After the Six-Month Option

At the end of the six-month option, you must repay your student debt.

Repaying your student debt

You have a business relationship with your financial institution. It provided the funds for your student loan, thus it is the creditor you must repay. You must therefore enter into a repayment agreement with the person in charge of your file with your financial institution.

If you are in financial difficulty, who should you notify?

If you cannot begin repaying your student debt or respect your repayment agreement due to your financial situation, you must first contact the person in charge of your file at your financial institution, who can best advise you on your options, taking into account your financial situation.

To obtain the telephone number of the person in charge of your file at your financial institution, click on the student loan centre related to that institution.

If necessary, you can apply to defer repayment of your student debt under the Deferred Payment Plan.

If you fail to repay your student debt

If you do not make the payments scheduled in your student loan repayment agreement, the Ministry will be required to repay your debt to your financial institution and your file will be transferred to the Collection Department. The consequences will be as follows:

  • You will no longer be eligible under the Deferred Payment Plan.
  • Your Québec income tax and Solidarity Tax Credit refunds will be applied to the repayment of your student debt, in accordance with section 31 of the Tax Administration Act.
  • To remain eligible for financial assistance under the Loans and Bursaries Program, you must first repay the full amount owing on your student debt or satisfy certain conditions of the Collection Department, such as the immediate repayment of a portion of your debt or the recovery of the debt from the amounts of financial assistance for which you would otherwise be eligible.