Do I still have to make payments if I go back to school?

Back to school with a consolidated loan

You’ve signed the loan papers and everything is in order. Finally, all of your student loans have been consolidated into one manageable monthly payment. However, you’re still attending classes. 

Now that you’ve already consolidated your loans, how are you going to continue to make payments while attending school? The good news is you can have consolidation payments deferred if you’re enrolled as a full or part-time student in post-secondary education.

In most cases, students who are not enrolled full or part-time will have interest accruing on the loan. As a full-time or part-time student, you can defer payments and the government will pay the interest on those deferred, subsidized loans.

Just remember that you’ll have to start paying back your loan as soon as you graduate, with no additional grace period offered.