Is there anything I can do legally to avoid paying my OSAP loans?
- Thread starter LKD
- Start date
Class of '97... And yes, I am aware education is subsidized; although not as heavily as it once was.
Would you feel better if I said that I paid for my own portion of my education?
Unless your job finances your trip to Europe cut your expense on air
tickets by keeping the hobby local. Consider semimonthly visit to a holistic
rub-n-tug MP instead. That may cost you only $120/month if you just go for a
basic+HJ 30 min session.
Gambling is a time proven way to lose money big time. Gambling in a casino
or Bay street could leave you destitute for life. There are ways to make extra
money (legally) depending on your background. But the very first step to take
is for you to adapt to a frugal lifestyle.
Class of '97 then you were significantly less heavily subsidized than people who graduated 20 years earlier.
My claim about education is that it is right that it is subsidized, or at least, subsidized for people who have trouble paying for it.
If you have someone who is capable of getting a comp sci degree, and then they go and become a taxi driver instead, because they can't afford the tuition--well, what you just subtracted from future tax revenues is an enormous loss that dwarfs what it would have cost to subsidize that person's education. The difference between a typical IT salary and a typical taxi driver's income is $12 to $15k additional taxes that will be paid every year by that individual for the rest of their life, versus less than that every year for four years to put them through that program.
Now if you want to point out that we are sending people to university for things that don't really translate into future employment, sure, that's a problem. That's why our current subsidy model is exactly backwards. We subsidize educations that lead to no employment much more heavily than educations that lead to well paid employment. It should be the reverse, if anything.
As a recent graduate school is expensive but there are so many cost cutting measures. Im lucky that my parents paid for my education and the only OSAP loan i have is 4200. If you live on res and eat from campus all the time your gonna bill up 20 000 a year cost, after first year I lived at home where I was left to pay tution of about $7000 a year and then add on $1600 for my bus pass for the year and $1600 for textbooks for the year. So a total of 10 200. Compared to my friends whose rent and food costs would be $6800 a year instead of the $1600 i paid for bus passes. Obv in some situations you gotta go far, but if you can take the opperutnity to stay at home do it, esp if your getting a BA or something. Dalton gives back 1600 a year now too, so that lowers costs a bit.
Damn, doesn't anyone work during university any more, even during the summer?? Lazy kids. It's what OSAP does to people I guess.
In the 90's I'm pretty sure my tuition was < 5K a year, and I made around 10K. Rent $1600 total for four months..
If I was graduating with over 50K in debt these days it would have to be due to postgrad studies that are going to help my earning potential.
In the 90's I'm pretty sure my tuition was < 5K a year, and I made around 10K. Rent $1600 total for four months..
If I was graduating with over 50K in debt these days it would have to be due to postgrad studies that are going to help my earning potential.
try work when you spend 8-10hours a day in classes, have tons of assignments to to do given by profs who themselves can't even manage their own time
without going into what I studied, my program was one of the most intensive among university programs. Many students could've juggled work while taking other programs, but everyone in my program was specifically adviced not to take up any part-time job during uni semester. We had about 40hrs of lectures a week alone, let aside time having spent doing assignments, readings, projects, presentations, fieldwork, excursions etc. I've probably missed more sleep in one semester than many will ever in their life xD
also, my program took 5+ years to complete, with no summer's off beside exchange semesters that ended up costing more, and is waaay longer than most other programs hence the 60K+ debt.
now ... where is that kind cougar who will free me off my shackles? xD
http://family.utoronto.ca/Academic-Matters/Workload.htm
http://www.ctv.ca/CTVNews/TopStories/20090921/dropout_university_090921/
summer jobs increasingly hard to find when students are competing with adults with more career and job experience looking for jobs
OK...but doctors in the US..are not handcuffed like the canadian doctors are....their earning potential is unlimited...whereas canadian docs have their income capped....unless they specialize.....
Ontario heavily subsidizes university education. If one looks at University of Toronto fees per year for an undergraduate in Arts & Science for 2012:
Yearly fees for Ontario residents: $5,695. (room and board is an extra $10,695, so fees + residence would be $16,400 for Ontario students)
Yearly fees for International students: $28,409 (room and board is the same I think - so add $10,695 to get a total of $39,100 for Intl students)
International students pay more than 4x the fees of the Ontario students.
