of Full-Time Studies for 6 Months |
|
|
Manitoba Student Aid |
0% |
0% |
|
Canada Student Loans |
0% |
0% |
|
Out-of-Province |
Varies |
Varies |
*Grace Period is the 6-month non-repayment period between the time you finish school and before you must begin making payments on your loans.
Repaying your Loans
Are you graduating or leaving school? Then it's time to take charge of your finances! Remember that you don't have to make any payments on your student loan(s) for the first six months after you leave school.
Your government student loan(s) may come from the federal government and or your provincial/territorial government. This means you could have more than one loan to pay back.
Payments on you Canada-Manitoba Integrated Student Loan start six months after you stop attending school full-time, and you will be notified by mail. For a detailed summary and estimated monthly payment information, log into your NSLSC account. Payments are due on your Manitoba Student Loan six months after you stop going to school full-time. Manitoba Student Aid will send you information with specific dates of when your payments will start and how much they will be. Visit the Manitoba Student Aid website for full details.
Depending on the province(s) or territories from which you received funding, you might receive a Consolidation Agreement by mail for your provincial or territorial student loan.
For the federal portion of your loan (if applicable), you should also receive a separate Consolidation Agreement from NSLSC.
Visit your provincial or territorial student aid branch and the Canada Student Loans websites for full details.
Watch a Video on How Repayment Works
The National Student Loan Service Centre now offers webinars to give you information regarding the repayment process, hints and tips on how to save on interest, and what to do in the event that you are having difficulty making the payments.
Watch this 22-minute informative video from NSLSC on repayment.
Repayment Assistance
The Government of Canada and participating provinces provide repayment assistance to borrowers with lower incomes who apply and are eligible for the Repayment Assistance Plan (RAP). You can apply for RAP as soon as you enter repayment status (6 months after you graduate or leave school). You must apply for the RAP before you miss any payments.
Log in to the NSLSC Portal to apply for RAP/RAP-D. For more details, you may also contact NSLSC.