Correct! - Question #8

4You may be eligible for Interest Relief if _____________________.

• your family income is below a certain level
• you did not sign a consolidation agreement
• you have had problems keeping your loan in good standing
• you have exhausted the 30 month limit and still are in financial difficulty

If your family income is below a certain level, you may be eligible for Interest relief. While receiving Interest Relief, the Government of Canada will pay the Interest on your Canada Student Loan and you do not need to make any payments on the loan. Interest Relief is normally approved for six-month periods, up to a maximum of 30 months.

(Source: 2003-2004 Information Guide, page 17; 10 Important Steps Brochure, Section 9)