The 6 month period immediately following the end of your full time studies. During this time, interest will be charged on the Ontario portion of your student loan, however you will not be obligated to make payments. This interest will be added to your loan principal (the balance of money that you borrow).

The first day of the seventh month following the month you ceased to be a full time student. On this day, all of your outstanding loans are consolidated.

• Example 1: Johnny finished being a full time student at the end of April, when he graduated. His consolidation date is November 1.
• Example 2: Sally withdrew from full time studies in October for medical reasons. Her consolidation date is May 1.

A document mailed to you, 6-8 weeks before the end of your grace period, by the National Student Loan Service Centre which outlines;

• Your total loan amount
• Your interest rate
• Your repayment term (how long it will take you to repay your loan)
• Your monthly payment
• Your first payment date

Your first payment will be due on the last day of the month marking your “Consolidation Date”

• Example: Mike’s Consolidation Date is November 1; his first payment is due November 30.