How to Make Payments

You will receive a notice in the mail that your loan repayments are about to begin. If you haven’t received anything by mail, make sure you contact your loan provider(s) before your 6-month non-repayment period is over. You’ll want to review all aspects of your loan(s) and finalize details concerning:

  • how much you owe;
  • the interest rate that will be applied to your loan(s);
  • the bank account you will use to repay the loan;
  • the monthly amount that will be withdrawn from your bank account;
  • the date it will be withdrawn (if you're set up for direct withdrawals);
  • how to send monthly payments to your loan provider(s) (normally via cheque if you're not set up for direct withdrawals); and
  • how long it will take to pay back your loan(s).

Once you agree with the repayment schedule given to you by your loan provider, sign and return it. Payments will be withdrawn from your account on file even if they do not receive your signature.

Returning the repayment schedule gives you the opportunity to:

At the end of the 6 month non-repayment period, start making monthly payments, either through direct withdrawals, by cheque, online banking or telephone banking.