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Commonly Asked Student Loan Questions
List of Questions
 

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Question #1  
What happens to my loan while I am still in school?

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Question #2  
What happens to my loan when I am finished school?

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Question #3  
Who pays the interest during my 6-month grace period?

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Question #4  
Are my Federal and Provincial loans combined when I make my monthly payments?

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Question #5  
What is a Guaranteed student loan?

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Question #6  
What is a risk shared student loan?

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Question #7  
Which loans are risk shared and which are guaranteed?

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Question #8  
What does "consolidation" mean?

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Question #9  
What does "repayment" mean?

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Question#10  
Can I "consolidate" early?

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Question#11  
Can I make payments on my loan while I am still a student?

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Question#12  
How are my monthly payments determined?

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Question#13  
What is an "amortization period"?

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Question#14  
What is the interest rate on my loan?

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Question#15  
Do I qualify for a government grant?

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Question#16  
What if I can't make my loan payments?

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Question#17  
What is "Interest Relief"?

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Question#18  
How do I apply for "Interest Relief"?

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Question#19  
How do I qualify for "Interest Relief"?

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Question#20  
What happens if I don't qualify for Interest Relief and I still can't make my payments?

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Question#21  
What is a "Revision of Terms"?

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Question#22  
Are there different types of "Revision of Terms"?

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Question#23  
What if I don't' qualify for Interest Relief or a Revision of Terms and I still can't make ...

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Question#24  
What is a "Confirmation of Enrolment" form?

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Question#25  
Where do I get a Confirmation of enrolment form?

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Question#26  
What is "Loan Remission"?

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Question#27  
What provinces offer Loan Remission?

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Question#28  
What is the "Canadian Millennium Scholarship Fund?

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Question#29  
What is the "Canada Study Grant"?

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Question#30  
Can I get anything back in my Income Tax from the student loans I pay?

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Question#31  
What is "Debt Reduction"?

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Question#32  
How do I pre-qualify for Debt Reduction?

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Question#33  
What is the "Education Credit"?

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Question#34  
What is the "Child Care Expense Deduction"?

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Question#35  
What is the "Canada Education Saving Grant (RESP)?

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Question#36  
What happens if I claim bankruptcy?

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Question#37  
Is there any more Interest Relief time I can use after I have used the 30 months I ...

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Question#38  
What is the "guarantor" program?

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Question#39  
How does a loan get "claimed"?

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Question#40  
What happens if my loan gets claimed?

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Question#41  
What is a "credit rating"?

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Question#42  
Where do I get a copy of my "credit bureau report?

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Question#43  
What is a "Nil/Low Income" letter?

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Question#44  
What is a "third party" letter?

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Question#45  
What kind of proof of income do I provide if I am self-employed and applying for the interest ...

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Question#46  
What is a Student Loan Agreement form?

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Question#47  
What is "bucket Interest"?

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Question#48  
What does "capitalize" mean?

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Question#49  
What are "combo loans"?

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Question#50  
Can I pay off the provincial portion of my combo loan first?

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Question#51  
) How do they charge the interest on the combo loans?

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Question#52  
How are my grants and scholarships applied to my combo loans?

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Question#53  
What is a "restriction"?

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Question#54  
Why does the government put a "restriction" on a student?

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Question#55  
What are the Interest Rates on the government student loans?

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Question#56  
Is there anyway to lower the interest rate on my student loan?

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Question#57  
Which is more common fixed or floating rates of Interest?

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Question#58  
Who looks after Federal loans issued after August of 2000?

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Question#59  
Why did the Federal loans change in August of 2000?

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Question#60  
How does the change that happened to Federal loans in 2000 affect me?

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Question#61  
How can I tell if my school is considered a public or private Institution?

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Question#62  
I have just received a new student loan certificate where do I have to take it so I ...

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Question#63  
Who gets what copies of my new student loan document for the Canada/Ontario Integrated loan?

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Question#64  
Who gets what copies of my new Federal student loan?

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Question#65  
Who gets what copies of my Canada/Saskatchewan loan?

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Question#66  
Who gets what copies of my Newfoundland loan/student loan agreement?

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Question#67  
Who gets what copies of my New Brunswick loan?

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Question#68  
Who gets what copies of my Alberta student loan?

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Question#69  
What is a "term"?

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Question#70  
Can the term be increased on the combo loans?

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Question#71  
When will I get my money once I have dropped of my loan documents?

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Question#72  
Why have I received a letter talking about student loan payments while I am still in school?

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Question#73  
What does PSED mean?

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Question#74  
What forms can I send to update my PSED?

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Question#75  
What happens if I send my confirmation of enrolment form late?

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Question#76  
If I am a Part time student do I have to make payments?

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Question#77  
What if I want my parents or someone else to look after my student loans for me? ...

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Question#78  
Can I get Interest Relief if I am in a different country?

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Question#79  
Can I pay off my student loan at anytime?

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Question#80  
Can I consolidate all my student loan payments into one monthly payment?

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Question#81  
How do I apply for Interest Relief if I have a Federal loan with a bank and the ...

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Question#82  
Do I have to pay my tuition from the money I have received from my student loan?

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Question#83  
What happens if I send my confirmation of enrolment form and it doesn't get received? How can ...

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Question#84  
What happens if I get reported to the Credit Bureau because my Interest Relief application got delayed?

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Question#85  
How long does "bad" information stay on my Credit report?

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Question#86  
What is a "recall"?

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Question#87  
How can I get my loan recalled once it has been claimed?

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Question#88  
Are there any type of programs for people who have a disability?

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Question#89  
Where do I call if I have a Federal Loan issued after August of 2000?

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Question#90  
Where do I call for B.C student loans?

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Question#91  
Where can I call to find out about getting a new student loan application form?

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Question#92  
Where do I call to find out about my Alberta Student loan?

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Question#93  
What is my "PIN" number and what is it used for?

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Question#94  
What if I want to pay off my loan before I have received my loan remission? What happens ...

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Question#95  
If I do a revision of terms to increase my loan payment can I lower my payment amount ...

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Question#96  
If I am on Interest only payments will my monthly payments increase once the six months is over?

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Question#97  
Is there Interest during my Grace Period? Who pays for it?

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Question#98  
Should I pay off the Grace Period Interest before my loan consolidates?

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Question#99  
What happens if I do not pay off the grace period interest before my loan consolidates?

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Question100  
How come I don't get monthly statements? How can I get a statement of my account?

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Question101  
How do I request a Paid in full letter?

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