Repay a student loan - Lump-sum payment

Lump-sum payments

You can make Lump-sum payments at any time to pay off or reduce your total balance. This is one of the fastest ways to pay off your debt.

Payments you make while attending school or during the six month non-repayment period will be applied directly to the principal of your loan. Lump-sum payments you make during the repayment period will be applied to the interest first, then the principal of your loan. You will still have to make your regular monthly payments.

Online banking

  • Add the National Student Loans Service Centre as a payee through your online banking site
  • Use your loan number as your 7-digit account number

By mail

Have the NSLSC withdraw a one-time payment from the bank account on your file or listed on the form:

Fill out the form and mail it to:

National Student Loan Service Centre 
P.O. Box 4030 
Mississauga, ON 
L5A 4M4

Online lump-sum payments with HigherEdPoints.com

If you have an account with HigherEdPoints.com, a third-party program to use reward points on student loans, you can use it to make a Lump-sum payment.

Note: This link is to a web site not under the control of Employment and Social Development Canada (ESDC). It is provided solely for your convenience. ESDC is not responsible for the accuracy, currency or the reliability of the content. ESDC does not endorse the site or its content. You should be aware that information offered by this site is not subject to the Official Languages Act. Use of HigherEdPoints.com is at your own risk.

Provincial or territorial payments

Ontario, British Columbia, Saskatchewan, New Brunswick, or Newfoundland and Labrador

You repay all your student loans through the National Student Loan Service Centre. Use the instructions on this page to make a lump-sum payment.

Alberta, Manitoba, Nova Scotia and Prince Edward Island

You have provincial and federal parts of your loan that need to be repaid separately.

Follow the instructions from your provincial loan provider to repay your loan. You can follow the instructions on this page for the federal part of your loan.

Quebec, Nunavut or the Northwest Territories

You pay back your loan directly to your province or territory. Contact your provincial or territorial loan provider to arrange payments.

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