Notice: Information and plans for upcoming academic terms. Learn more.

Repaying Your Student Loan

Repayment (Consolidation)

You must start making payments on your Canada-Saskatchewan Integrated Student Loan six months after you have completed full-time study, whether you have graduated, transferred to part-time studies, withdrawn, or you are taking time off from your studies. This is called student loan consolidation.

Prior to your loan entering the repayment phase, the National Student Loans Service Centre will send you a consolidation letter and agreement. It outlines your repayment terms and your minimum monthly payment. You can negotiate your monthly payment amounts with the National Student Loans Service Centre, pay in lump sum or pay out your loan early.

Contact the National Student Loans Service Centre if you have not received your repayment information one month before your loans consolidate.


Even though you are not required to make a payment for six months after completing your studies, interest will accumulate during this time. Any unpaid interest accumulated during this six-month period will be capitalized and included in your principal balance at the time of consolidation. Your first loan payment is due:

  • On the last day of the seventh month following the date your period of study ends; OR
  • The end date you withdraw from studies

Interest on Canada Student Loans:

  • Fixed Interest Rate (Prime plus 5%); OR
  • Floating Interest Rate (Prime plus 2.5%)

Interest on Saskatchewan Student Loans:

  • Fixed Interest Rate (Prime plus 2.5 %): OR
  • Floating Interest Rate (Prime)
For more information visit the Student Financial Services Branch website.