Students with previous loans

UBC Okanagan students with previous Canadian loans.

Your lenders will automatically be notified of your return to study if:

  • You receive a new full-time student loan
  • You will receive your funding before you enter repayment
  • You applied to the same province, lender, or loan program as last year

You will automatically enter repayment six months after your full-time study program has ended if you:

  • Are not returning to school full-time, or
  • Are returning to part-time study and previously a full-time student

To find out if you are a part-time or full-time student, check course load requirements.

Canadian students with full-time loans

Students with previous Canadian and provincial loans must notify their lenders that they have returned to full-time study. If you do not notify your lenders, your loans will begin to accrue interest and you will enter repayment.

Once you notify your lender that you have returned to full-time study, you will be considered for interest-free status. During an approved study period you will not accrue interest and you are not required to make payments.

Notifying your lenders

Notify your lenders as soon as possible for each new eligible study period.

The earliest you can update your full-time status for the new school year is approximately one month before classes start.

How to notify your lenders

Apply online through StudentAidBC. If applicable, this application will notify your federal, provincial, and pre-2000 lenders.

Ontario Student Aid (OSAP) has changed the process of applying for Continuation of Interest-Free Status. This is effective as of May 1, 2017. Students are no longer able to verbally request Interest-Free Status. Students must apply forInterest-Free Status through their OSAP on-line portal.

Apply for Continuation of Interest-Free Status:

  1. Log into your Account on your OSAP portal
  2. Select “Apply for Continuation of Interest-Free Status (CIFS)”
  3. Complete the on-line form

If you have any questions please contact an Academic Advisor.

Request a paper Schedule 2 form from an Academic Advisor. Send your completed form to both the National Student Loans Service Centre and Manitoba Student Aid.

Email your advisor for an interest-free request and include:

  • Your full name
  • Student number
  • Social insurance number
  • The permanent code assigned by the Ministère
  • The interest period for which you are requesting interest-free status

Contact an Academic Advisor.

Submit a request for interest-free status through the National Student Loans Service Centre.

Canadian students with part-time loans

Students with previous part-time loans must notify their lender that they have returned to either part-time or full-time study. If you do not notify your lender, you will enter repayment.

Notify your lenders

If you are not taking out a new student loan:

  • Request a paper Schedule 2 form from an Academic Advisor.
  • This form indicates your return to either full-time or part-time study so that you will not enter repayment for your previous part-time loans.

If you are taking out a new part-time or full-time student loan:

  • Register in an eligible course load
  • Cash your new loan before you enter repayment

Your lender will automatically be notified of your return to study when you cash your part-time or full-time funding, and you will not enter repayment for your previous part-time loans.

U.S. students with previous loans

Students with previous U.S. loans must notify their lender that they have returned to school. If you do not notify your lender, your loans will begin to accrue interest and you will enter repayment.

Notify your lender

UBC can inform your lender(s) that you’ve returned to school through the National Student Loan Data System (NSLDS).

Once we submit this update, you will be on a report that UBC completes once every 60 days for the National Student Loan Data System. You will not need to manually request an enrolment update again, unless you cease to be a full-time student at UBC for a semester or more.

In-school deferment eligibility

If you are registered in at least a half-time course load, you will be eligible for In-School Deferment for your current study period.

To determine if you are studying in at least a half-time course load, consult the course load requirements page or contact an Academic Advisor.