Repayment

What would you like to do?

• I got a letter to say I’m entering repayment, but I’m still in school. Help!
• I am entering repayment, and want to learn more about what happens next.
• I want to reduce the amount of student loans that I owe.
• I’m having trouble making my student loan payments and want to explore my repayment assistance options.
• I am “in default”, and want to learn more about what that means.
• I want to contact the Resolve Corporation/the lender that manages my loans so I can:
  • increase my payments
  • update my banking information
  • ask about or apply for repayment assistance
  • ask questions about my account, direct debit payments, etc.

Starting Repayment:

Your options & What happens next

Six months after you leave school, you start paying on your Nova Scotia Student Loans and your Canda Student Loans. Before your six months is up, you will be contacted by the National Student Loan Service Centre and Resolve. They will describe your repayment schedule and you may have repayment options to choose from. For example, how long you take to repay your loans is up to you, to a maximum of 9.5 years.

• Respond to these as directed to start repayment on schedule.
• If you are in danger of defaulting on your loan, please contact Resolve. Defaulting on your loans can have serious, long-term consequences. We have Repayment Assistance Programs to help you until you can afford to make regular payments again.
• If you have been told you're in default, or due to begin repayment, but you are still in school, you may need to take action to reinstate your Interest-Free Status.

Related Topics:

• Interest Rates
• Zero Interest on NS Student Loans
• Repayment Assistance Programs

Managing your loan account

Contact the student loan service providers

Opportunities to reduce your student loans after graduation

• The Nova Scotia Loan Forgiveness Program:
  • Undergraduate Degrees: May eliminate your NS student loan for eligible programs completed at a NS University. It is assessed automatically. Learn more about eligibility
  • Diplomas and Certificates: May eliminate your NS student loan for eligible programs completed at NSCC or a NS University. It is assessed automatically. Learn more about eligibility
  • Students who have a disability are automatically assessed a little differently for Loan Forgiveness, allowing more time for students to complete their program. Learn more about eligibility.
• Zero Interest on NS Student Loans
• Canada Student Loan Forgiveness Program for Eligible Occupations
• Canada Student Loan Forgiveness for Family Doctors and Nurses
• Use Income Tax refunds that result from your education tax-credits and other income tax advantages for students to make lump sum payments and reduce your loans.

Managing your loan account: Contact these service providers