Out of Province Interest-Free Status
Refer to the Government Student Assistance page for complete information about government student financial assistance from your home province.
Students who are NOT receiving government financial assistance from their province for the current study period and who are enrolled as a full time student are responsible to update their lender (loan servicer) before the end of their six (6) month grace period to avoid accruing irreversible interest on their previous government loans.
If you are receiving full time government funding for the current study period, your lender (loan servicer) will automatically update your interest-free status based on the study period dates of your current application once your application has processed.
Note: If you apply for government student financial assistance late or there is a delay in the processing of your current application and you will not receive your 1st installment at the start of your study period we recommend that you update your lender (loan servicer) to avoid accruing interest.
How to Maintain Your Interest-Free Status:
You have two options to maintain your interest-free status and update your lender(s):
Electronically via the NSLSC (National Student Loans Service Centre) Portal
Please note, if you do not have previous Federal loans you must request interest-free status via the paper form (see option 2 below) in order to maintain interest-free status on your outstanding provincial loans.
Please Note: For further information regarding interest-free status for Ontario students, please see the Student Awards website.
The NSLSC Portal – How to Initiate an Interest-Free Request online:
- Visit www.canlearn.ca
a. Select NSLSC Online Services
b. Sign On or new users must register (you will require your SIN and loan number to register, you may call the NSLSC 1-888-815-4514 to obtain your loan number)
- Select Confirm your Enrollment
- Complete the required sections
- Submit your request
Requests will be sent electronically to the school and will be completed by the Student Awards Office within 3-5 business days after the study start date. It usually takes about 12 business days for your account to be updated. The Student Awards Office cannot process requests received after the study end date.
This option is available to students borrowing from the following provinces:
- PEI (federal loans updated only: must use paper option 2 below to update provincial lender)
- MB (federal loans updated only: must use paper option 2 below to update provincial lender)
All of your lenders (loan servicers) need to be notified as soon as possible of your full-time student status. If you have loans that are not being serviced by the NSLSC you must use the paper form indicated below.
This option requires you (the borrower) to have the Student Awards Office complete the form indicated below; you must submit the completed form to your lender(s).
You may contact your provincial or territorial student assistance office for further information.
The following forms will maintain your interest-free status:
- BC: Canada Schedule 2 Form
- AB: Alberta Form B
- SK: Canada Schedule 2 Form
- MB: Manitoba Continuation of Interest Free Status Form
- QC: Quebec Confirmation of Full Time Status Form
- NL: Canada Schedule 2 Form
- NB: Canada Schedule 2 Form
- NS: Canada Schedule 2 Form
- PEI:Canada Schedule 2 Form
- YK: Canada Schedule 2 Form
- NWT: NWT Form D