Repay Your Loan

Understand Repayment Terms - Whether you have finished your program, transferred to part-time studies, are taking time off or have withdrawn from school completely, you must contact the lender(s) who hold your student loans to arrange repayment within six months of leaving your studies. Learn more about repayment here.

Make Payments While Still in School - You may want to start repaying your student loans while you are still attending school. Any payments you make will be applied directly to the outstanding principal balance of your loan, so starting your repayments early will reduce your debt load after graduation.

If You Miss Payments on Your Student Loans - A loan is considered delinquent when a student is unable or unwilling to make the monthly payment on a student loan. Learn more about the consequences of missing payments on your student loan.

If You Need Help Repaying - If you are having difficulty making monthly payments on your Canada or B.C. student loans, you may be eligible for debt management programs. Learn more about the debt management programs available from StudentAid BC.

If You Declare Bankruptcy - Declaring bankruptcy when you have student loans can have serious long-term effects on your financial and educational future. Learn more about the consequences of declaring bankruptcy when you have a student loan.