How to proceed

When the time comes to begin repaying your student debt, you must conclude a repayment agreement with your financial institution. You will be sent a reminder in the form of a repayment notice or a document containing the repayment terms.

If you wish to modify the repayment terms, if you wish to conclude an agreement before your financial institution contacts you, or if you need additional information regarding your agreement, you must contact the student loan centre of your financial institution and talk to an officer to agree on the amount of the monthly payment (principal and interest), the frequency of payments and the amortization period of your debt (number of years in which you will repay your debt). You will assume responsibility for payment of the principal and interest accrued at the agreed rate.

Outstanding debt

Don’t forget that you remain liable for your loan even if the Ministère has guaranteed it. If you fail to repay your financial institution, the Ministère will honour its guarantee, becoming your creditor to whom you need to repay the loan. Once that happens, your provincial tax refunds and solidarity tax credit payments will be directly applied to your loan balance.

In addition, you will need to make a new repayment agreement with the person in charge of your file at the Collection Department of Aide financière aux études.

Finally, if you do not abide by the agreement, several mechanisms can be used to collect the amount you owe on your student loans. These include seizing your salary, furniture and/or property. In addition, if you resume your studies, you will no longer be entitled to financial assistance, barring an agreement with Aide financière aux études.