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NSLSC online payment adjustment

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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!
Printed Date: 23/September/2020 at 12:18pm
Software Version: Web Wiz Forums 12.03 -

Topic: NSLSC online payment adjustment
Posted By: Radagast
Subject: NSLSC online payment adjustment
Date Posted: 20/March/2019 at 7:09pm
After recently getting a raise I decided to try to pay off my OSAP sooner. So I logged in and tried to adjust my payments.

However, for some reason, when I make any change in the calculator the cost of borrowing skyrockets.

For example, increasing my current payment by $5 puts my cost of borrowing up by $360 and actually ADDS a month to my repayment term, even though I'd be paying more than I am now!

Does anyone else have this issue or know what is causing it? I'd like to get this paid off sooner, but not if it's going to COST me money to do so!

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