Repayment Assisstance Plan (RAP) Issues

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Interest relief on OSAP

Printed From: CanadaStudentDebt.ca
Category: Government Program Problems
Forum Name: Repayment Assisstance Plan (RAP) Issues
Forum Description: Rules, regulations and problems (Formerly Interest Relief and Debt Reduction)
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=3598
Printed Date: 27/March/2026 at 4:20am
Software Version: Web Wiz Forums 12.07 - https://www.webwizforums.com

Topic: Interest relief on OSAP

Posted By: osapgirl
Subject: Interest relief on OSAP
Date Posted: 05/July/2006 at 9:20pm

Hi, I'm new to this board, looks very helpful so writing this.

I currently have a osap loan of $8000

I have not graduated my school yet but will like to take some time off (do to mental illness) and will like to apply for an interest relief. I was wondering how long you can have this interest relief period for? Thanks

Replies:

Posted By: Debt_swimming
Date Posted: 03/April/2007 at 5:33pm

Hi,

If you apply for interest relief and are approved, the interest relief period lasts 6 months. You can have up to 30 months of interest relief and at the end of the 30 months if you still aren't in a position to pay your loans, you may apply for a special interest relief period which I believe gives you up to another 24 months.

If you are/were currently in school, you won't be able to apply for interest relief until you consolidate your loans. Generally it is 6 months after you graduate/leave school that you will receive this info. After you consolidate you may immediately apply for interest relief if you qualify based on income, family size etc.

hope this helps.

Dave

Posted By: administrator
Date Posted: 03/April/2007 at 7:35pm

Remember that IR relief is only available if your loans are not in default.... make sure you keep track of all conversations etc with the NSLC.

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