Loan Repayment Options - Repaying Your Student Loan

When you're in your last year of studies there are some other things you need to know about your loans. For quick reference, you may want to print off a copy of Quick Tips for Repaying Your Student Loan.

To compare different repayment options, check out NSLSC's Loan Repayment Calculator .

Once you are in repayment you can check the status of your loan account with the NSLSC.

Be sure to keep your address up to date with Student Financial Assistance Branch, the National Student Loans Service Centre, any previous lenders and your school. Keeping in touch is an important part of avoiding surprises about your student loan status!

Tax Credits

While you are in repayment, you are able to claim the interest portion of your Student Loan payments as a tax credit. Each year you will receive a statement from the National Student Loans Service Centre and/or the financial institution that holds your loan, indicating the amount of interest paid during the tax year.

For details on how/where to enter this information on your income tax return refer to your Income Tax guide or contact Canada Customs and Revenue Agency’s Tax Information Phone Service (TIPS), listed in the blue pages of your telephone book.