Is there anything I can do legally to avoid paying my OSAP loans?

[oldjones]

I absolutely agree that higher education should be free just like kindergarten. Unfortunately, that would mean we'd have to elect people who promise to raise taxes to pay for it. I'm sure that's how you voted, didn't you?

But I also believe higher education is wasted on cheating pigs who take out loans they won't pay back, in spite of giving their word. They should be forced to try to survive on the meagre, unaugmented intelligence they were born with. Clearly even free kindergarten taught them nothing. And there's the flaw in free higher education for all.

For some it's wasted money.

 

[charmer]

There used to be. Basically, you've lost the generation war. A chunk of the people who will join this thread with the "pay yer debts" chant will have had student loans that they didn't really need, that were significantly slashed when they graduated, and their tuition in those days was much more heavily subsidized than yours was.

Now that same generation of people are looking at their government pension and healthcare entitlements, and demanding that spending on education be slashed so that their own benefits won't be put at risk.

That generation absolutely ran up the national debt to extraordinary levels, with their heavily subsidized educations, and CPP/OAS and EI benefits far more generous than anything you will ever get--but now of course they think you should pay, and that you're a dead beat if you don't.

Subsidizing education is one of those things that is a very obvious economic win. A better educated individual should pay higher taxes for their whole life and easily repay the subsidy on their education, but people don't want to think about it that way.

I am a baby boomer (tail end). I went to university in the early 80s. When I graduated, I had $19,000 worth of student loans. It took me 10 years to pay it back at around $300.00 per month. The interest rate was 11%! That was considered a bargain! No, while I am white collar, I am not a doctor, or lawyer...etc. I had to hustle to find a job since there weren't many in 1983 after the leading group of BB ahead of me took them.

So fuck you and the OP...pay your debts and quit complaining.

 

[rhuarc29]

While I agree that tuition rates (and other school expenses) are fucking ridiculous now, I'm not sure why everyone else should fit your bill for your own post-secondary education. I'd rather the government step in to keep rates reasonable, rather than actually provide the funding for it. Hey, by the time I graduated university I had a debt load of near $50K...and that was working part-time during the school year and full-time on my off terms!

 

[AllishaMyst]

My brother just declared bankruptcy before christmas and was able to attach his 100 000 student loan to it. I asked him about it and he said it has to be 8 years after loan to be able to ad to his claim. That was in N.B..

 

[fuji]

I paid my way through my engineering degree working nights, weekends, summers, and a small 'regular' loan...

Actually no, your education was heavily subsidized and the lion's share was paid by the taxpayer. You only paid a token amount, unless you went to school in the 1990's or later.

 

[Brandon123]

fucking Canadian universities are thieves... Education should be free like some countries in Europe where its free for citizens and foreigners alike.

I have a huge debt from all the years in university lol

Everyone has to pay back, why should you be the exception? Plus university fees are not really that expensive compared to American Universities, you should be grateful that it's so cheap here in Canada. I paid off my university loans in 5 yrs, thank god they are gone.

 

[asterwald]

Simple. Leave Canada, and settle in another country. Just dont be too obvious or interpol might know.

 

[train]

This reminds me of an episode of Shameless where half the characters have absolutely no moral values and are just out to rip the system for as much as they can and then assign blame on everyone else, the previous generation or whatever sorry excuse they can come up with.

The Canadian undergraduate tuition fees which seem to currently range from $5 k to $10 k per year, depending on what and where, are already heavily subsidized and you want to bitch whine and then welch on that? It's not like you didn't know what they were going into it. Live up to your part of the deal hoser.

Now if you got a history degree, currently work at Starbucks and are seeing sp's or have 40,000 posts on terb just admit you are a fuck-up and get your act together. Pay back your debts.

 

[mb12ca]

fucking Canadian universities are thieves... Education should be free like some countries in Europe where its free for citizens and foreigners alike.

I have a huge debt from all the years in university lol

You mean other people should pay for your school so you don't have to, right?

 

[train]

Actually no, your education was heavily subsidized and the lion's share was paid by the taxpayer. You only paid a token amount, unless you went to school in the 1990's or later.

I went to Ontario Universities about 25 years ago and recall paying undergraduate tuition fees of somewhere between $2,500 to $4,000 per year. In today's dollars that might even be more expensive ( ie less subsidized) than fees now.

 

[rld]

I went to Ontario Universities about 25 years ago and recall paying undergraduate tuition fees of somewhere between $2,500 to $4,000 per year. In today's dollars that might even be more expensive ( ie less subsidized) than fees now.

Probably not, from what I have been reading tuition has been going up substantially faster than the rate of inflation.

 

[train]

Probably not, from what I have been reading tuition has been going up substantially faster than the rate of inflation.

