Most student loans have a six-month grace period, which means you wonât have to make payments until six months after you graduate, drop out or drop below half-time status. The grace period is meant to give you a chance to find a job and begin earning an income before youâre swamped with bills.
First Party Claims vs. Third Party Claims. There are two types of insurance claims: first party claims and third party claims. While a first party claim is one you file with your own insurance company, a third party claim is one you file with the insurance provider of another person or business.
The deduction is claimed by filing Form T2222 with your return. You can review the CRA publication T4039, âNorthern Residents Deductionâ Places in Prescribed Zones,â to determine if you live in a prescribed northern or intermediate zone. There are two deductions you may be able to claim: 1.