If you contracted a loan for part-time studies, you will only be required to start repaying it six month after completing your part-time studies. The government will be responsible for repaying the interest on your student loan as long as you remain a part-time student. You will become responsible for the interest charges as of the month following the completion of your part-time studies. You may then choose to start making payments right away or postpone the repayment for six months. At the end of this six-month period, however, you will have to make an appointment with an authorized person of your financial institution in order to work out a repayment agreement. Under this agreement, you will commit to repaying the interest and principal on your student loan.
Please note that, if you decide to enroll in full-time studies after completing your part-time studies, you will not be required to repay your part-time studies loan until the completion of your full-time studies.
Under the section Summary of Loans for Part-Time Studies, there are two tables: “Exemption Periods” and “Loans”. They include the following information:
Exemption Periods
-
Transit Number
Identification code of your financial institution.
-
Start of Full Exemption Period
Start date of the period during which the
interest on your student
loan debt is paid by the government.
-
End of Full Exemption Period
Date as of which you become responsible for the interest on
your student loan debt. This marks the start of the partial
exemption period. You are not yet required to start repaying the principal
on your student loan, but you must start making interest
payments.
-
End of Partial Exemption Period
Date as of which you must start repaying the interest and principal on your student loans (i.e. six months after the completion of your part-time studies).
-
Confirmation
If the note “Pending Confirmation” appears, this means
that we are awaiting
confirmation from your financial institution regarding student
loans contracted at an earlier date.
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Loans
-
Type of Loan
Type of loan contracted: student loan, computer loan, etc.
-
Loan Balance
Total amount of the student loans a financial institution has granted and which
have not been repaid.
- Outstanding Loan
The amount of a loan that is currently outstanding.
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