Grace Period
For Canada Student Loans, this is the 6-month period after a student graduates or leaves school when loan payments don't have to be made. However, interest on your loan builds up during this period. You can either make the interest payments, pay it all before you start repayment (in 6 months) or arrange to have the interest added to your loan principal after the 6 months. If you choose to add it to your principal, you will not be able to claim the interest paid on your income tax return.