Canada Student Loan Repayment Calculator: Monthly Payment, RAP Eligibility & Provincial Interest

Standard repayment (amortization). For each loan portion, the monthly payment uses the standard amortization formula: payment = principal × r / (1 − (1 + r)^(−n)), where r is the monthly interest rate (annual rate ÷ 12) and n is the number of monthly payments. When the annual rate is 0%, the formula reduces to payment = principal ÷ n, so total interest is exactly $0.

Federal portion at 0% interest. The Government of Canada permanently eliminated interest on Canada Student Loans effective April 1, 2023, so the federal portion is always modeled interest-free: federal monthly payment = federal balance ÷ repayment months, and federal total repaid = federal balance.

Provincial portion. Interest on provincial/territorial loans varies by jurisdiction and over time, so you enter the annual rate yourself (0–20%). The calculator amortizes the provincial balance at that rate over the same term. Total interest shown is therefore attributable to the provincial portion only.

Repayment term. The default term is 114 months (9.5 years), the standard NSLSC repayment schedule after the 6-month non-repayment period. The term can be adjusted from 12 up to 174 months (14.5 years), the maximum extension available to lower monthly payments.

RAP income thresholds (Canada.ca). The RAP screening compares your monthly gross family income to the official threshold for your family size: 1 person: $3,788 · 2 people: $4,444 · 3 people: $5,444 · 4 people: $6,283 · 5 people: $7,026 · 6 people: $7,696 · 7 or more people: $8,313. Family sizes of 7 or more use the 7+ threshold. At or below the threshold, the likely outcome is a $0 RAP payment for the 6-month term; above it, you may still qualify for a reduced payment.

Prerequisites checked. RAP normally requires the loan to be in repayment (not in school and past the 6-month non-repayment period) and payments to be up to date. If either prerequisite is not met, the calculator shows a warning instead of a likely-$0 result.

What is intentionally not reproduced. For incomes above the threshold, the official RAP reduced-payment calculation (based on a capped percentage of income, family size and loan balance) is applied by the NSLSC at assessment time. Those detailed formulas are not fully reproduced here because the official calculation parameters are not published in a stable, machine-usable form; the calculator reports threshold status and directs you to the official assessment instead of guessing an exact reduced amount.

Data and assumptions. RAP income thresholds: Government of Canada, Repayment Assistance Plan page (canada.ca). Repayment benchmark: the CanLearn Loan Repayment Estimator, the official federal repayment estimation tool. Loan management and applications: NSLSC Loan Repayment Options (csnpe-nslsc.canada.ca). Thresholds shown apply to the federal RAP assessment; provincial portions administered outside the integrated program may use different thresholds or separate provincial repayment assistance.

Last reviewed: 2026-07-07 (model v2.0, replacing the earlier simplified v1.0 estimate). Methodology review: official thresholds and repayment assumptions checked against Government of Canada / NSLSC references.

Standard repayment: federal portion at 0% interest, provincial portion at the rate you enter, both amortized over a 12–174 month term (default 114 months).

RAP screening: your monthly gross family income is compared to the official Canada.ca thresholds by family size ($3,788 for one person up to $8,313 for seven or more). At or below the threshold, a $0 payment for the 6-month term is likely; above it, a reduced payment may still be available.

Results are estimates only. Official RAP eligibility, reduced-payment amounts and repayment schedules are determined by the NSLSC and, for provincial portions, your provincial student aid authority.