Have you tried customizing your repayment terms? You can usually decrease your monthly payment by extending the repayment length but it means it will take a bit longer to pay back with a bit more interest thrown in.
This document explains step by step how to do this through your NSLSC account: https://www.csnpe-nslsc.canada.ca/NSLSCStaticSite/media/Loanstar/additional-resources/How-to-Customize-My-Payment-Terms_E.pdf
If it’s Federal Loans, there would be no interest, yeah? Always best to pay off the provincial portion asap for that reason, especially with the nearby 8% interest rate now. Can’t pay off only the provincial portion online, but you can by cheque.
https://www.reddit.com/r/osap/s/qMX8zMFqmI
OP can also ask them to split up the loans to pay the Provincial one off faster.
You can go online and on your account you can change how much you are repaying. I think the lowest I could change mine to was $225 which isn't much but it helps!
Oh fuck dawg . Over how many years?? Uni or college , did you further your education after undergrad? Ik I'm asking alot but this gives me an idea on what to be ready for
UPDATE: Called NSLC today and they basically gave me the option to just pay interest of $10/month for 6 months and then reassessing after that. The operator on the phone also recommended that in the meantime when I can, I should make lump sum payments to reduce the overall total in December, which I do plan to do, she could not afford the $350 a month right now. Hope this helps!
What’s ur income? I am have to start paying osap back
net is $3900 - gross $5200.
Did you call them?
Have not had a chance to call them yet. Planning to Friday - been a hell of a busy week. Will post what they said.
Have you tried customizing your repayment terms? You can usually decrease your monthly payment by extending the repayment length but it means it will take a bit longer to pay back with a bit more interest thrown in. This document explains step by step how to do this through your NSLSC account: https://www.csnpe-nslsc.canada.ca/NSLSCStaticSite/media/Loanstar/additional-resources/How-to-Customize-My-Payment-Terms_E.pdf
If it’s Federal Loans, there would be no interest, yeah? Always best to pay off the provincial portion asap for that reason, especially with the nearby 8% interest rate now. Can’t pay off only the provincial portion online, but you can by cheque. https://www.reddit.com/r/osap/s/qMX8zMFqmI OP can also ask them to split up the loans to pay the Provincial one off faster.
I actually tried doing this and says I am not eligible to adjust payments for some reason. I think I will call NSLC tomorrow and ask about my options.
You can go online and on your account you can change how much you are repaying. I think the lowest I could change mine to was $225 which isn't much but it helps!
Holy smokes . Not anyone's business but jw hm Is yalls loans...asking out of curiosity because I'm in my 1st year of college so far owe 2k...
37k lol
Oh fuck dawg . Over how many years?? Uni or college , did you further your education after undergrad? Ik I'm asking alot but this gives me an idea on what to be ready for
1 year college, 4 years Uni undergrad
I'm cooked Broski. I gotta get some scholarships 😂😂
what’s your income? they rarely deny RAP
net is $3900
Do you have a live in partner? They also consider their income. They consider total household income, not just yours.
No I do not thats why I am very confused.
UPDATE: Called NSLC today and they basically gave me the option to just pay interest of $10/month for 6 months and then reassessing after that. The operator on the phone also recommended that in the meantime when I can, I should make lump sum payments to reduce the overall total in December, which I do plan to do, she could not afford the $350 a month right now. Hope this helps!