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REPAY Your Loan

Repayment of your loan will begin 6 months after your study period end date through the National Student Loan Service Centre (NSLSC).

If You Miss Loan Payments

  • Your loan will become delinquent when you are not making regularly scheduled monthly payments.
  • Consequences of not repaying your student loan:
    • Added interest charges
    • Loss of eligibility for future StudentAid BC funding
    • Being contacted by a collection agency
    • A bad credit rating and inability to get credit
    • Loss of future income tax refunds and tax rebates
    • Being taken to court
    • Garnishment of your wages
    • Liens against your property

Get Help With Repayment

  • Repayment assistance plan (RAP)
    • Assists with managing your loan debt by decreasing your monthly payment and allowing you to pay back what you can reasonable afford, if approved.
    • Apply online through NSLSC
  • Repayment assistance plan for borrowers with a permanent disability (RAP-DP)
    • Helps with managing your loan debt by reducing your monthly payment and allowing you to pay back what you can reasonable afford, if approved.
    • Apply online through NSLSC
  • Revision of terms
    • Allows the terms of your loan to be changed if you need more time to pay with the options below:
      • Decrease payments for a short period.
      • Extend the repayment time of your loan to permanently decrease monthly payments.
      • Make interest-only payments for a short period.
    • Apply online through NSLSC