Remission of your student loan debt

The Loan Remission Program allows you to reduce your student loan debt by 15% if you studied full-time and completed a program of study within the expected number of terms and years (prescribed deadline).

The 15% reduction applies to the loan you received for the program of study for which you are applying for a remission.

To be eligible, you must meet all of the following requirements, in accordance with your level of education.

For technical training at the college level:

• You must have received a bursary from the Loans and Bursaries Program for each award year (from September 1 to August 31 of the following year) during which you were studying in your program.
• You must have completed your program within the prescribed deadline.

For university level:

• You must have received a bursary from the Loans and Bursaries Program for each award year  during which you were studying in your program.
• You must have completed an undergraduate program within the prescribed deadline. In this case, you may qualify for loan remission on a loan obtained for pre-university college studies if the eligibility requirements are met.
• To receive loan remission for graduate and doctoral programs, you must have completed your program within the prescribed deadline and have received a loan remission for your undergraduate program.

The amount of the loan remission is paid to the financial institution that awarded your student loan and is used to repay part of your loan, barring exceptions. You will receive a tax slip which you must attach to your income declaration (tax return). This slip will be available in your Student Financial Assistance File. Revenu Québec does not consider the amount of loan remission to be taxable income.

You have 3 years after the end of your program of study to submit your application.

To do this, you will need the following information:

• your permanent code
• the name and the code of the program
• the name and code of the educational institution
• the start and end dates of the program of study

You will also need your last transcript indicating “Program Completed.”

You can submit your completed form and transcript in your Student Financial Assistance File.