Help With Repaying Your Loans
Student debt in BC is at an all-time high.
It is no wonder that students and our families struggle at times to meet the demands forced on us by student loan debt.
The following is a description of the programs that are available to help with student loan repayment in BC.
Note: The BC government has combined its students loan program with the Canada Student Loans Program run by the Government of Canada. There are many changes to the way BC student loans are now administered. The Repayment Assistance Program replaced BC Interest Relief and for several assistance programs, you will need to apply through www.canlearn.ca. Those links are also provided below.
Repayment Assistance Program (RAP)
BC Loan Reduction Program
(no application, assessed automatically)
BC Loan Forgiveness Program
Reducing Your Monthly Payment by Extending Payment Period
Aka "Extended Amortization" or "Revision of Terms"
(no application form for BC, call the National Student Loan Service Centre)
*Note: this should only be used if you are ineligible for the programs described above that actually reduce your principle or your interest. Extending your payment period only reduces the monthly payment--but it also means you will pay more interest in the long run.
Permanent Disability Benefit (federal)
Description and application instructions
Repayment assistance plan for borrowers with a permanent disability (federal)
Description and application instructions
Vist this page for a complete list of StudentAid BC forms and applications.
