student loan auditing

[dj_honda]

has anyone here been audited for their student loans?

i am curious...

[roopi]

:clap: I have!

[saiyajin]

Originally posted by roopi
:clap: I have!

....and so..what happend?

[roopi]

Not much. It happened about 2 months before I graduated. They weren't to happy finding out that I did have assets under my name when I claimed I had no assets. If you claim you have assets they usually expect you to sell them. Anyways they asked for some additional paperwork and thats about it. I think since I was graduating in 2 months they really didn't bother doing a whole lot about it.

[dj_honda]

so did they ask for receipts and stuff to justify say personal expenses, or transportation costs?

also, did you drive to school? if so, would claiming insurance under transportation be okay?

they also say to send them in writing a letter if you make more money than you expect etc. in a month. anything like that?

and nothing happened about the whole assets thing?

[roopi]

Originally posted by dj_honda
so did they ask for receipts and stuff to justify say personal expenses, or transportation costs?

also, did you drive to school? if so, would claiming insurance under transportation be okay?

they also say to send them in writing a letter if you make more money than you expect etc. in a month. anything like that?

and nothing happened about the whole assets thing?

They just asked for some info on some RSP's I had.

If the car is registered in your own name and it is worth a fair amount they will expect you to sell your car and buy something cheaper to help pay for your school.

They couldn't really do much about the assets thing because I was 2 months from graduation and by the time the entire audit was done I'd already finished school. I was entering repayment so they were out of luck.

I take it you are being audited?

[sml]

Originally posted by roopi

I take it you are being audited?

Or maybe he's thinking about LYING on his student loan and he wanted to make sure the PO ain't gonna be kicking his house door down a few months down the road!!! :rofl:

[dj_honda]

Originally posted by sml


Or maybe he's thinking about LYING on his student loan and he wanted to make sure the PO ain't gonna be kicking his house door down a few months down the road!!! :rofl:

hey man, your brother told me to do it!
j/k haha.
no i am not thinking of lying, haven't even applied yet actually.
just curious if i should be keeping all my receipts and stuff, and how strict they are about stuff.
and whether claiming my 300$+ a month insurance as well as gas and parking under transportation is okay. i mean the government is screwing me over for insurance, seeing as i have a clean record, so i figure i may as well take as much advantage as i can

my car is a pos i doubt it would count for anything.

[Seanith]

Originally posted by dj_honda


my car is a pos i doubt it would count for anything.

Does your car have supra rims and spew out a cloud of smoke when you start from a stop? if so i was behind you today and you really need to get your fucking car fixed man :rolleyes:
If not, ignore that message :thumbsup:

[dj_honda]

Originally posted by ~$eanith~


Does your car have supra rims and spew out a cloud of smoke when you start from a stop? if so i was behind you today and you really need to get your fucking car fixed man :rolleyes:
If not, ignore that message :thumbsup:



yea thats my car! the exhaust isnt the problem. the valve stem seals went hard. i'll fix it when i have time. and if the cars a problem, you can vouch for me, its a pos!

i dont know what else the prob could be. started doin it this past week, after driving it for a year. basically just now when the temperatures have started to drop.

[Seanith]

i thought i was going to get poisoned from the gases :(

[DarkDream]

I think the max you can get from like housing and transpotartion,, Rent... Pretty much living expenses can go up to 350/mth Maximum

[Xtrema]

It's been a decade since my student loan days. The only advice I can give you is, the loan is for education, don't spend it all partying it up.

You'll regret it later.

[96Mx6]

Heh, interest free loans, I worked my ass off in the summer and paid for my school, I then used the student loan money to buy a computer, and some toys. Then I invested the rest of the money in some mutal funds and GICs. If someone will give you money interst free, take it. Oh yeah, I then found out it was illegal to invest student loand money. Or at least thats what the bank branch lady said.

[Tux10]

If you get audited for your Student loan it means BAD NEWS!

My friend originally got $8000 from remission (which is the amount they deduct off your student loan based on what they thought the schooling should have costed) so thats $8000 in free money.... Then they sent him an Audit letter and he ended up having to pay the $8000 back along with any bursuries that he had gotten over the years.