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Student loans help you pay for tuition, fees, books and living expenses. Student loans are like any other loan: you eventually need to pay them back. You only submit one application, but you may receive loans from Alberta and Canada. This means you have two separate debts to repay.

Saskatchewan Student Loans are interest-free while in school and you don't have to start repaying them until six months after you complete your studies.

Federal student loans currently have interest rates ranging from 5.50 percent to 8.05 percent. Average private student loan interest rates, on the other hand, can range from around 4.10 percent to almost 15.70 percent. Federal student loan rates are the same for every borrower.

The average student loan debt in Canada is approximately $28,000. The total amount of student loan debt in Canada is more than $23.5billion. Women make up the majority of Canada student loan debt borrowers. 20-to-24-year-olds hold the most student loan debt.

Effective April 1st, 2023, the Government of Canada has permanently eliminated the accumulation of interest on all Canada Student Loans including loans currently being repaid. You continue to be responsible to pay any interest that may have accrued on your loan before April 1, 2023.

Questions about the collection and use of the personal information on the MSFAA- Saskatchewan, or subsequently collected from you, can be directed to the Government of Saskatchewan, call 1-800-597-8278 (toll-free in Canada/USA).

Student loans They are interest-free while you are in school full-time. There are two main categories of government student loan programs: The Canada Student Loans Program, (for full-time and part-time students) Provincial and Territorial Student Financial Assistance for full-time students.

For more information and all inquiries, please call our toll free number at 1-800-597-8278.