Students loans and interest

Keep your student loans interest free

If you applied for a previous loan, you must notify your lender that you have returned to part-time or full-time study.

If you do not notify your lenders, your loans will begin to build interest and you will enter repayment.

Notifying your lenders

Notify your lenders as soon as possible for each new eligible study period.

To find out if you are a part-time or full-time student and to see if you are registered in an eligible course load for your loans, check the Course Load Guide.

Your lenders will automatically be notified of your return to study: 

  • If you applied to the same province, lender, or loan program as last year
  • When you receive or pay your fees with a new full-time or part-time student loan
  • If you receive your funding before you enter repayment

Canadian students with full-time loans

How to notify your lenders

The earliest you can update your full-time status for the new school year is around 1 month before classes start.

Students from BC

Apply online through StudentAid BC. This application will notify your federal, provincial, and pre-2000 lenders (e.g., banks), if applicable.

Students from Alberta

If you have both Alberta and Canada student loans, or only Canada student loans (including previously issued part-time Canada loans):

If you only have Alberta student loans, complete the Confirmation of Registration (Form B)

Students from Ontario

Students are no longer able to verbally request Interest-Free Status. Students must apply for interest free status through the Ontario Student Assistance Program (OSAP).

Apply for Continuation of Interest-Free Status:

  1. Log into your Account on your OSAP portal
  2. Select “Apply for Continuation of Interest-Free Status (CIFS)”
  3. Complete the online form

If you have any questions please contact your Enrolment Services Advisor. Find your advisor by logging into your Student Services Centre (SSC) and selecting “UBC Contacts” under Personal Info

If you do not have an advisor, submit your question through the online form.

Students from Manitoba

  1. Download and request a Schedule 2 form. The form will be completed by Enrolment Services.
  2. Send your completed form to both the National Student Loans Service Centre (NSLC).
  3. A completed Confirmation of Return to School form will need to be submitted to Manitoba Student Aid.

Students from Quebec

Email your advisor for an interest-free request and include:

  • Your full name
  • Student number
  • Social insurance number
  • The permanent code assigned by the Ministère
  • The interest period for which you are requesting interest-free status

Find your advisor by logging into your Student Services Centre (SSC) and selecting “UBC Contacts” under Personal Info

If you do not have an advisor, submit your question through the online form.

Students from other provinces

Submit a request for interest-free status through the National Student Loans Service Centre.

Repaying your full-time student loans

You will automatically enter repayment six months after your full-time study program has ended if you are not returning to school full-time, or if you are returning to part-time study and were previously a full-time student.

Canadian students with part-time loans

How to notify your lenders

If you are not taking out a new part-time loan

Notify your lenders by downloading and requesting a Schedule 2 form to be completed by Enrolment Services.

This form indicates your return to either full-time or part-time study so that you will not enter repayment for your previous part-time loans. 

If you are taking out a new part-time loan

Register in an eligible course load for your part-time studies and pay your fees with your new loan before you enter repayment.

US students with loans

If you applied for a previous loan, you must notify your lender that you have returned to part-time or full-time study.

If you do not notify your lenders, your loans will begin to build interest and you will enter repayment.

How to notify your lender

UBC can inform your lender(s) that you've returned to school through the National Student Loan Data System (NSLDS).

  • Email usloans.inquiry@ubc.ca to request that Enrolment Services submit your current enrolment information to your US lenders.

  • Include your US Social Security Number (SSN) in the email. Your SSN is needed to add you to the NSLDS roster. If you prefer not to email your SSN, you can make your request to Enrolment Services by phone.

Once this update is submitted, you will be on a report that UBC completes once every 60 days for the NSLDS. You will not need to manually request an enrolment update again, unless you cease to be a full-time student at UBC for a semester or more.

In-school deferment eligibility

If you are registered in at least 6.0 credits per term, you will be eligible for In-School Deferment for your current study period.

Depending on the types of US loans you have, you may still build interest on your loans even if you are eligible for deferment.

If you have questions

Please contact your Enrolment Services Advisor directly. If you do not have an assigned advisor, they are still available to help.