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nago
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Joined: 01/December/2004
Location: Canada
Points: 212
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Posted: 06/December/2004 at 5:00pm |
In BC the reqs for ir are that you cant be a full time student
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momof2
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Joined: 15/August/2004
Location: Canada
Points: 792
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Posted: 07/December/2004 at 3:39am |
nago, thats only one of the req's...
Eligibility Criteria
Effective August 1, 2002, former students will no longer be required to apply for and receive interest relief for their Canada student loans prior to applying for interest relief on their BC student loans.
To receive BC interest relief:
- You must have a family income, before taxes and other deductions, that does not exceed the maximum amount specified for your family.
- You must be repaying your BCSL.
- You must not be in full-time studies.
- You must not be in a six-month post-study period.
- Your BCSL must be in good standing (all portfolios) or you must be able to bring your loan(s) into good standing.**
- You have not received the lifetime maximum of 30 months of interest relief or 54 months of extended interest relief.
- You live in Canada or you are participating in an international internship program.
**Note: If you declare bankruptcy after May 11, 2004, you can still apply for and receive BC interest relief provided you meet all other eligibility criteria.
visit www.aved.gov.bc.ca/studentservices/student/finish/debt_red/b c_int.htm for the rest of the information and links for both bc and federal interest relief and debt reducitoin information.
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momof2
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Joined: 15/August/2004
Location: Canada
Points: 792
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Posted: 07/December/2004 at 3:48am |
world
that doesnt sound quite right. is that all they said ?? was this from the NSLSC or direct from yor original lender ??
my loans CSL and OSL were from 96-99 and they let me apply.
more info please !!!
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worldfamous
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Joined: 17/November/2004
Points: 36
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Posted: 07/December/2004 at 5:18am |
Thats all they said. It came from the NSLSC.
I am from Newfoundland. Not sure if that will make any difference.
Client Services & Counselling Student Financial Services Division Department of Education P.O. Box 8700 St. John's, NF A1B 4J6 Ph: (709)729-5849 Toll-free: 1-888-657-0800 Fax: (709)729-2298
Edited by worldfamous
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SolveStudentDebt
Moderator Group
Joined: 05/November/2003
Location: Canada
Points: 5996
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Posted: 07/December/2004 at 5:28am |
World,
Write to me privately. I will give you the number of an associate of mine who may be able to help at the NFLND gov.
Johnny
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Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting. solvestudentdebt.com
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worldfamous
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Joined: 17/November/2004
Points: 36
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Posted: 04/March/2005 at 5:25pm |
-------------------origninal post---------------------------
I last applied for a student loan in 1998 for a 2 year course. I finished school in april of 2000 and started paying back the loan in November of 2000.
I am currently going back to school, but am paying for the tuition myself.
I was wondering if i would qualify for debt reduction in 2005?
One of the stipulations state that
- five years has passed since you last attended a post-secondary institution;
Does this apply even thought im paying for the schooling myself and am not using a student loan?
-------------------origninal post---------------------------
I was just reading some of the posts, and then it hit me. I was receiving interest relief for the first few months i was attending school, until i discovered the schedule2 form.
So if the government would give me IR while attending school, I should quality for debt reduction when my IR runs out. Can anybody verify this?
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momof2
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Joined: 15/August/2004
Location: Canada
Points: 792
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Posted: 05/March/2005 at 3:15am |
not necessarily...
i received the max for IR but was denied debt reduction ( which is in the process of being appealed). depends on your income...
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johnnycrunch
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Joined: 05/March/2005
Location: Canada
Points: 2
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Posted: 05/March/2005 at 11:22am |
This is sooo depressing, I graduated in 1996, and where i am from
in Nova Scotia had a very high unemployment rate, so I thought I'd go
to asia for a couple of years to teach english and get that dam thing
payed off, ($originally owed 24000), at the time my loan was with
scotia bank, well things don't alway go as planned so (long esl horrorr
story), as a result my loan went to collections as i couldn't pay
anything. I sent money whenever i could to the collection agency. I
returned to canada in 1999, moved to vancouver to find out i had cancer
(still in remission!) in 2000 applied to have my loan recoverd from the
collection agency and for debt reduction. I got good and bad news they
called my debt from the CA, but told me because i had a job no debt
reduction would occur, and interest continued to build during my cancer
treatments, ironically i had just gotten a job with the federal gov't
when this happened. 9 years later i am still owing $18000, this
is so stressful, I want to buy a home start a family, but this is
ridiculous, i am really trying to take care of this, but i see no end
in sight!!! what the heck did i go to school for? any
suggestions? should i see my mp?
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kwelmm
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Joined: 06/November/2004
Location: Canada
Points: 702
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Posted: 05/March/2005 at 1:24pm |
Johnnycrunch....you have done very well to knock off $6000 of your debt...that is great...do not give up....there is and end to all of this!! You may not see the end right now...in time my friend you will
That is awesome that you are in remission! Take care of yourself first and foremost....always...our health should be priority!!
Nice to have you around....keep coming back!!
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johnnycrunch
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Joined: 05/March/2005
Location: Canada
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Posted: 06/March/2005 at 10:13am |
thanks kwelmm, its nice to see i am not alone in this maze of bureacracy! it just gets soo frustrating, and disheartening
It almost seems like a research project to find all the programs avail
for people looking for help, sad in a way , the government should be
more proactive in this area, in my opinioin...
i wonder if momof, can provide any details of appealing a
negative debt reduction aplication, and if there is a time frame
involved? (i.e my decision occurred in 2000)
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kwelmm
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Joined: 06/November/2004
Location: Canada
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Posted: 06/March/2005 at 10:28am |
You could always email her....she would not mind...in fact she would probably ask you to herself if she knew you had questions for her. Check her profile...her email addy should be in there....
And....definitely you are not alone.....we are in the struggle together....and yes it is a maze of bureacracy!
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momof2
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Joined: 15/August/2004
Location: Canada
Points: 792
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Posted: 06/March/2005 at 12:52pm |
johnnycrunch
i'm not sure if there is any time limit for appealing your DRR decision. mine was denied last year. i phoned CSLP directly once when i was originally denied and was told no, there was no recourse. i called again maybe 6 months later and was told sure i could appeal, send the info in and they'd take a look at it. sorry i don't really have more info. you can include receipts for expenses ( like medical, funeral, home repairs, etc ) to show how seriously strapped for cash you are ( too bad they don't consier it for your original app, all they want then is proof of family income).
if you have more questions i can try and answer them, i'm usually on here a few times a day...i still haven't hear anything from my appeal, so i have no idea if these things get overturned or what. my problem is i'm stubborn so i'll keep trying - i have nothing better to do being unemployed and unable to work...
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professionals built the titanic but amateurs built the ark...
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