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Loan repayment

You must begin repaying your Canada and Ontario student government loans six months after you graduate, withdraw or stop being a full-time student.

After you graduate or leave school, you must contact the National Student Loans Service Centre (NSLSC) and complete a consolidation agreement. This agreement will confirm:

  • The outstanding principal of all your student loans
  • The interest rate(s)
  • Your monthly payment amount

You can repay your Ontario Student Assistance Program (OSAP) loans as quickly as you like. The usual repayment period is nine-and-a-half years; however, you may take up to 15 years for repayment.

While shortening your repayment period will result in higher monthly payments, you will save a significant amount of interest.

Learn more about OSAP loan repayment.

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