Im having difficulty paying back a loan for part time studies. Can the Repayment Assistance Plan help me?
A. Yes. If you have a student loan for part time studies and are having difficulty paying back your loan, you can apply for the Repayment Assistance Plan. Under the Plan, borrowers will see their debt gradually reduced over a 15 year period and the federal government will cover the difference between the borrower’s affordable payment (calculated based on family size and family income) and their required payment (calculated by the Canada Student Loans Program). No borrower should have a repayment period longer than 15 years (or 10 years for persons with permanent disabilities). Contact the National Student Loans Service Centre (NSLSC) when you first think that you may have difficulty repaying your loan, before you miss any payments. Staff can help you to understand the measures that are available.
