Student Loan Debt

Student Loan Debt

Should you default on your loan, the National Student Loans Service Centre (NSLSC), your financial institution and the Government of Canada or your province will take steps to recover the debt, which may include reporting you to a credit agency, using a private collection company, and/or taking legal action 1.

It is therefore very important to contact the NSLSC and/or the financial institution that holds your loans immediately following the end of your studies to negotiate your repayment schedule and avoid entering into default 2.

For more information on bankruptcy and student loans, please visit the Office of the Superintendent of Bankruptcy website.

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1 and 2 National Student Loans Service Centre