A few days ago
Ali

Did you pay your education loan completely ?

im goin to a university this year and i have heard that you dont need to pay back the loan that you get from the government…like if you get $10,000 you can pay $8000 back ! i’ve heard from some people that they have done that ! is this true ??? i live in Canada by the way !

thanks!

Top 6 Answers
A few days ago
chris g

Favorite Answer

I paid all mine. Not that it was a big amount.

Nor am I a lawyer: Something like 85% to 95% of lawyers in Canada defaulted on their student loans, or simply declared bankruptcy. Consequently the laws were changed by the Federal government and now student loans are exempt from being written off if you do have to declare bankruptcy.

(insert favourite nasty adjective) lawyers anyhow.

You will still have to pay the loans off.

If you enter certain fields, some of your tuition might be forgiven: I believe if you enter Medicine, and become a doctor, B.C. forgives a portion of the tuition. You’ll have to verify that yourself, to see if that program still exists or if similar programs might be available in other provinces, of course.

Study hard and try for scholarships, and research for bursaries to help keep your costs down. There are a lot of them available, and a surprising number of those don’t hand out all the money they could each year.

And did I mention study hard?

In 4 or 5 years when you graduate with a trade, or a P. Engg, Bachelors or Masters degree, a lot employers will be offering signing bonuses to get the top graduates, so you can pay off a good portion of your loans right away.

Unless you major in English or Arts, that is.

Other tip: learn how to cook well, and frugally. (That way you can invite the hotties over for dinner and to study together… 🙂 )

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4 years ago
?
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6 years ago
Jackson
No it is not true you have to pay the loan off exactly the amount you have taken. There will be no cutting in the debt amount but it happens in some of the cases only that your tuition fees might get forgiven and these cases depends on which study field you are in otherwise you have to work out to become able to pay the loan completely because it is the reality and you have to pay the full amount of the loan.
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4 years ago
?
interest purely keeps develop, further and further. and you may notice a clause once you signed the settlement that pupil loans are “no longer dischargable” this means that even dealing with financial disaster won’t lead them to pass away. you will ought to pay them sometime. And the longer you wait in the previous a minimum of paying the interest, the extra you will owe. Supposedly that training made you qualify for a severe earnings job that would enable you to to pay off the own loan. i wish you took a stable substantial.
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A few days ago
embroidery fan
You CAN do all sorts of things, but they are immoral.

You should pay loans back. I did. Some people don’t, but that doesn’t make it right! In the US a lot of lenders stopped giving student loans BECAUSE so many students didn’t pay them back….

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A few days ago
Anonymous
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