Your Redeemer Student Loan becomes due 4 months after you graduate or cease to be a full-time student at Redeemer.

If you do not return to full-time studies
(minimum 60% course load) at Redeemer, you are required to start making payments towards your loan.  Finance charges of prime plus 1% will be added to your account starting 4 months after you leave Redeemer.

There are two options for loan payments:
 1. Payment in full, by cheque or online banking.
 2. Monthly payments.
  1. Online banking – “RF” followed by your seven digit account number.
  2. Post-dated cheques – post-dated cheques at the 1st of each month.
  3. Pre-authorized payments – PAPP form and void check – payment will be processed on the 15th of each month.
Your minimum monthly payment should be in accordance with the following table (based on original loan amount plus finance charges).
Outstanding Amount
Minimum Maximum Minimum Payment
 $0 $1,000 $50
$1,001 $2,000 $75
$2,001 $3,000 $100
$3,001 $4,000 $125
$4,001 $5,000 $150
$5,001 $6,000 $175
$6,001 $7,000 $200
$7,001 $8,000 $225
Redeemer Student Fund Loan accounts are not available online. Statements for loans that are due are mailed out every 3 months. Please contact the business office at 905-648-2131 ext. 4286 or email if you are in need of your most up-to-date balance of your loan.