Online interest-free application
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If you are still in school full-time but are no longer receiving funding through StudentAid BC, you can apply for interest-free status.
This will delay paying back your student loan and will also prevent it from accumulating interest during the time you are in full-time studies.
Am I eligible to apply for interest-free status online?
You are eligible if you:
To put part-time Canada student loans n interest-free status, you must complete a paper Schedule 2 form and submit it directly to the National Student Loan Service Centre (NSLSC).
If you are not attending a B.C. public post-secondary school you will need to complete a paper Schedule 2 form.
If you have a grant overaward , you will need to complete a paper Certificate 3 which will help you stay interest-free while in school.
What happens once I submit this application?
You will not need to begin payments on your loan until six months after your studies end once your application is approved.
- Your application will be sent electronically to your school for confirmation of full-time enrolment.
- Your application will be sent electronically to your loan providers to confirm that your student loans are in good standing (not in default).
- You will receive confirmation from the National Student Loan Service Centre and any lending institution (if applicable) that your application has been approved.
Is my information kept secure through this process?
Yes. The online interest-free application uses a secure environment to keep your information safe.
By completing this application, you consent to sharing your information with your school and with the National Student Loan Service Centre (for your Canada student loans), and any lending institution (bank or credit union) that holds any of your previous student loans.