Repaying

Interest Relief 

If you are temporarily unable to repay your Canada-Ontario Integrated Student Loan or Part-Time Canada Student Loan because of low income, you may be eligible for interest relief. During a six-month period of interest relief, you are not required to make any loan payments.

How Interest Relief Works

During periods of interest relief you are not required to make payments on either the outstanding principal of your loan or on the interest. The Government of Ontario and/or the Government of Canada pays the interest on your behalf. Neither government makes payments to reduce the outstanding principal.

Interest relief is granted for periods of six months, up to a maximum of 30 months. You may be eligible for extended interest relief of up to an additional 24 months, provided you have not been out of out of school for more than 60 months from your last study period end date.

Once the interest relief period is over, you are responsible for making loan principal and interest payments. If you make a payment while you are receiving interest relief, it will be applied directly to the principal amount.

Interest Relief Programs

There are three interest relief programs that you may apply for depending on the type of loans that you have:

• Canada-Ontario Integrated Interest Relief Program
• Ontario Student Loans Plan Interest Relief Program
• Canada Student Loans Plan Interest Relief Program 

Determining Which Interest Relief Program To Apply To:

• If you have a Canada-Ontario Integrated Student Loan only, or in addition to a Canada Student Loan and/or an Ontario Student Loan, you must apply for integrated interest relief through the Canada-Ontario Integrated Interest Relief Program. The National Student Loans Service Centre (NSLSC) administers this program and will provide you with a pre-filled and personalized integrated interest relief application form to complete.
• If you have an Ontario Student Loan (OSL) that was negotiated before August 1, 2001, but do not hold a Canada-Ontario Integrated Student Loan, you must apply for interest relief though the Ontario Student Loans Plan Interest Relief Program which is administered by the financial institution that holds your Ontario Student Loan. Application forms are available for printing.
• If you have a Canada Student Loan (CSL) that was negotiated before August 1, 2000, but do not hold a Canada-Ontario Integrated Student Loan, you must apply for interest relief through the Canada Student Loans Plan Interest Relief Program which is administered by the financial institution that holds your Canada Student Loan. Further information is available on the Canlearn website.
• If you have a Canada Student Loan that was negotiated from August 1, 2000 to July 31, 2001, but do not hold a Canada-Ontario Integrated Student Loan, you must apply for the Canada Student Loans Plan Interest Relief Program through the National Student Loans Service Centre (NSLSC). Further information is available on the Canlearn website.