AM I ELIGIBLE?

1. As a Reservist, how will these legislative changes affect me?
   
   
2. How is this benefit different from what it used to be?
   
   
3. Does this benefit apply to me if I have already started paying back my student loan?
   
   
4. Does this benefit apply to me if I'm a part-time student in the Reserves with a student loan?
   
   
5. Does this benefit apply to me if I'm finished school and I have a student loan, but I haven't started to pay it back?
   
   
6. If I went on a designated operation before January 2008, do I qualify for interest-free status on my student loan?
   
   
7. Does this apply to me if I have a provincial student loan?
   
   
8. How do I apply for interest-free status?
   
   

9. I have to pay back my student loan but another reservist serving with me doesn't have to pay back anything at all while on operations. Why is that?

HOW DOES THIS BENEFIT WORK?

1. When does this change come into effect?
   
   
2. What happens if I don't return to full-time study after a designated operation?
   
   
3. What happens if I become injured during designated operation?
   
   
4. What if I become permanently disabled while I am on a designated operation and I'm unable to attend full-time study and unable to pay back my loan?
   
   
5. How long can I be exempt from paying my student loan?

AM I ELIGIBLE?

1) Q. As a Reservist, how will these legislative changes affect me?

A. If you are eligible and have been deployed on designated operations since January 1, 2008 or you are about to be deployed you will not be charged interest or have to start paying back your student loan while you are away from your studies.

You will be eligible for this benefit if you:

• are in the Canadian Reserves;
• are a full-time student;
• have a federal student loan but have not started repayment; and
• intend to return to school after your designated operations.

Depending on the province or territory that your loan is with, you may be required to make payments on the provincial/territorial portion of your loan. If payments are required, the Government of Canada will ensure that interest is paid on the provincial/territorial loan.

The benefit will apply for the duration of your service on a designated operation and may be extended up to six months due to the timing of your return from service. The benefit can also be extended for a maximum of two years if you are injured.

2) Q. How is this benefit different from what it used to be?

A. Before this benefit came into effect, Reservists who left their studies and had student loans were charged interest and were required to start paying back their student loans if they were away from studies longer than six months.

3) Q. Does this benefit apply to me if I have already started paying back my student loan?

A. If you have already started to pay back your student loan, this change will not apply to you. You will be required to continue making payments during designated operations.

4) Q. Does this benefit apply to me if I'm a part-time student in the Reserves with a student loan?

A. No. You must be a full-time student to be eligible.

5) Q. Does this benefit apply to me if I'm finished school and I have a student loan, but I haven't started to pay it back?

A. It will only apply to you if you intend to return to school after designated operations.

You will need to complete a Canada Student Loans Program Confirmation of Posting Assignment for Full-Time Students form.

6) Q. If I went on a designated operation before January 2008, do I qualify for interest-free status on my student loan?

A. Students will be able to apply for this benefit after June 13, 2008.

7) Q. Does this apply to me if I have a provincial student loan?

A. Most student loans are made up of funding from both the federal and provincial/territorial levels of government. If you are eligible for this new benefit, you will not be required to make payments on the federal portion of your student loan when you are deployed on designated operations. Interest will not be charged during this time.

You may be required to make payments on the provincial/territorial portion of your loan, depending on the province or territory your loan is with. If payments are required, the Government of Canada will also ensure that interest is paid on the provincial/territorial loan. All payments you make during this time will directly offset the principal of the provincial or territorial student loan.

8) Q. How do I apply for interest-free status?

A. You must download the Canada Student Loans Program Confirmation of Posting Assignment for Full-Time Students form. Information about this benefit is also available on the Human Resources and Skills Development (HRSDC) Web site and the Department of National Defence (DND) Web site.

9) Q. I have to pay back my student loan but another reservist serving with me doesn't have to pay back anything at all while on operations. Why is that?

A. This new benefit depends on the type of student loan that you have, the time you started your designated operation, and if you are pursuing your post-secondary education on a full or part time basis.

Only Reservists who stopped their full time studies after December 1, 2007 so that they could serve on a designated operation will qualify for this benefit. To be eligible, you must not have started repayment on your federal student loan and you must intend to return to school after your designated operations.

This benefit prevents a Reservist's federal student loan from entering into repayment during their deployment. Normally, a student must begin repayment on their federal student loans six months after they stop post-secondary studies.

If you qualify for this benefit, you may still be required to make payments on the provincial/territorial student loan depending on your province or territory of residence. If payments are required on your provincial/territorial student loan, the Government of Canada will ensure that interest is paid.

HOW DOES THIS BENEFIT WORK?

1) Q. When does this change come into effect?

A. Students will be able to apply for this benefit after June 13, 2008.

2) Q.What happens if I don't return to full-time study after a designated operation?

A. If you don't return to full-time study, you will have to start repaying your loan six months after your return date.

3) Q.What happens if I become injured during designated operation?

A. The exemption will only cover your recovery period for a maximum of two years if you are injured. These details are currently being developed.

4) Q. What if I become permanently disabled while I am on a designated operation and I'm unable to attend full-time study and unable to pay back my loan

A. If you become permanently disabled, you may be able to benefit from measures for students with Permanent Disabilities that provide more effective support for students with Permanent Disabilities.

5) Q. How long can I be exempt from paying my student loan?

A. Most deployments do not last longer than twelve months. You will be exempt from paying the interest on your student loans and will not have to make payments on federal student loans for the entire duration of your service on the designated operations.