In Payment

What Could You Save Making Lump Sum Payments?

 You can save thousands of dollars on interest costs. And it's not complicated. Just throw spare cash at your student loan debt – on top of your regular payments.

These extra, one-off payments are usually called 'lump sum' payments.

Use this link from Manitoba's Credit Unions to see the payoff.

Tips: This calculator is simple to use, but it won't take commas. And if you're on the results page, you have to click that page closed to go back and try new numbers in the input page.

Check it out…

The Student Loan Whacker - In Payment

This debt-cutting tool is also known as the Debt Investment Calculator. That's  because it shows you why paying off debt is an actual investment. In fact, paying off debt may be the most profitable investment you can make.

The Whacker also helps you answer three questions, based on what you could add each month to your student loan payment:

Accelerated Debt Payoff


Ok, here's another calculator based on consolidating your student loans with other debt.

But remember, you should only consolidate if:

How Much Could You Save on Student Loan Debt by Not Smoking?

Do you smoke? Tobacco, that is? If so, let this calculator-combo be your student-debt cutting tool.

Here's how:

If You're Repaying


Sarah, age 23, graduated with a BA in Geography last spring. It took so long to get work in her field that she’s glad to have her job, but the annual pay ($29,000) is less than her $34,000 student loan debt. Most of her pay goes to rent, food and student loans. But at the rate she’s going, she feels like she’ll be paying student loans forever.  
David, age 32, has an MBA. He paid off a private student loan and a federal loan during his first two years of a high-paying job.
Read More ...

Right Column: 


RRSP of Faster Payoff of Your Student Loans?

Student Loan Whacker - In Payment

How Much is Your Student Loan Interest Tax Credit Worth?

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Money Theatre

Ingenious Student Money Saving Idea - Long Version

The 6.75% Variable Interest Rate Polka by Benjamin Keen

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Forum Archive

One Way to Pay Debt Faster

Deadlines for Debt in Repayment Program


Other Site Resources

The REAL Rules

Application Forms



Who To Contact for Help

Credit Bureaus, Credit Reports, Debt and Your Rights

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You’ll find help in the other sections too!

For example, saving is just as important now as it was when you were in school. You want to get out of debt and move on! Get more help penny-pinching from the In School Resources.

And just because you’re in good standing with your student loans or other debt doesn't mean you might not feel like you're in a financial crisis. So if you're struggling to keep up with all these payments, use In Crisis Resources to get back on solid ground.


Newfoundland Ends Interest on Student Loans!


As of August 1, 2009, Newfoundland and Labrador will strengthen its student-friendly reputation by removing interest charges from provincial student loans.

Media reports on the story seemed to overlook this point: Before the government made this change, the Newfoundlanders and Labradorians Against Student Debt (NLASD) had run an online campaign to end interest charges, which included a petition.

Tuition Fee Rebates Across Canada

 UPDATED July 2014...

Let's focus on the universal programs here - the ones most grads can obtain.

Some provinces, such as BC, only offer tuition fee rebates or loan forgiveness to small groups of people -- such as recent grads now working in B.C.'s civil service ("Pacific Leaders"). This can limits aid to an elite group of chosen employees. 

 But other provinces have more universal programs. They offer a generous tuition tax rebate for all, or for all with an undergraduate degree (each province varies).

Oops... Media Misreads Saskatchewan Tuition Fee Rebates

In the past day or two, you may have seen media coverage announcing that the government of Saskatchewan is offering tuition fee rebates of up to $20,000.
Actually, Saskatchewan rejigged its tuition rebate-based Graduate Retention Program in it's 2008 budget. But it's still an important program -- and should be explained on our Debt 101 helpsite -- so let's go.
First, the good news.

After Nova Scotia Students Vote With Their Feet, the Deal Sweetens


How interesting, the flurry of initiatives launched by Nova Scotia recently to cut costs for post-secondary students.

During 2008, the announcements included a three-year tuition freeze, a grant, bursary, increased graduate tax credit and a two-point cut in student loan interest rates.

Seems there was substance to those media reports that Nova Scotia was losing students due to high tuition fees.

In Payment Calculators

In School

If you're making student loan payments, these calculators will help you answer questions like these: