B.C. loan forgiveness program

If you qualify for the B.C. Loan Forgiveness Program, the Province of British Columbia will forgive the outstanding B.C. portion of your Canada-B.C. integrated student loan debt at a rate of up to a maximum of 20% per year for up to five years.

If you complete five years of employment, all or a percentage of your B.C. student loan debt will be forgiven. While you are in the loan forgiveness program, the Province will also pay any outstanding interest that accumulates during each year you are registered in the program.

You may be eligible if you:

• are in repayment of an outstanding B.C. student loan (not restricted in default, delinquent or bankruptcy)
• have graduated from an accredited post-secondary educational institution
• are or will be employed (full-time, part-time, and/or casual/on-call) at a publicly funded facility in an eligible occupation either with children or in an underserved community in B.C.
• are not enrolled in full-time post-secondary studies

Notes:

• To receive benefits under this program you will be required to demonstrate a minimum number of in-person hours of service in an eligible occupation at a publicly-funded facility either in an underserved community or working with children (see the What are my responsibilities under this program Section).

Instructions

Once you have been approved for the B.C. Loan Forgiveness Program, there are things you must do to maintain eligibility:

• One year after your program registration date (your one year anniversary date), you must submit via StudentAid BC online account, mail or courier a signed letter from your employer documenting your hours of in-person service in an eligible occupation at a publicly-funded facility in British Columbia either in an eligible under served community or working with children. The letter must include the following:
• Letterhead and name of the facility where you are employed;
• Your name, occupation and community;
• Dated within 30 days of your 12 month anniversary date;
• Signature of your employer; and,
• The number of in-person service hours provided during the 12-month period prior to the anniversary date.
• Maintain your current mailing and email address information with StudentAid BC.

Note: If your verified in-person hours of service is less than 400 and greater than 99 hours, your benefits under the program for that year will be prorated as indicated below.

Important: If you plan on applying for loan forgiveness, any payments you make prior to your approval for loan forgiveness benefits will not be used in the calculation for eligibility. Therefore, the balance at the date of registration onto the loan forgiveness program will be the balance used for the calculation of benefits.