Canada’s COVID-19 Economic Response Plan has announced measures to help individuals and businesses in Canada cope with the new financial realities. As a part of this Plan the deferment of some major monthly expenses have been included.
If you have an outstanding Canada Student Loan, effective March 30, 2020, a six-month interest-free moratorium is being granted to all student loan borrowers.
- If you have a private student loan offered by a financial institution, please ensure you contact them directly for any applicable updates to your repayment schedule.
If you have a mortgage you may be eligible for a Mortgage Payment Deferral. You should contact your bank or your mortgage professional to see if you are eligible.
- Mortgage payment deferral may be applied to both CMHC-insured and non CMHC-insured mortgages.
Note: This list is not exhaustive and depending on your personal circumstance there may be additional benefits or deferred payments applicable to you. Learn More.
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