Government Student Loan Repayment
For BC Student Loans (loans received August 1, 2000 or later) interest begins accumulating on both the Canada Student Loan portion and the British Columbia Student Loan portion on the first day of the month following your last day of studies (May 1, 2012). Thus, during the six-month ”grace period” interest accumulates.
Repayment – both principal and interest – is scheduled to begin on the first day of the seventh month after graduation (November 2012).
• For all government student loans received prior to August 1, 2000 students must contact the financial institutions holding their loans to set up terms of repayment.
• For all BC Student Loans received after August 1, 2000 students must contact the BC Student Loan Service Bureau to set up terms of repayment.
• For all Canada Student Loans received after August 1, 2000 students must contact the National Student Loans Service Centre to set up terms of repayment.
• Please ensure an updated mailing address is provided to all lenders so that important repayment information can be mailed.
Student Loan Repayment Information Session
Each Spring, a student loan repayment information session will be offered to graduating students. Attending this session hosted by the Student Financial Assistance Officer, will provide you with valuable information about some things to consider when starting to repay your student debt.
Professional Student Line of Credit Repayment
Many banks offer professional student lines of credit that require interest payments only while in the MD undergraduate program and residency. Please check your loan agreement terms with your bank to be certain of repayment policies and procedures.
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