If you qualify for the B.C. Loan Forgiveness Program, the Province of British Columbia will forgive the outstanding B.C. portion of your Canada-B.C. integrated student loan debt at a rate of up to a maximum of 20% per year for up to five years.
Secondly, do student loans get forgiven after 10 years Canada?
Repayment Assistance Program
After 15 years, any remaining student loan debt is forgiven. For students with disabilities, any remaining debt is forgiven after 10 years.
- be in repayment status on the loan,
- be in good standing on the loan,
- not be restricted from Alberta RAP due to failing to make previous RAP Affordable Payments,
- not have had the loan included in a bankruptcy,
Also, how do you pay off student loans in BC?
You will repay your student loans through the National Student Loans Service Centre (NSLSC). Around 45 days before you enter repayment, the NSLSC will send you a consolidation agreement combining all your loans you received after August 1, 2000 so you can make one payment.
How long can you be on repayment assistance Canada?
This stage of RAP is available for up to 60 months or until you are 10 years out of school, whichever comes first. During Interest Relief, you make the affordable monthly payment.
What is the BC Access Grant?
What is the B.C. Access Grant? Beginning in August 2020, the B.C. Access Grant will help more than 40,000 low- and middle-income students access, afford and complete public post-secondary education and training each year in B.C. The grant will be needs-based, up-front and available to eligible students each year.
When should you enter into a repayment assistance plan?
You can apply anytime during repayment to receive assistance for up to 6 months. If you still need help after 6 months, you must re-apply.