Repay a student loan – Update payment options
Provincial or territorial payments
Your payment options depend on which province or territory you applied for Student Financial Assistance.
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.
Alberta, Manitoba, Nova Scotia and Prince Edward Island
You have provincial and federal portions of your loan that need to be repaid separately.
Follow the instructions from your provincial loan provider to repay your provincial 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.
You repay your federal student loans through the National Student Loan Service Centre. Use the instructions on this page.
Increase or decrease your monthly payment
If you have a full-time student loan, you can customize your payment online. Any amount you pay over your monthly payment will be applied toward the principal of your loan. This will lessen the time it takes to pay back your loan and will lower the amount of interest you pay. You can lower your payments by extending your repayment period up to 174 months. This will make your payment smaller but you will pay more interest.
- Customize your monthly payment terms by logging in to your secure National Student Loans Service Centre (NSLSC) account.
To reduce your payments below the minimum amount or if you do not wish to change your payment terms online, contact the NSLSC.
If you need more help in repaying your loan, you may be able to get Repayment assistance.
Payment date and frequency update
You can change the day of the month your payment is due:
- Change Your Payment Due Date form (PDF, 82 KB)
Fill out the form and mail it to:
National Student Loan Service Centre
P.O. Box 4030
Mississauga, ON L5A 4M4
You can set up weekly or bi-weekly payments by adding multiple days of the month as payment dates.
Consider setting payments soon after your receive a pay cheque to help pay off your debt in the quickest way that works for you.
Update your banking information
Pre-authorized monthly payments will be taken out of your account automatically. Log in to your secure NSLSC account to update your banking information.
Change your interest rate option
You can change your interest rate option from a floating to fixed interest at any time by contacting the NSLSC. Once you have chosen a fixed rate, you cannot change back.
Loan repayment estimator
Use the Repayment estimator to find out how much you would need to repay each month.
Make payments outside of monthly payments
There are other ways to make payments. You can:
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