Student loan interest

Keep your student loan interest free

If you had a previous loan, you must notify your lender that you have returned to part-time or full-time study to keep your student loan interest free.

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 if you are registered in an eligible course load for your loans, visit the Course Load Guide.

Your lenders will automatically be notified of your return to study only if one of the following happens: 

  • You submit an interest-free request to the same province, lender, or loan program as last year.
  • You apply for a new student loan and receive funding before you enter repayment from the same province, lender, or loan program as last year.

Canadian students with full-time loans

Complete the following steps for your province or territory to notify your lenders.

Students from BC

Apply for interest-free status 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, visit National Student Loans Service Centre's (NSLSC) online services.

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

Students from Ontario

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

To apply for Continuation of Interest-Free Status, follow these steps:

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

Students from Manitoba

To request interest-free status, follow these steps:

  1. Log into your National Student Loans Service Centre (NSLSC) account.
  2. Submit an interest-free request.
  3. Submit a completed Confirmation of Return to School form (pdf) to Manitoba Student Aid.

Students from Quebec

Email your Enrolment Services Advisor to complete a Form 2006 for an interest-free request.

​​​​​​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.

Canadian students with part-time loans

How to notify your lenders

There are specific instructions to notify your lender depending on the type of your part-time loan.

  • If you are not taking out a new part-time loan
    Notify your lenders by submitting a request for interest-free status through the National Student Loans Service Centre.
  • If you are taking out a new part-time loan
    Register in an eligible course load for your part-time studies and apply for a new loan and receive funding 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 accrue interest and you will enter repayment.

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

You'll need to 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 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

If you're an undergraduate student, please contact your Enrolment Services Advisor directly. To find your advisor’s contact information, log into your Student Service Centre (SSC) and select “UBC Contacts” under Personal Info.

Graduate, postgraduate, and all other students can contact an Enrolment Services Advisor by calling 604 822 9836 or submitting a question through the online form.