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Upon completing your studies

Six-month option

At the beginning of the month following the completion of (or withdrawal from) your studies, the government ceases to pay the interest on your debt. You then assume responsibility for that interest.

The six-month option concerns the period of six months following the end of your full-time studies. During that period, you are exempted from repaying the loan principal and the loan interest is deferred. In this manner, you benefit from a partial exemption.

As of that date, you must choose one of three solutions proposed for the six months that follow.

Depending on your financial situation, you can:

Wait six months and add the interest to the loan principal

 1.

Await the expiry of the six-month period following the termination of your full-time studies, then conclude a repayment agreement with your financial institution. The interest that accrues during that six-month period will be capitalized, that is, it will be added to the loan principal. After that period, you must begin

Repay the principal and the interest

 2.

Immediately conclude a repayment agreement and begin repaying the loan principal and interest. If you have the financial capacity to do so, you will pay less interest and finish repaying your debt earlier.

Repay the interest only

 3.

Repay only the interest each month during the next six months. You will not accumulate interest and the amount of your debt will remain unchanged. After that period, you will have to begin repaying the loan principal and interest.

Consult the variable interest rate applicable during the six-month option.

Who must you inform of your choice?

If we do not receive a reply, option 1 will be applied. If you prefer one of the other two options, you must contact the student loan centre of your financial institution as soon as possible and before the expiry of the six-month period that follows the termination of your full-time studies.

Important! If you have already concluded a repayment agreement, you must once again contact the student loan centre of your financial institution to arrange the change.

After the six-month period

After the six-month period, regardless of the option you selected, if you do not resume full-time studies, you must begin repaying your student debt (loan principal and interest).

Consult the variable interest rate applicable during the six-month option.

If you begin part-time studies, you must nevertheless start repaying the loan for full-time studies, even if you receive a loan under the Loans Program for Part-Time Studies.

If you resume your studies during the six-month option

If you resume your studies during the partial exemption period, the government will again assume responsibility for paying the interest that accrues on your student debt. It will pay your financial institution all the interest that has accrued since the beginning of your studies.

  • It will do so if you have pursued full-time studies and you are resuming full-time studies.
  • It will also do so if you have pursued part-time studies and you resume part-time or full-time studies.
  • However, it will not do so if you have pursued full-time studies and you resume part-time studies. In that case, you must assume responsibility for the interest accrued on the debt accumulated during your full-time studies and prepare to repay them. 
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