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I don't think I can afford to rehab my OSAP?

Printed From: CanadaStudentDebt.ca
Category: Immediate Attention and Info!
Forum Name: Urgent Help needed - Post here!
Forum Description: In a student loan crisis? Post here for help! Members! Watch for posts and will help out!
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=7352
Printed Date: 29/March/2024 at 2:14am
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Topic: I don't think I can afford to rehab my OSAP?
Posted By: ktsdebt
Subject: I don't think I can afford to rehab my OSAP?
Date Posted: 11/August/2018 at 10:52am
I really want to get my student loan out of default and go on repayment assistance. I have wanted to for the last year. I left school in 2012 and never had any ability to pay so I just ignored it and never contacted. Its a very high student loan since I dropped out of a program after two years then a few years later did a 3 year program. And of course it has just ballooned from there with interest. My min monthly payment I have in front of me that says Federal Portion Only is $1200. From what I understand there is an Ontario part as well that may even be more. I have been saving up for two years to put a lump sum down. I have 5k, and I don't think even that would cover the accrued interest. And then I'd have to pay $1200 per month until I could get on RAP. I make only a couple dollars over min wage right now. I am afraid to call them to discuss it and "re activate" collections and then be open to legal proceedings and being harrassed because I can't afford to end the default. I don't understand OSAP well enough to know what to do in this scenario. There are so many portions and agencies and acronyms. I feel like all I can do is wait a year and bankrupt. I could really use some advice.



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