Log into: Alberta Student Aid – MyLoan

Log into: National Student Loans Service Centre (NSLSC)

There are many consequences if you miss even one payment on your provincial or federal student loan:

Your credit rating is immediately affected.

• Your loans may be sent to a collection agency.
• Any GST or income tax refunds may be automatically used to repay the defaulted loans.
• The provincial and federal governments may take legal action.

A credit rating is an evaluation of the history of your loan repayment. Having a good credit rating will maximize your opportunities to qualify for credit cards or future loans (perhaps for a new car or house), or even to be able to rent an apartment.

Student loans are just like any other loan. They must be paid back. When you receive your first Alberta and Canada student loans, these are reported to the credit bureau.

You build a positive credit rating by making payments towards your student loans on time, each month. When you do not make your loan payments on time, you will create a negative credit rating.

A credit bureau report includes information about the amount of your outstanding debt and the amount of credit available to you.

This report registers your new debt. When your student loans enter repayment, your payment history is reported each month and will become part of you credit history.