Student Loan

[CanadianBoy69]

I was wondering im applying for my student loan and it asks me if i own a vechile

and i do its a mazda3 but what my question is do i have to actually show that the vechile is on my name and is financed with my credit or can i ignore it entirely

[mo_money2supe]

When they look into your background via your SIN, they'll be able to tell that there's a $20k+ car to your name. In other words, tell the truth. It'll be harder on you if you try to cover it up.

[Xtrema]

Please leave the student loan to the people who still riding transits. If you can afford a new car, you don't need a loan.

[akumajack]

I always had a vehicle when I was a student, and I always said I didn't have one when I applied for student loan. I don't think they check that hard. Apply for as much as you can possible, and you'll get a lot of free money (bursaries).

[The Cosworth]

Originally posted by akumajack
I always had a vehicle when I was a student, and I always said I didn't have one when I applied for student loan. I don't think they check that hard. Apply for as much as you can possible, and you'll get a lot of free money (bursaries).

they do, there was a guy in school who got 15 g's in loans and after a few months they found out he bought a new jetta and recalled his loans. He had 15 days to pay back 14 thousand some odd dollars.

just tell them the truth and if they dont want to give you a loan then I guess you will have to figure it out another way

[akumajack]

Hmm my car(s) were always paid off so maybe that was a different case?

[Dayclone]

I got a student loan and I drive a bimmer...

Plus government has a lot of money they just don't spend it wisely, so take advantage of this loan and plus it's no interest, and don't gotta pay back after 6 months outta school.

Great deal eh?

[akumajack]

Exactly.
Government rips your parents off, you rip the government off. Your gain.

[l/l/rX]

to make your chances even better, dont say you live with your parents. tell them you live with someone else, soo you'll have to change your address for all that shit to get mailed to and also inform your friend, because they'll most likely call n ask if you are living with them.

and also tell your parents that to, because they'll also call your parents and ask them if you are still living @ home or not.

[AhabTheArab]

Originally posted by Xtrema
Please leave the student loan to the people who still riding transits. If you can afford a new car, you don't need a loan.

umm he's probably financing the car. pretty much ANYONE can afford a 350 dollar monthly payment for a mazda 3. jease.

even working at friggin mcdonalds part time.

[Annoyingrob]

Originally posted by AhabTheArab


umm he's probably financing the car. pretty much ANYONE can afford a 350 dollar monthly payment for a mazda 3. jease.

even working at friggin mcdonalds part time.

Well, personally, If I were in a situation where I needed to take out a loan to go to school, I probably wouldn't be dumping over 4 grand a year into a depreciating asset, but that's just me. IMO, I would sell the car, put the money towards my education, then buy a car when I'm done.

My first 2 years of university, I didn't have a car at all. All my money went towards tuition.

[kongaj]

Student loans were changed this year.
HAving a car doesnt matter anymore, and they added 14% to living expenses.
Tell the truth and it wont matter

[dezmarez]

how long does the government loan process to take and all that before u actually get your money?

[Canmorite]

Originally posted by dezmarez
how long does the government loan process to take and all that before u actually get your money?

I did it online, and they said 1-2 weeks.

It ended up being 3 months. Fill out your application now, or months in advance. They aren't the quickest with your forms at the Gov't.

[dezmarez]

so its simple as that
filling out forms online?
because i have a student line of credit from a bank...
but if i could get a government loan and pay off the line of credit with that then i think that would be better then having the line of credit...

[LilDrunkenSmurf]

Student loans are the best The better you do in school, the more they write off. It's wicked. I usually try to get as much as I can... I'm a student, and car or not, I'm gonna take god damned advantage of the government...

[Supa Dexta]

you guys got it good, I had to hitch hike my final yr, 30kms each way... that really sucked..

[The Cosworth]

Originally posted by Dayclone
..... plus it's no interest, and don't gotta pay back after 6 months outta school.

Great deal eh?

I earn 49 cents a day on my Canada student loan and 21 cents a day on my Alberta one before I paid it back. So why you think there is no interest is beyond me.

The nice thing about student loans (at least mine) was that they calculated the payment over 9 years as opposed to the traditional 3 years with a bank loan

Originally posted by Supa Dexta
you guys got it good, I had to hitch hike my final yr, 30kms each way... that really sucked..

up hill in the snow both ways even in May?

[TrevorK]

Originally posted by Xtrema
Please leave the student loan to the people who still riding transits. If you can afford a new car, you don't need a loan.

Why should people who are able to budget their money and afford small luxuries be exempt from student loans and free money (grants)?

Student loans and grants should be made available to all students, regardless of their income level, to promote higher education. It's downright discriminations that people (or their parents) at higher income levels are forced to pay more for their school than their lower income counterparts.

[Neil4Speed]

Originally posted by TrevorK


Why should people who are able to budget their money and afford small luxuries be exempt from student loans and free money (grants)?

Your logic is flawed, if you have enough money for luxuries, why are you applying for loans? Grants for academic merit are different.

Why should people who work hard and budget to pay rent etc, not be able to collect welfare cheques?

Originally posted by TrevorK

Student loans and grants should be made available to all students, regardless of their income level, to promote higher education. It's downright discriminations that people (or their parents) at higher income levels are forced to pay more for their school than their lower income counterparts.

Higher income levels do not pay more, last time I checked, tuition is the same across the board.