Student Financial Services - PEI Student Loan Rehabilitation Program

Provided by: Government of Prince Edward Island - Department of Education and Lifelong Learning - AKA: Formerly Department of Education, Early Learning and Culture

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 a six-month 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 your 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 your interest in the program
Documents Required:
Not applicable
Language:
English
Coverage Area:
Prince Edward Island

Service Locations & Contact Info