tell me why i'm waiting for someone with rap

Contact us to discuss your optionsĬontact the National Student Loans Service Centre (NSLSC) to discuss your options. Please contact your province or territory for more information.

You do not need to make payments on existing student loans if you return to school.Ĭertain restrictions may still apply to your provincial or territorial loan. You will need to pay your unpaid loans back before you can apply for more. Once the federal government has paid towards your principal payment while you are on RAP, you cannot receive more student grants or loans. The maximum amount of time a borrower can be in repayment after leaving school in most cases is: If you are on RAP-D, the government will pay down both the principal and any interest that your reduced monthly payments do not cover.Īs long as you stay eligible for repayment assistance, the balance of your loan will continue to be paid down until it is paid in full. start to pay down both the principal and any remaining interest after 60 months of RAP or 10 years after you finish school.pay any interest owing on the federal part of your loan that your reduced payment does not cover, and.If approved for RAP, the Government of Canada will: You must re-apply every 6 months to stay eligible.

You can apply for repayment assistance as soon as you start to repay your student loans and anytime while in repayment. Repayment Assistance Plan for Borrowers with Disabilities (RAP-D)ĭepending on your income, you may qualify for reduced payments or no payments at all.If you are having financial difficulty and cannot make your payments, the Government of Canada can help you pay towards your loan through these plans:

Tell me why i'm waiting for someone with rap