Interest Rates for Canada Student Loans

The interest rate is multiplied by the outstanding principal on your student loan to calculate your interest payments.

The conditions of repayment for your Canada Student Loan are set at the time you enter repayment.

You can select a fixed interest rate or floating (variable) interest rate when it comes time to begin repaying your student loan.

As of October 2009, the interest rate was 4.75% for the floating rate and 7.25% for the fixed rate.

For Canada Student Loans issued on, or after August 1, 1995:

* the fixed interest rate is prime + 5% and;
* the floating rate is prime + 2.5%.

For Canada Student Loans issued prior to August 1, 1995: the annual interest rate is 3.265%.

Source:
Interest Rates for Canada Student Loans