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The Canada Student Loan Program (sometimes referred to as the National Student Loan) is administered by National Student Loan Service Centre [6] a part of Human Resources and Social (Skills) Development Canada (HRSDC). Students have the choice of opting for a fixed interest rate of prime interest rate, or a floating interest rate.
For the first 6 months after graduation, finishing studies, or no longer being a full-time college or university student: no loan payments are needed; interest is charged on the Ontario portion of the student loan; interest will not accrue on the Canada portion of the student loan [25] This is a 6-month grace period.
On January 11, 2013, Minister Diane Finley announced that a hard drive containing information of 583,000 student loan borrowers had been lost from a Canada Student Loans Program (CSLP)/HRSDC office in Gatineau, Quebec. [4] Borrowers who registered a loan between 2000 and 2006 were potentially affected.
Therefore, these two student loans are different in both application and definition. [17] Losses on student loans are extremely low, even when students default, in part because these loans cannot be discharged in bankruptcy unless repaying the loan would create an "undue hardship" for the student borrower and dependents of the borrower. [18]
This is the only site where borrowers can sign up for student loan forgiveness. The official launch of the application portal follows a beta test that offered borrowers periodic access over the ...
The Dominion-Provincial Student Loan Program was the first federally funded student loan program accessible to university students in Canada. Originally, only five provinces joined the initiative, but by 1944 all nine provinces were participating. Newfoundland joined the scheme in 1950, soon after joining confederation in 1949.
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