If You Need Help Repaying

B.C. interest relief program

This program helps people who have difficulty repaying their B.C. student loans because of low income and financial hardship.

If you qualify, the B.C. government will pay the interest on your B.C. student loans for six-month periods up to a maximum of 30 months. During this time, you do not have to make any loan payments.

If you continue to have financial problems, you may also qualify for extended interest relief of up to 54 months during the first five years of student loan repayment.

The B.C. interest relief program becomes available to you once you have consolidated your student loans. You may apply at any time during your repayment period.

You cannot apply for interest relief during the six-month grace period that follows your study-program end date.

Eligibility criteria

To receive B.C. interest relief you must meet all the following conditions:

  • Be in repayment of your B.C. student loans.
  • Have a family income (before taxes and other deductions) that does not exceed the maximum amount specified for your family.
  • Have not received the maximum of 30 months of B.C. interest relief or 54 months of extended B.C. interest relief.
  • Be living in Canada or participating in an international internship program.
  • Owe less than 150 days’ interest on your B.C. student loan.

As well:

  • All loans in your B.C. student loan portfolio must be less than 150 days in arrears.
  • If you declared bankruptcy after May 11, 2004, you can still apply for the B.C.interest relief program if you meet all other eligibility criteria.
  • If your loans are currently held with Revenue Services of BC, you are not eligible to apply for the B.C. interest relief program.
  • If your StudentAid BC file is being audited, your application will not be processed until the audit is complete.

Application form / how to apply

Apply online through the B.C. Student Loan Service Bureau website and you will be notified within 48 hours of the status of your B.C. interest relief application. Simply log in to the secure section of the website to complete your application.

This fast-track method ensures your request is processed much faster than by submitting a paper form. Click here to apply online.

If you only have loans that were cashed before Aug. 1, 2000, you must use a paper application. Application forms for the B.C. interest relief program are available through your lender, or from your school's financial aid office. They can also be downloaded[3.67mb].

Submit your application form to the lender with whom you cashed your most recent B.C. student loan. For most students, this is the B.C. Student Loan Service Bureau.

If you are approved for B.C. interest relief, the provincial government will automatically inform all other lending institutions holding your B.C. student loans. This will ensure that all your B.C. student loans receive interest relief for the same approved time period.

Appealing a B.C. interest relief decision

If you are not approved for B.C. interest relief, appeals will only be considered on the basis of exceptional medical expenses affecting your income.

To request an appeal, use an Appendix 6 – Appeal request [2mb] (contains forms for 15 different kinds of appeals; choose and print the one you need).

Interest relief for Canada student loans

For information about the federal government’s interest relief program, visit the National Student Loans Service Centre.