How do I confirm in-study payment-free (interest-free) status?
Once you have borrowed student loan funding, you are responsible for updating your 'in-study' status with NSLSC, to prevent entering repayment prematurely.
There are two ways of updating your status with NSLSC; both involve what is called 'confirmation of enrolment.'
Confirmation of enrolment is when the institution (SFU) responds to a government request to confirm whether a student is enrolled for either additional student financial assistance or for in-study, payment-free status requests. The confirmed enrolment status will only be valid for a certain duration of time, generally one term.
To request 'confirmation of enrolment,' either:
- Apply for a new student aid application for the term.
Upon successful assessment of the application, the government with ask SFU for confirmation of enrolment. OR - Apply for an interest-free application for the term.
Upon successful submission of the interest-free application, the government will ask SFU for confirmation of enrolment.
SFU will provide confirmation of enrolment to the province of application and/or NSLSC as long as you meet the enrolment criteria of the loan or in-study, payment-free application. For example, you'll need to be enrolled full-time, to receive confirmation of enrolment on a full-time aid application.
For a student aid application, confirmation of enrollment will:
- Release your student aid funding,
- Update your status to 'in-study,' preventing interest from accumulating and
- Update your study end date.
For an in-study, payment-free request, confirmation of enrolment will:
- Update your status to 'in-study,' preventing interest from accumulating and
- Update your study end date.
Where do I apply for in-study payment-free (interest-free) status?
For students studying full-time, with previous full-time student loans:
BC students should apply through their StudentAid BC Dashboard for the quickest, most efficient method of updating their status to 'in-study.'
Ontario students may use their OSAP Online Account to submit an interest-free application.
All other Out of Province students may use their National Student Loans Service Centre (NSLSC) Account to submit an interest-free application.
For students studying part-time, with previous part-time student loans:
All students may use their National Student Loans Service Centre (NSLSC) Account to submit an interest-free application, indicating 'part-time' as their enrolment.