Are you thinking about taking out student loans? The National Student Loans Service Centre (NSLSC) is here to help you. Essentially, you can think of the NSLSC as the ‘banker’ for your loans.
With your student loans, the loans you take out each year during your studies are gathered into one amount for you to pay back. The 6-month period after you leave full-time studies is considered your non-repayment period. When this period ends, you enter the repayment period. In this period, you can:
- Choose to pay off interest that may have accumulated during your non-payment period or to add it to your loan balance
- Choose either a floating “variable” or fixed interest rate
For more information on student loans, watch the videos below. The topics covered throughout the videos include: Who you should contact about your student loans; the three stages of your student loan; what you need to know about repaying; and much more.