有关STUDENT LOAN (GRADUATE OSAP)
- 主题发起人 简简简
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SpongeBoob
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- 2006-07-27
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If the rules have remained the same for the last 3 years, then it's about this,
1. Based on your total household income, your expenses, your assets (car, deposit in the bank), etc, you will be allowed to borrow up to this amount for the duration of your study of that academic year, 2 terms or 3 terms. Then any amount above $7000 for 2 terms, or above $10500 for 3 terms are waived, which means you are not required to pay back those amount beyond $7000 or $10500. Also you will get some student grant if you have child/ren.
2. When you finish your study or change status from full-time to part-time, you are required to pay back the loan. You will be given 6 month grace period, during which no repayment is required, however, don't forget, however you are charged the hefty interest on it. You will be mailed a consolidation notice before the end of grace period, and your first repayment will begin at the end of the 7th month. You have the choice to pay off the total interest accumulated for the 6 month grace period, or have it added to the principal and pay back later. If you choose later, you will lose the tax credit for that interest amount for that tax year.
Basically that's it. Good luck. Student loan is a very complicated issue, and you will find difficult to get a consistant response for the national loan centre.
1. Based on your total household income, your expenses, your assets (car, deposit in the bank), etc, you will be allowed to borrow up to this amount for the duration of your study of that academic year, 2 terms or 3 terms. Then any amount above $7000 for 2 terms, or above $10500 for 3 terms are waived, which means you are not required to pay back those amount beyond $7000 or $10500. Also you will get some student grant if you have child/ren.
2. When you finish your study or change status from full-time to part-time, you are required to pay back the loan. You will be given 6 month grace period, during which no repayment is required, however, don't forget, however you are charged the hefty interest on it. You will be mailed a consolidation notice before the end of grace period, and your first repayment will begin at the end of the 7th month. You have the choice to pay off the total interest accumulated for the 6 month grace period, or have it added to the principal and pay back later. If you choose later, you will lose the tax credit for that interest amount for that tax year.
Basically that's it. Good luck. Student loan is a very complicated issue, and you will find difficult to get a consistant response for the national loan centre.
SpongeBoob
新手上路
- 注册
- 2006-07-27
- 消息
- 33
- 荣誉分数
- 0
- 声望点数
- 0
3. Even you have started the repayment process, you can apply for interest relief, one application will get you 6 month long period of no interest, based on your income compared with their income threshold on a weekly basis. It depends on how much you make, how much you are asked to pay back, how many persons in the household. You can reapply at the end of the 6 month if your income hasn't improved a lot.
4. Other than the interest relief, you can also apply for the waiver of some of the principal. That is not as easy as No.3
Check all the details at www.osap.org
4. Other than the interest relief, you can also apply for the waiver of some of the principal. That is not as easy as No.3
Check all the details at www.osap.org
SpongeBoob
新手上路
- 注册
- 2006-07-27
- 消息
- 33
- 荣誉分数
- 0
- 声望点数
- 0
Spongeboob 是谁 
[/B][/QUOTE]
It's me!
The one with sponge boobs.....
[/B][/QUOTE]It's me!
The one with sponge boobs.....
