Repay a student loan – Can't repay your loan

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Having trouble making a payment

If you are having trouble making a payment, you have options:

Missing a payment will affect your credit.

You have options

Whether you have missed a loan payment or not, you can:

Getting your loan out of collection

When you miss 9 months of payments, your federal student loan is sent to the Canada Revenue Agency (CRA) for collection. Once in collection, you are no longer able to get student aid. To be able to get student aid again, you must bring your loan up to date.

  • Contact the CRA to make a payment arrangement and bring your loan up to date

For the provincial or territorial part of your student loan, you need to contact your province or territory. For borrowers from Saskatchewan you may contact the CRA for both federal and provincial parts of your student loan.

Rehabilitate your Canada Student Loan

If your loan is in collection, Contact the CRA to:

  • see if you qualify to have your federal student loan brought up to date
  • make payments equal to 2 regular monthly payments and choose one of the following options:
    1. pay off all outstanding interest on your loan, or
    2. add all unpaid interest to the balance of your loan (this option can only be done once)

Once you make your payments, contact the NSLSC. You should receive a new repayment schedule within 1 month.

Bankruptcy doesn't erase student loans during the first 7 years

Be aware: if you file for bankruptcy within 7 years of finishing your studies, your Canada Student Loan won’t be cancelled. You will have to continue paying back your Canada Student Loan.

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