Manage your debt

You will need to plan and budget to pay for your post-secondary education and additional expenses like textbooks, transportation and meals.

Education costs

Education after high school is a great investment but it's a great idea to plan what your costs are going to be.

  • Cost Breakdown
    learn what you'll have to pay for while in school, and why prices can differ.
  • Tuition
    find out how much students are paying for post-secondary education.
  • Cost of Living Calculator
    get an idea of how much it will cost for basic necessities in different regions of B.C.

Budgeting during school

Find programs and services to help you plan and add funds to your budget.

Loan repayment

If you're planning to take out a student loan, it's important to prepare for repayment.

Loan repayment commences on the first day of the seventh month following the completion of your studies. The period between when your studies complete and the 1st day of the seventh month after your studies complete is referred to as the non-repayment period.

You may choose to begin repaying your loan before that time in part or in full.


Prime rate
The prime rate was used as a base to calculate the interest applied to a Canada Student Loan and BC Student Loan when interest was charged. The prime rate is the annual interest rate Canada’s major banks and financial institutions use to set interest rates for loans.

Fixed rate
Fixed rate is a stable rate of interest. If you had negotiated a fixed rate, you would have been charged the same interest rate throughout your repayment period up to the time that interest was eliminated.

Variable rate
Variable rate is a rate of interest that varies over time with the prime rate. If you negotiated a variable rate, the interest you were charged during repayment of your loan, until interest was no longer charged would have increased/decreased when the prime rate increased/decreased.

What interest rate will I pay?
Effective April 1, 2023, the Government of Canada has eliminated the interest charged on all Canada Student Loans. You continue to be responsible to pay any interest that may have accrued on your loan before April 1, 2023.

Effective February 19, 2019, BC has eliminated the interest charged on all B.C. government-issued student loans. You continue to be responsible to pay any interest that may have accrued on your loan before February 19, 2019.