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Canadian Student Loan Repayment Calculator

Model your exact repayment timeline with live rates, provincial differences, grace period, and RAP eligibility.

Live BoC Prime Rate All Provinces RAP Eligible Grace Period Included
Fetching Prime Rate...
Your Loans
Repayment Assistance (RAP)
Federal income-based repayment program
$0
Minimum: $0 Accelerated repayment
Total Balance
$0
Time to Payoff
—
Total Interest
$0
Interest Saved
$0
Payment Breakdown
Principal: 50% Interest: 50%
Amortization Schedule
Month Payment Interest Principal Balance

How this calculator works

  • 0% Federal Interest: Canada Student Loans currently accrue no interest.
  • Provincial Variations: Different provinces have different rates — BC and several others are 0%, while Ontario is Prime + 1%, Quebec is Prime + 0.5%, and Alberta, Saskatchewan, and NT follow Prime.
  • Live Prime Rate: The Bank of Canada overnight rate plus a 2.20% spread is fetched automatically from the BoC public API.
  • Grace Period: The 6-month post-graduation grace period is modelled, including interest accrual on any loans with variable rates.
  • RAP: The Repayment Assistance Plan is modelled in two stages — Stage 1 (months 1–60) where the government covers remaining interest, and Stage 2 (60+ months) where the government contributes to principal as well.

Results are estimates based on inputs provided. This tool does not constitute financial advice. RAP eligibility and payment amounts are determined by the National Student Loans Service Centre (NSLSC). Always confirm your loan details with your lender.