News and Updates

June 2021 Update:

Assalamu alaykum,

If you currently have a loan with the NSLSC, you may have received a notification stating that interest is being suspended from the federal portion of your loan until March 2022 (and potentially until March 2023). Please note that this freeze is on the federal portion of your loan and NOT the provincial portion. Therefore, you may still be charged interest on the provincial portion of your loan.

If you are currently being charged interest on your OSAP loan, do not view this as an opportunity to defer your payments. Rather, this is an opportunity to pay off part of your existing loan without engaging in Riba and InShaAllah one step closer towards completely freeing yourself from Riba.