While you’re studying, the federal government will pay the attention on your own pupil financial obligation.

While you’re studying, the federal government will pay 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 us government ceases to cover the interest on the pupil financial obligation and also you assume obligation for this.

Nonetheless, throughout the 6-month duration straight away after the conclusion of or your withdrawal from your studies, you are able to reap the benefits of a partial exemption, for example., you don’t have to begin with repaying your student financial obligation). You might be in charge of the attention on your own loan, but you’ll have it capitalized, i.e., converted into principal.

From then on 6-month duration, when you yourself have perhaps not resumed your studies, you have to start repaying your financial troubles (principal and interest).

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 an understanding with all the Desjardins Group scholar Advisory Centre prior to the end for this duration. When the mortgage is consol Aide financiere etudes that are aux. Go directly to the Aide financiere aux etudes (AFE) web site to discover what the attention price payable throughout the exemption that is partial is.

Paying down the debt

To do this, you need to conclude a payment contract because of the Desjardins Group scholar Advisory Centre prior to the end of this exemption period that is partial. […]

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