In the U.S. at public/state universities like Penn State:
Yearly fees for a PA resident: $16,000
Yearly fees for a non-PA resident: $29,000
Private University like Princeton (no subsidies):
Yearly fees: $38,650 tuition ($54,750 including tuition and room and board. Room & board at Princeton is $12,600)
So an Ontario student looking for room and board and picking between UofT and Princeton would face total package pricing of:
UofT: $16,400
Princeton: $54,750 (good thing the US$ is at par these days)
A bargain can be had if you are from Toronto and live at home while in school as then you can pay the basic Ontario resident fees of $5,695 per year to go to UofT. Sure, Princeton is nice, but UofT is nice too and how much debt for a BA would you rather pay: $5,695 a year or $54,750 a year? Both UofT and Princeton require high grades from high school to get in. Princeton has more prestige, but in some areas UofT is right up there with most of the U.S. ivy league schools. Harvard ranks higher, but UofT often holds its own against Yale and Princeton. Even assuming Princeton is a bit better, is it worth the premium for a 4-year undergrad history BA? I don't think so.
Yearly fees for Ontario residents: $5,695. (room and board is an extra $10,695, so fees + residence would be $16,400 for Ontario students)
Yearly fees for International students: $28,409 (room and board is the same I think - so add $10,695 to get a total of $39,100 for Intl students)
International students pay more than 4x the fees of the Ontario students.
In the U.S. at public/state universities like Penn State:
Yearly fees for a PA resident: $16,000
Yearly fees for a non-PA resident: $29,000
Private University like Princeton (no subsidies):
Yearly fees: $38,650 tuition ($54,750 including tuition and room and board. Room & board at Princeton is $12,600)
So an Ontario student looking for room and board and picking between UofT and Princeton would face total package pricing of:
UofT: $16,400
Princeton: $54,750 (good thing the US$ is at par these days)
A bargain can be had if you are from Toronto and live at home while in school as then you can pay the basic Ontario resident fees of $5,695 per year to go to UofT. Sure, Princeton is nice, but UofT is nice too and how much debt for a BA would you rather pay: $5,695 a year or $54,750 a year? Both UofT and Princeton require high grades from high school to get in. Princeton has more prestige, but in some areas UofT is right up there with most of the U.S. ivy league schools. Harvard ranks higher, but UofT often holds its own against Yale and Princeton. Even assuming Princeton is a bit better, is it worth the premium for a 4-year undergrad history BA? I don't think so.
When I visited the UofT bookstore last month after a 5 years absence
I noted to my horror that textbooks (in science) had became so eye-popping
expensive that students have to rent their books these days. Had inflation
of the prices of necessities moved in the same pace a lot of people couldn't
even have afforded their food expense.
I noted to my horror that textbooks (in science) had became so eye-popping
expensive that students have to rent their books these days. Had inflation
of the prices of necessities moved in the same pace a lot of people couldn't
even have afforded their food expense.
LKD, just curious: can you pay off in full the OSAP loan with a lower-interest loan (say, secured by a home)? Then pay that lower-interest loan on a monthly schedule? From what I understand, OSAP loans carry a higher rate of interest than a home equity loan or line of credit...
Maybe speak to one of those debt repayment agencies that help you manage your debts.
Go with a reputable one or maybe speak to a few.
Not sure if they could negotiate for a reduction in a government related debt but worth a try.
Since I started paying back my loans, been getting lots of calls from these guys but never spoke to any of them.
Go with a reputable one or maybe speak to a few.
Not sure if they could negotiate for a reduction in a government related debt but worth a try.
Since I started paying back my loans, been getting lots of calls from these guys but never spoke to any of them.
I was wondering the same thing, most are able to work but choose not to. I worked all through University loading trailers and did well in class, paid my own way and graduated with no debt. I had a few friends who did not work, partied a lot more than I did, and survived on student loans, it's all about the choices you make.
