BC's Student Loan Freeze Just Thawed & You'll Have To Start Paying Again This Month
Many Millennials' bank-accounts will be emptier than usual again because Canadians' student loan repayments are due again this October.
To help out with financial difficulties that came with the COVID-19 pandemic, borrowers were enjoying a six-month payment and interest freeze between March 30 to September 30, 2020.
However, it's time to pay the piper, so if you have a student loan in B.C. you'll want to check its status soon.
Editor's Choice: Canadians Have To Pay Back Their Student Loans Again Now That The Freeze Is Over
October 1
Interest starts to accrue
Not only did you not have to pay for six months, but they also froze the federal portion of interest for you.
But now, that interest clock is ticking again.
Student Aid BC has a ton of helpful info to help you make the best choices moving forward.
But the bottom line is that if you owe money, you'll need to start making payments again.
On the National Student Loan Services Centre website, your account could be unavailable until Monday, October 5 while they make changes to accounts.