Student Financial Services - PEI Student Loan Rehabilitation Program

Provided by: Government of Prince Edward Island - Department of Workforce, Advanced Learning and Population
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Service Description

Provides former students who have defaulted on their PEI provincial student loans with an opportunity to bring their account back into good standing by providing a six-month payment schedule. The benefits of registering and successfully completing the rehabilitation plan include:
  • Interest free status
  • De-registration from the Canada Revenue Agency's Refund Set-Off Program
  • Eligible to apply for further PEI student financial assistance (assuming the federal portion of the student loan is in good standing)
  • Eligible to apply for the Payment (Interest) Relief Program
  • Improved personal credit rating

Information

Eligibility:
PEI residents who: Have defaulted on the provincial portion of their student loan * Have less than two prior attempts to rehabilitate their PEI student loan
Fees:
Yes * Must be willing to commit to the payment schedule set out by the program
How to Access:
Contact PEI Student Financial Services to discuss interest in the program
Documents Required:
Not applicable
Language:
English
Website:
https://www.princeedwardisland.ca/en/information/education-and-lifelong-lea(...)
Coverage Area:
Epekwitk / Prince Edward Island

Service Locations & Contact Info