Category Archives: Student Loan Debt

I have a young friend who is thinking about going back to school. He called me up to ask me if it would be a good idea. I think he expected me to rubber-stamp his decision because, as he put it, “it’s good debt, right?” Maybe. Maybe not. Student Loans… Read more

Having the ability to utilize the credit system in Canada is a common way to pursue an education and pay your living expenses while in school, all without needing a small fortune in reserve cash. But while having some student loan debt and consumer debt in minimal amounts may not… Read more

For a number of people seeking student loan debt relief, bankruptcy might seem like the only debt solution. But is it, really? In general, your student loans will only be discharged in a personal bankruptcy in Canada if you have ceased to be a student (full or part time) for… Read more

Question: I have not been a student for more than 4 years. The last time I went to college it was for one year and I flunked out but I didn’t use OSAP. From that time I have gone bankrupt. I got discharged this year from my bankruptcy. I can’t… Read more

Question: My case is a bit particular. I’ve started my studies in 1992 at a college, got OSAP (Ontario and Canada Portions) loans, everything was fine until 2 yrs after in 1994 that I had to leave my studies due to a family emergency. I was away for college, after… Read more

Question: I have a question about Canada student loan forgiveness rules. According to changes to the Bankruptcy & Insolvency Act, a bankrupt person who has been out of school for five or more years may apply to a court to be discharged from their student loans. I am a Canadian… Read more

Question: I currently have collection agencies calling me off the hook demanding money after defaulting on my student loan. Most recently I gave birth to what I thought would be a healthy baby boy but I found out differently. My question for you is what are my options. I am not working… Read more

Question: I have already been paying the minimum payments ($156/month – mostly interest very little principle) on my student line of credit since January. The LOC was for $17,300. In October I will begin repaying my government student loan ($286/month). I’ve done the math and there is no way I… Read more

Question: I went to college more than 10 years ago and OSAP has been after me ever since to repay my student loans. Although I would have liked to repay these loans I found it difficult to find good employment and now I am on disability and still cannot afford… Read more