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Simple Ways to Manage Your Canada Student Loan

Ways to Manage Your Student Loans

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While tackling a student loan may feel like climbing a mountain, there are ways to manage these loans that make repayment and easier process to manage.

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Page 1: Ways to Manage Your Student Loans

Simple Ways to Manage Your Canada Student Loan

Page 2: Ways to Manage Your Student Loans

Paying back money you borrowed to finance your education may seem like a huge task.

Large balances can be intimidating, but there are several simple ways to manage you student loan debt

and still enjoy life as a college graduate.

Page 3: Ways to Manage Your Student Loans

Get an Early Start

• Making payments before you graduate is a great way to save on interest charges.

• Any early payments you make will be applied to principal.

• Be sure your loan does not have any pre-payment clauses or penalties.

Page 4: Ways to Manage Your Student Loans

Increase Your Monthly Payment

• The amount you are required to pay each month is your minimum monthly payment.

• Adding even a few dollars to your minimum payment each month will save you a lot of money on interest.

Page 5: Ways to Manage Your Student Loans

Take Advantage of Tax Credits

• File for a yearly tax credit once you begin repaying your student loans.

• Students may also receive tax credits while attending school.

Page 6: Ways to Manage Your Student Loans

Help for Hard Times

• Many loans qualify for payment assistance programs that include reducing your monthly payment or putting them on hold.

• Contact the National Student Loans Service Centre for federal loans, and the Student Aid offices for provincial loans.

Page 7: Ways to Manage Your Student Loans

Don’t let yourself be burdened with hefty student loans as a college graduate. You can manage your Canada

student loan with a bit of planning and good money management skills.

Handling your repayment wisely will help you earn a good credit score and help pay off your loan quickly.

Page 8: Ways to Manage Your Student Loans

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Call us now to schedule your free consultation.