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Student Banking

Paying For Your Studies


Understanding your Responsibilities

Once you have received a government student loan, it is your responsibility to:

  • understand and respect the terms and conditions spelled out in detail in your loan agreement
  • tell your lender and the student financial assistance officer at your school or provincial student assistance office of any changes in your situation such as a change in name or marital status, a change in your status as a full- or part-time student, or a change of address
  • provide your lender with proof of enrollment for each study period that you are enrolled, even if you are not applying for a new loan
  • keep track of the amounts you borrow each year
  • see your lender and complete a Consolidated Student Loan Agreement within six months of ceasing to be a student
  • repay your student loan. If you are a full-time student, you will be required to start repayment of your student loan on the last day of the seventh month after ceasing to be a student. However, you can start repayment earlier if you are in a position to do so. If you are a part-time student, you are required to make interest payments even while enrolled, and start full repayment on the last day of the seventh month after ceasing to be a student
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11/19/2009 12:04:31