Repayment Pause on Canada Student Loans and Alberta Student Loans

o The Federal Government has announced that it will pause the repayment of Canada Student Loans and Canada Apprentice Loans until September 30, 2020 with no accrual of interest. This will be effective on March 30, 2020. This will include pre-authorized debits.

o No payments will be required and interest will not accrue during this time.

o Students who are currently studying can continue to apply for Canada Student loans.

o The Alberta Government has also announced a similar measure – Alberta Student Loan repayments will be paused for 6 months beginning March 30, 2020 with no accrual of interest. And even if borrowers choose to continue their payments, this will not affect their eligibility to receive this benefit.

o Students do not need to apply for the repayment pause.

o For more information: Canada Student Loan, Alberta Student Loan
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