The 6 months after you leave full-time study is called your non-repayment period. During this period, the interest on your loan may accumulate, depending on your loan provider, but you are not required to make payments.
What to expect
Make sure your lenders have your current contact information. If your loan involves the National Student Loan Service Centre (NSLSC), which is used in all parts of Canada except Nunavut, Quebec, and the Northwest Territories, you will be emailed an invitation to log into your NSLSC secure account to find details on your repayment. This includes the amount you owe, when and how to make payments, and your rate of interest. If you don’t receive an email, contact them to ensure they have your latest email information. If you’re dealing with multiple lenders, it’s your responsibility to ensure you communicate and stay up to date with each one.
The non-repayment period is a good time to review your payment information and modify the terms if you need to. After repayment begins, you will also be able to contact your lender to discuss or modify your repayment terms.
You can still make payments during the non-repayment period, even though it is not required. This is a way to pay down your loan principal and reduce the amount of interest that you will be charged, if applicable. Contact your lender(s) to have a consolidation agreement sent to you and to arrange early payments.