How do I rehabilitate my B.C. Student Loan after default?


Instructions

  1. 1 Contact Revenue Services of British Columbia to establish a repayment plan.

    Mailing address:

    Revenue Services of British Columbia
    PO Box 9483
    Victoria, BC V8W 9W6

    Phone:

    1-866-345-3930

    Website


  2. 2 Make the equivalent of two monthly payments to Revenue Services of British Columbia, and repay RSBC all outstanding interest, NSF charges and other fees associated with the defaulted B.C. student loan from the date of default.
  3. 3

    Notify StudentAid BC that you have met the above criteria via your StudentAid BC dashboard account, email, or phone.

    If you do not have a dashboard you can register prior to submitting your application. You can check your application status from your dashboard. StudentAid BC will process your request within 30 days and notify you of the outcome on your dashboard account.

  4. 4 Continue to make your payments to RSBC while your loan rehabilitation request is being assessed by StudentAid BC.
  5. 5 If your rehabilitation is approved, you will receive a letter from SABC notifying you that your loan is rehabilitated. If your rehabilitation is not approved, you will receive a letter from SABC notifying you that your loan is not rehabilitated.
  6. 6 Once your loan is rehabilitated you will receive a letter from National Student Loan Services Centre to establish your new payment schedule.
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