Student Loan Calculator
See how your monthly student loan payments impact your take-home pay. Check if your income qualifies for the Repayment Assistance Plan (RAP).
Student Loan Details
Impact on Take-Home Pay
Monthly Payment
$300
Annual Payment
$3,600
% of Take-Home Pay
8.4%
Canadian Student Loans: Canadian federal student loans have had 0% interest since April 2023. Repayment Assistance Plan (RAP) is available for those with low income. Enter your monthly payment to see its impact on your annual take-home pay.
Canadian Student Loans
0% Interest: Since April 2023, the federal government eliminated interest on Canada Student Loans and Canada Apprentice Loans. Most provincial loans still charge interest.
Standard Repayment: Fixed monthly payments over up to 10 years based on your loan balance, managed through the National Student Loans Service Centre (NSLSC).
Repayment Assistance Plan (RAP): If your income is low, you can apply for RAP to cap your payments at an affordable level. After 15 years (or 10 years if disabled), remaining eligible balances are forgiven.