Which student loans are consolidated?
The possibility of Student loan consolidation depends on the province or territory in which you live. If you took out both federal and provincial loans, they will automatically consolidate if you live in:
- New Brunswick
- Newfoundland and Labrador
These provinces allow you to apply for both loans with one application, and after graduation, they consolidate the student loans via the Integrated Student Loans program. You'll pay only one loan to satisfy both debts.
There are some provinces and territories that only offer one type of loan, either federal or provincial/territorial, so you'll only have one loan to repay anyway. These include:
- The Northwest Territories
In all remaining provinces, you could apply for both federal and provincial loans with one application, but these student loans will not be consolidated upon graduation. That means you'll have to be sure to repay each loan separately. This is the case if you live in:
- British Columbia
- Nova Scotia
- Prince Edward Island