Skip to main content
July 11, 2022
Question

Can I postpone my student loan for 1 year since i'm still in school

  • July 11, 2022
  • 1 reply
  • 0 views
I just finished my degree and I am returning to start my masters, Can I postpone declaring my loan amount for one year.

    1 reply

    November 2, 2022

    Loan repayments only begin after school is completed.

    As per CRA (Canada Revenue Agency),

    After finishing school, there is a 6-month non-repayment period. No interest accrues on your Canada Student Loan during this time. When this period is over you have to start making payments on your Loan. For information on repayment, contact the NSLSC.

    The 6-month non-repayment period starts after you:

    • finish your final school term
    • reduce from full-time to part-time studies
    • leave school or take time off school

    Within 6-months of finishing school, you will receive a package detailing your payment terms and payment options.

    For full information view link below:

    https://www.canada.ca/en/services/benefits/education/student-aid/grants-loans/repay.html

    Thank you for choosing TurboTax.