If you have a student loan and are a resident of Nova Scotia, you should be aware of the Resolve platform. You can use this platform to manage your loan online and even save money on interest.
Read on to find out more about Resolve and how you can take advantage of its perks.
What Is The Resolve Student Loan?
Resolve works on behalf of the government of Nova Scotia to service Nova Scotia direct student loans that are in repayment.
The program is designed to help you manage your student loan. To be eligible for Resolve Online Services, you must have received your loan or entered repayment on or after November 1, 2007.
What If You Received A Student Loan Before November 1, 2007?
Any Nova Scotia student loans received before October 31, 2007, are not covered by Resolve. Instead, they are administered by your lender. Further, Canada Student Loans are managed by the National Student Loans Service Centre (NSLSC).
How To Register For Resolve
Follow these steps to register for Resolve:
Step 1. Confirm Your Identity
To verify your identity, you’ll need to provide the following information:
- Full name
- Birthdate
- Social Insurance Number (SIN)
- Nova Scotia student loan number
Step 2. Create An Account
Choose a username and password, which you’ll use to register and access your account. You’ll also need to provide answers to three secret questions. This adds another layer of security to your account.
Step 3. Read And Accept The User Agreement
Carefully review all the terms and conditions of the user agreement. Then, accept it to complete the registration process.
What Can You Do With Resolve?
You can use the Resolve platform to perform a handful of functions:
Change Your Bank Account Info
You can use Resolve to update your bank account number or change your monthly payment amount online. Alternatively, you can print and complete a PDF form to make changes to your bank account information.
View Resolve Student Loan Info
You can check on several aspects of your student loan, including your loan status, outstanding loan balance, loan payment history, and details of any new loans.
Make Loan Payments
You can make payments toward paying down your student loan through the Resolve platform. If necessary, you can also change your monthly loan payment amount or modify your payment date.
Update Personal Information
Resolve can be used to make changes to your personal and contact information as required.
Interest Elimination On Resolve Student Loans
Eligible borrowers are not charged interest on their Nova Scotia student loans. Interest charges on provincial student loan funding were eliminated as of March 20, 2014, in an effort to make life more affordable in the province. The 0% interest calculation is immediately applied to your account once you’ve qualified.
In order to be eligible for 0% interest, you must have started your Nova Scotia student loan repayments after November 1, 2007, and graduated from a designated program.
How To Get The 0% Resolve Student Loan
To apply for the 0% Resolve student loan, log in to MyPATH, choose the 0% interest application, and complete the application process. To continue receiving 0% interest, you must re-apply every calendar year.
Benefits Of A Nova Scotia Resolve Student Loan
There are several reasons why you may want to consider taking out a Nova Scotia Resolve student loan:
- Save money. The Resolve program can help you keep more money in your pocket. The amount you can save is based on your outstanding loan balance and interest rate. Once you’re qualified for the Resolve 0% interest program. The 0% interest calculation will be applied to your account right away. This means 100% of your loan payments will go toward paying down the principal amount of your loan.
- Lower your payments. No interest on your loan means you’ll owe much less overall. And be able to pay down your student loan debt quicker. While the 0% interest change will not change your monthly loan payments. You can reach out to Resolve for help reducing your payments.
- Manage your loan online. You can use the Resolve platform to take complete control over your student loan. Including viewing your payment history, making changes to your loan payment dates, and modifying your personal information.
Final Thoughts
If you’re a Nova Scotia resident and started making payments on your provincial student loan on or after November 1, 2007. You may be eligible for Resolve and the many benefits it offers. Go online to find out if you qualify and to register for Resolve online services.
Resolve Student Loan FAQs
Do I qualify for a Resolve student loan?
Will I still qualify for Resolve if I move out of Nova Scotia?
How do I contact Resolve to change my student loan payment?
- Resolve: 1-877-283-1687
- National Student Loan Service Centre: 1-888-815-4514
- RBC Royal Bank: 1-800-363-382
