Note: Site has been upgraded so 'Temporary Site Suspensions' should not longer occur.
  New Posts New Posts RSS Feed - Letter sent to HRSDC Director of Student Loans
  FAQ FAQ  Forum Search   Register Register  Login Login

Letter sent to HRSDC Director of Student Loans

 Post Reply Post Reply
Author
administrator View Drop Down
Admin Group
Admin Group
Avatar

Joined: 25/January/2003
Points: 1784
Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Topic: Letter sent to HRSDC Director of Student Loans
    Posted: 02/April/2009 at 10:10am

I have a couple of questions and concerns about the New RAP program.

1)      When will information be available?  Students are graduating this month and need to plan their finances.  When will program information and eligibility information be made available?

2)      The information on the Canlearn website says that Gross Income will be used. As stated in previous letters to HRSDC this is not an appropriate measurement of a person’s income available.  As in previous submissions, I recommend you change this to Net Income.

3)      The information on the Canlearn website says that the previous year’s income will be used to determine eligibility. How will a recent graduate’s income be determined. Also, if someone loses their job, has a significant decrease in income, works on contract, or is self-employed,  how will the program account for this?

4)      Will borrowers who are in default be eligible for this new program? Please note that in 2003 there was a higher than usual cohort of defaults due to the automated payment system going off line.  These people were defaulted through no fault of there own, and it has come to my attention that at one bank, student loan borrowers were defaulted by managers to remove the negative charges against their bonuses, and there were serious mistakes made by the NSLSC causing unwarranted defaults.

5)      Your website says that all borrowers will transition to the new system. Does this mean that the 15 year payment cap will be applied to these borrowers as well?

 

Could you please provide an answer to these questions ASAP. 

Administrator

-------------

Mark O'Meara

Back to Top
Sponsored Links


Back to Top
Madmorrigan View Drop Down
Groupie
Groupie
Avatar

Joined: 09/March/2005
Location: Canada
Points: 177
Post Options Post Options   Thanks (0) Thanks(0)   Quote Madmorrigan Quote  Post ReplyReply Direct Link To This Post Posted: 02/April/2009 at 2:00pm
5. (b) If it DOES apply to "all borrowers", when does the 15 years start? 
Back to Top
 Post Reply Post Reply
  Share Topic   

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 11.08
Copyright ©2001-2017 Web Wiz Ltd.