Canada Student Loans repayment calculator
Enter your federal loan balance, the repayment term and, if you have one, your provincial balance and interest rate. You get the monthly payment and total cost, plus a Repayment Assistance Plan check.
Free · no signup Runs in your browser
Working with a different rate? Edit the rates this calculator uses
These are the figures we verified on 2026-10-23. Change them to work with a historic period, or with a new rate that has been announced but which we have not published yet.
How much is my Canada Student Loan payment?
The federal part of a Canada Student Loan has charged no interest since April 1, 2023, so the payment is simply the balance divided by the number of months. A $18,000 balance over the standard 114-month term is $157.89 a month. A provincial part, if you have one, may still carry interest. If your family income is below the Repayment Assistance Plan threshold ($3,866 a month for one person) you may not need to make payments for 6 months.
Why we built this calculator
Most student loan calculators assume interest on the whole balance. Since April 1, 2023 the federal part of a Canada Student Loan has no interest, which changes the arithmetic: the payment is the balance divided by the months, and paying faster saves no interest on that part. A provincial part can still charge interest, and in Ontario and Saskatchewan it does.
This calculator handles the two parts separately, and checks your family income against the Repayment Assistance Plan threshold, which can reduce or pause payments. For your wider budget see the income tax calculator.
It runs in your browser. Nothing you enter is sent anywhere, and there is no sign-up.
When to use it
- Planning your budget before repayment begins
- Seeing what a longer term does to the payment
- Checking whether you are below the Repayment Assistance Plan threshold
- Separating the federal part from a provincial part with interest
Mistakes it helps you avoid
- Charging interest on the federal part, which has none.
- Forgetting that a provincial part may carry interest.
- Assuming Repayment Assistance Plan payments are automatic. You apply, and re-apply every 6 months.
- Starting payments too early: repayment begins six months after you leave school.
How the payment is worked out
The federal part is the balance divided by the months. A provincial part with interest uses the usual loan payment formula.
federal payment = federal balance ÷ months (0% interest)provincial payment = P × r ÷ (1 − (1 + r) ^ −n) r = annual rate ÷ 12, n = monthsor P ÷ n when the rate is 0%total monthly = federal payment + provincial paymentstandard term = 114 months for balances over $6,986.00; shorter for smaller oneslongest term = 174 monthsRAP payment = at most 10% of household income
The term is an input because the National Student Loans Service Centre assigns it from your balance, and its glossary gives only the two ends: 18 months for $0.01 to $1,365.99 and 114 months for over $6,986.00, with customizing allowed up to 174 months. The Repayment Assistance Plan page publishes monthly family income thresholds by family size and the backgrounder caps payments at 10% of household income; it does not publish how the payment is set in between, so we show only the threshold test and the cap.
Worked example: $18,000 federal balance, standard term
You owe $18,000 in federal Canada Student Loans and repay over the standard 114 months. Your family of one has $3,200 of gross monthly income.
- Federal payment: $18,000 ÷ 114$157.89
- Total paid over 114 months$18,000.00
- RAP threshold for a family of one$3,866 a month
- Your income of $3,200below the threshold
- Most a RAP payment can be: 10% of income$320.00
The standard payment is $157.89 a month. At $3,200 of monthly income you are below the RAP threshold, so you may not need to pay for 6 months if you apply.
The total paid equals the balance, because the federal part has no interest.
Repayment Assistance Plan thresholds, 2026
If your family's gross monthly income is below the threshold for your family size, you may not need to make payments for 6 months. Above it you may still qualify for reduced payments. Provincial thresholds may differ.
| Family size | Monthly | Per year |
|---|---|---|
| 1 | $3,866 | $46,392 |
| 2 | $4,535 | $54,420 |
| 3 | $5,556 | $66,672 |
| 4 | $6,412 | $76,944 |
| 5 | $7,170 | $86,040 |
| 6 | $7,854 | $94,248 |
| 7 or more | $8,483 | $101,796 |
What is not covered
Private bank loans and loans from other lenders work differently. Interest on a provincial part depends on the province: the National Student Loans Service Centre lists Ontario at prime plus 1.0% and Saskatchewan at prime or fixed at prime plus 2.5%, and no interest on the provincial part for British Columbia, New Brunswick, Newfoundland and Labrador and Manitoba integrated loans. Enter the rate from your own statement.
Terms on this page
- Repayment Assistance Plan
- A plan that can reduce or pause payments based on family income and size.
- Non-repayment period
- The six months after you finish your studies before repayment begins.
What has changed, and when
Rates on this page have not always been what they are today. If you are working on an earlier period, use the figure that applied at the time rather than the current one.
- April 1, 2023 Interest on Canada Student Loans was permanently eliminated.
- Nov 1, 2022 Repayment Assistance Plan payments were capped at 10% of household income, down from 20%.
Common questions
Do Canada Student Loans charge interest?
Not on the federal part. Interest on Canada Student Loans was permanently eliminated from April 1, 2023. A provincial part of your loan may still charge interest.
How long do I have to repay?
The standard term is 114 months for balances over $6,986, shorter for smaller balances, and can be extended to a maximum of 174 months.
When do I start repaying?
Repayment starts after a six-month non-repayment period that begins when you finish your studies.
What is the Repayment Assistance Plan?
A plan that can reduce or pause your payments if your family income is below a threshold for your family size. Payments are capped at 10% of household income, and you re-apply every 6 months.
Is the Repayment Assistance Plan automatic?
No. You apply, and you re-apply every 6 months. You must live in Canada, have left school at least 6 months ago and be up to date on your loan payments.
What to work out next
Where these numbers come from
- Government of Canada — Interest-free student loans effective April 1 (March 31, 2023) Permanent elimination of interest on Canada Student Loans.
- Government of Canada — Update your student loan payment No interest on Canada Student Loans; a provincial part may carry interest. Modified December 16, 2025.
- National Student Loans Service Centre — Glossary The 174-month maximum and the 18 to 114 month assigned terms.
- Government of Canada — Repayment Assistance Plan Monthly income thresholds by family size, modified July 31, 2026.
- Employment and Social Development Canada — The Repayment Assistance Plan (Nov 1, 2022) The cap of 10% of household income.
Last verified 2026-10-23 Rates on this page are checked against the sources above at least once a year, and whenever the governing authority announces a change. Spotted something out of date? Tell us and we will fix it.
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