Repay a student loan – Can't repay
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Having trouble making a payment
If you are having trouble paying back your loan, you have options:
Missing payments will affect your credit. Learn more about credit report and score basics.
You have options
Whether you have missed a loan payment or not, you can:
- log in to your National Student Loans Service Centre (NSLSC) account to find a repayment plan
- contact the NSLSC to discuss options to help you get back on track
- if you have student loans from Alberta, Nova Scotia or Prince Edward Island, contact your province
Getting your student loan out of collections
When you miss 9 months of payments, the federal part of your loan goes to the Canada Revenue Agency (CRA) for collections. Once in collections, you do not have access to student aid. To be able to get student aid again, you must bring your loan back into good standing.
Contact the CRA to make payment arrangements and bring your loan back into good standing.
For the provincial or territorial part of your loan, contact your province or territory. Borrowers from Manitoba and Saskatchewan can contact the CRA for both federal and provincial parts of their loan.
Bring your Canada Student Loan back into good standing
If your loan is in collections, contact the CRA to see if you qualify to have your federal student loan brought back into good standing.
To bring your loan back into good standing, you can choose one of the following options, if applicable:
- Pay off any outstanding interest on your loan and make the equivalent of 4 monthly payments, or
- Add any unpaid interest to the balance of your loan (this option can only be used once) and make the equivalent of 4 monthly payments
Once you make your payments, contact the NSLSC to complete the process.
Bankruptcy
If you file for bankruptcy within 7 years of finishing your studies, your Canada Student Loan will not be cancelled. You will have to continue paying it back.