In the last 5 or 10 years you are probaly correct but I doubt it over the whole period. The goverment currently funds around 55% to 60% of the cost which I believe is down from 65% in 2000 so everything else being equal that would say you are correct for that segment.

How do I know this? It's a hot topic in Quebec at the moment with striking students there despite having the lowest fees in the country. The Provincial government there kicks in more than Ontario does and they are still unhappy.

 

[Dream_State]

I went to university in the early 80s. When I graduated, I had $19,000 worth of student loans. It took me 10 years to pay it back at around $300.00 per month. The interest rate was 11%! .

I went to DeVry from 1984 to 86 and had a $10,000 loan. I too had the 10 year plan with CIBC at prime plus one which was 11%.

I paid like $130 a month for the full 10 years... once it was paid off I paid over $15,000 with that interest! I guess that seems like a drop in the bucket with the huge loans these kids have today. I know this girl who's just finishing up Med School down in the USA and she has a $300,000 loan to pay back!

 

[train]

I went to DeVry from 1984 to 86 and had a $10,000 loan. I too had the 10 year plan with CIBC at prime plus one which was 11%.

I paid like $130 a month for the full 10 years... once it was paid off I paid over $15,000 with that interest! I guess that seems like a drop in the bucket with the huge loans these kids have today. I know this girl who's just finishing up Med School down in the USA and she has a $300,000 loan to pay back!

From '86 to '96 you probably didn't have much of an opportunity to re-finance at lower interest rates the way they do today.

US tuition fees are out of sight compared to ours yet if she stays in the US medical job market she will still probably do okay.

 

[fuji]

I went to Ontario Universities about 25 years ago and recall paying undergraduate tuition fees of somewhere between $2,500 to $4,000 per year. In today's dollars that might even be more expensive ( ie less subsidized) than fees now.

$2500 in 1987 is equal to about $4500 today, while $4000 then is about $7200 now. By contrast an engineering, commerce, or comp sci degree from U of T now costs around $14000 per year. Those rates have gone up faster than other programs, but would have been charged at the same rate back then. Other programs now cost a little over $10000/year in tuition. That's just tuition, books and other living costs on top.

Also note that class sizes have increased over that period, so what you were getting in 1987 had a higher underlying cost per student / current students are getting less for the higher price they pay.

Assuming your 2500-4000 range somehow related to more/less expensive programs, it looks like today's students pay about twice what you did, and get less for their money.

 

[spankingman]

So you want to default on money MY taxes went to!!!!! This generation has no accountabilty Oh well I'll just not pay it who cares. move to Europe etc BUT it's the rest of us who end up paying in the long run. YOU borrowed the money YOU pay it BACK!!!!
Not paying a Govt. loan will HAUNT you for many years to come. Try applying for a Govt job "Oh you owe us x number of $$ sorry NEXT!"

PAY WHAT YOU OWE!!!!!

 

[james t kirk]

$2500 in 1987 is equal to about $4500 today, while $4000 then is about $7200 now. By contrast an engineering, commerce, or comp sci degree from U of T now costs around $14000 per year. Those rates have gone up faster than other programs, but would have been charged at the same rate back then. Other programs now cost a little over $10000/year in tuition. That's just tuition, books and other living costs on top.

Also note that class sizes have increased over that period, so what you were getting in 1987 had a higher underlying cost per student / current students are getting less for the higher price they pay.

Assuming your 2500-4000 range somehow related to more/less expensive programs, it looks like today's students pay about twice what you did, and get less for their money.

Don't know where you are getting 14 grand for an undergraduate engineering degree.

My quick google search came up with 11 grand for U of T and about 9 and Change for McMaster.

http://www.discover.engineering.utoronto.ca/money-matters/fees.htm

Not cheap, but not over the top either.

If you work 40 hours a week in a summer job at 16 bucks an hour, you can bring in 10 grand. Sure would go a long way.

 

[LKD]

btw thanks for all the advice.. just trying to figure out a quick way I can get rid of it. I got about $60,000 in OSAP loans... let alone about $30K that I borrowed from family and brother for living expenses etc. There is no amount of abstinence from hobbying that could've helped me in paying off that debt. I don't see much SPs to begin with, even less these days.. I usually do my hobbying in Europe where its much cheaper xD

so.. let's seriously talk about quick ways to make money because this job I have right now just isn't cutting atm. Is gambling a good way? I don't like gambling, nor have plans to take up on it permanently... might do it if it would help me cut this debt.

 

[punter]

Emmigrate to another country.

 

[fuji]

Don't know where you are getting 14 grand for an undergraduate engineering degree.

Oops, I thought engineering was included in the tier 1 tuition rate at U of T, which is $14000. Commerce, computer science students pay that rate. I thought engineers too, but you're right, it turns out they're in the tier 2 pool at $11,775. U of T fees for engineers are here: http://www.provost.utoronto.ca/link/students/fees13/dom_ase.htm?quot; title=