While you’re learning, the national federal government pays the attention on your own pupil financial obligation.
After your studies
Partial exemption duration
At the start of the thirty days after termination of or withdrawal from your own studies, the federal government ceases to cover the attention on your pupil financial obligation and also you assume duty because of it.
Nevertheless, throughout the 6-month duration instantly after the conclusion of or your withdrawal from your own studies, you can easily reap the benefits of a partial exemption, i.e., you don’t have to start repaying your pupil financial obligation). You will be accountable for the attention on your loan, but it can be had by you capitalized, i.e., converted into principal.
After that 6-month duration, you must begin repaying your debt (principal and interest) if you have not resumed your studies,.
Important! After that 6-month duration, you must begin repaying the student loan debt contracted during your full-time studies, whether or not you are receiving a loan under the Loans Program for Part-Time Studies if you begin studying on a part-time basis.
Rate of interest
The attention price is fixed through the exemption that is partial, until you have actually an understanding because of the Desjardins Group scholar Advisory Centre ahead of the end with this duration. The moment the loan is consol Aide financiere aux etudes. Go right to the Aide financiere aux etudes (AFE) web site to uncover what the attention price payable through the exemption that is partial is.
Paying down the debt
To do this, you have to conclude a payment contract because of the Desjardins Group scholar Advisory Centre ahead of the end of this exemption period that is partial.