What is student loan forgiveness in Canada?
Canada Student Loan forgiveness applies only to the federal portion of a student loan. It does not apply to the provincial or territorial portion of a student loan. Note: You may be eligible for loan forgiveness on your Saskatchewan student loans.
How long can a student loan be forgiven?
Under the new rule, loan balances will be forgiven after 10 years of payments, instead of the current 20 years under many income-driven repayment plans, for borrowers with original loan balances of $12,000 or less, according to a Department of Education statement.
What is the Quebec loan forgiveness program?
Under the Quebec Loan Forgiveness Program, you can get up to 15% of your provincial student loan forgiven if you finish your studies within a specified period or you’ve received a bursary from the Loans and Bursaries Program for each year of your studies. 24 months for an undergraduate university program, over a 3-year period