The B.C. Student Loan Rehabilitation Program is available to B.C. borrowers

• who hold a Canada-B.C. integrated student loan and wish to rehabilitate for any reason and
• who hold a B.C. Guaranteed Loan that is now managed by RSBC and wish to rehabilitate for the purpose of applying for further student financial assistance.

Instructions

B.C. Student Loans

B.C. Student Loan borrowers who hold a Canada-B.C. integrated student loan and who have lost their eligibility for B.C. student financial assistance because they defaulted and wish to rehabilitate their B.C. student loan must:

• Repay the outstanding debt and all associated fees in full, or
• Meet all of the following criteria:
  • Contact Revenue Services of British Columbia (RSBC) and negotiate a payment schedule;
  • Repay RSBC all outstanding interest, NSF charges and other fees associated with the B.C. Student Loan;
  • Once all outstanding interest and fees are paid off, make the equivalent of two monthly loan payments based on the payment schedule outlined with RSBC; and
  • Ensure that RSBC repayment requirements are kept up to date until the rehabilitation request is approved.

• (i) If you hold a direct lend loan and your rehabilitation is approved, you will receive a letter from National Student Loans Service Centre notifying you that your loan is rehabilitated and that it has been sent to the National Student Loans Service Centre for collection management.
• (ii) If you hold a Guaranteed student loan and your rehabilitation is approved you will receive a letter from StudentAid BC notifying you that your loan has been rehabilitated and RSBC will contact you regarding continued repayment.

The lender who cashed your risk-sharing B.C. student loan document is responsible for collecting if you default. You must negotiate with your lender to bring your loan into good standing.