1012 - Declaration of Change 2023-2024 Amend your loans and bursaries application or request reimbur-2025

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If you qualify, the Deferred Payment Plan allows you to repay your student loan in ance with your means, whether the loan was granted under the Loans and Bursaries Program or the Loans Program for Part-Time Studies. Each application covers a maximum of six months.
Private education loans are not eligible for consolidation. Direct PLUS Loans received by parents to help pay for a dependent students education cannot be consolidated together with federal student loans that the student received. Learn what to do if youre not sure what kind of loan(s) you have.
Quebec Loan Remission Program The Quebec government forgives 15% of anyones student loan debt.
Are student loans tax deductible in Canada? Your student loan is not tax-deductible, but you can claim any interest youve paid on your loan in the preceding five years as a non-refundable tax credit. As an example, lets say Fahad repaid his student loan which included $300 of interest in 2024.
In Canada, student loans can be discharged through bankruptcy if: It has been seven or more years since you were last a student. The loans are from government student loan programs (federal or provincial)
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There are two forms of student loan forgiveness in Canada, including potential forgiveness after 10 years of enrollment in the Repayment Assistance Plan (RAP) or the option to include student loans in a consumer proposal once they are 7 years old from your last date of study.

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