Student Loans Rant

[Cheryl Tucker]

To top a horrible month (breakup, death of a friend, very sick grandmother) I am doing my student loans to find out that I am short roughly $4000.

Why is this? Because I worked this summer and student loans is assuming my parents pay my bills, give me money to buy gas to get back and forth to work and actually give me money for the things I need. Well they dont! Thats why I work - so that I can be self sufficient.

Top that with not recieveing the $2600 I had last year in scholarships and voila student loans still gives me $2200 less than what I recieved last year. Go figure.

Anyways back on topic: have any of you had any luck with bursaries or any other ways of getting money?

I am a good student IMO (3.5 GPA, extra curriculars) and yet I still seem to never get things I apply for.

Please help! lol

[N. McKay]

Is there not some sort of reassessment done at the end of the summer? There used to be, and I managed to get my loan increased a few times that way.

[vies132]

Theres a simple solution for this problem...

Don't go to school.

Haha I'm just kidding... that sucks... hope it works out for you, sorry I don't have any advice as I haven't gone to any post secondary school.

[Gopher]

Ignore student loans and get a bank loan.

I've found the rates are an aweful lot better.

Line of credit from a bank is also a life saver.

Let's not forget......busses save on gas in a big way.

[N. McKay]

Ignore student loans and get a bank loan.

I've found the rates are an aweful lot better.

Line of credit from a bank is also a life saver.

But does a bank loan have the same advantages, like not having to pay interest while still in school?

[Gopher]

Sadly no......but I find the lower interest rate to make up for that.

This is just my experience though.

[K. Raffel]

There's still hope for you! With a 3.5 GPA, you are probablly eligible for some in course scholarships. I'm not sure what your university's policy is, but I know that some schools do not advise students of additional scholarships until the end of the summer. You may be getting money that you don't know is coming!

Have you heard of the Ayn Rand essay contest? !st prize is 5000$ US. Google Ayn Rand and the first link will be the home page. The contest details are all there, and the deadline is Sept. 15th.

[Insane Power Pilot]

I've never been involved with any kind of student loan and hopefully, I never will. I work during the summer and that covers everything. I've just finished four years and I don't have any kind of debt, I just bought a car, and I still have enough to go flying on a semi-regular basis.

I also live in my parents' basement. I guess that's the price I pay to be debt free, yes? :p

Anyway, if you can't pull enough money together, my advice is to take fewer classes and work during the school year.

[happypartyfuntime]

If I were you, I would spend lots of time looking for more scholarships, or take a bank loan. (Or if you really wanted to, ask your parents for a loan.)
Did you apply for cadet scholarships? There's a few out there.
Or cut back on the class number (it's already been said), cause then you have more time to make money to take the classes later.

[K-Hill]

I have been ranting about this same topic for some time. Right now my tuition is approx. $12,000 per year (not including books, living expenses, rent, etc.) and the maximum student loan that you can get is just over $10,000 which I am not even guaranteed to get due to the fact that I work in the summers.

A student line of credit is a decent option. You have to pay the interest while you are in school but are not required to pay any of the principal amount back until you finish.

I don't know if anything is ever going to change with student loans. Although it may not be a popular point of view, I believe that student loans should be based on the program you are doing. I attended MUN previous to going to Dalhousie and saw dozens upon dozens of people getting $10,000 worth of student loans for a year when tuition was only $1,500 a term. It seems unfair to me that a student such as myself whose tuition is 4 times that gets the same amount.

Luckily, I managed to work throughout my undergraduate degree (along with 2 cadet scholarships) and came out with my B.A. with no debt. But after my L.L.B. it looks like I am going to be $50,000 - $60,000 in debt.

Not a great start to a career!

[K. Raffel]

Perhaps it is not the best to start a career 60 000$ in debt, but think of it as an investment. By studying in your program, you invest in yourself and increase your futur potential earning power. If it wasn't worth it in the long run, you wouldn't do it. Education pays off in the long run.

[missy]

this is totally the thread for me!! So i just heard backl from OSAP yesterday and i got, we believe that you have enough financial resources to cover your eduacational costs and will therefore receive no OSAP funding. I live in my own aparment, pay my own rent, pay for my own car and make $8.00 an hour. And i get no MONEY?!?!?!? but yet people i work with are staying home, live in a two parent household who have full time jobs and get $10,000!?!?! how is this fair?!?!? my mother is a single parent and I LIVE ON MY OWN!! but yet i get nooooooooooooooooooooooo money. So thats it i guess, i have no future for my self, no college.....

[MThornback]

this is totally the thread for me!! So i just heard backl from OSAP yesterday and i got, we believe that you have enough financial resources to cover your eduacational costs and will therefore receive no OSAP funding. I live in my own aparment, pay my own rent, pay for my own car and make $8.00 an hour. And i get no MONEY?!?!?!? but yet people i work with are staying home, live in a two parent household who have full time jobs and get $10,000!?!?! how is this fair?!?!? my mother is a single parent and I LIVE ON MY OWN!! but yet i get nooooooooooooooooooooooo money. So thats it i guess, i have no future for my self, no college.....

I got that one year too....I ended up moving home to get money for school....it sucks, but they're too dumb to fix it :p

[Cheryl Tucker]

this is totally the thread for me!! So i just heard backl from OSAP yesterday and i got, we believe that you have enough financial resources to cover your eduacational costs and will therefore receive no OSAP funding. I live in my own aparment, pay my own rent, pay for my own car and make $8.00 an hour. And i get no MONEY?!?!?!? but yet people i work with are staying home, live in a two parent household who have full time jobs and get $10,000!?!?! how is this fair?!?!? my mother is a single parent and I LIVE ON MY OWN!! but yet i get nooooooooooooooooooooooo money. So thats it i guess, i have no future for my self, no college.....

Can you appeal?

[Major Fortino]

this is totally the thread for me!! So i just heard backl from OSAP yesterday and i got, we believe that you have enough financial resources to cover your eduacational costs and will therefore receive no OSAP funding. I live in my own aparment, pay my own rent, pay for my own car and make $8.00 an hour. And i get no MONEY?!?!?!? but yet people i work with are staying home, live in a two parent household who have full time jobs and get $10,000!?!?! how is this fair?!?!? my mother is a single parent and I LIVE ON MY OWN!! but yet i get nooooooooooooooooooooooo money. So thats it i guess, i have no future for my self, no college.....

You should be able to ask for a re-assessment. Perhaps you didnt quite fill the form in properly. In BC there is a section where you fill in authorized expenses (i.e. your rent, etc) and if you havent been out of high school for more than 2 years, your single mother has a form to fill out listing her financial resources. I am not sure if the application forms are the same, but I thought I would share my experience should you want it.

[Kat]

Student loans are horrible.

When I applied for mine, my estimate was ZERO because my parents made too much, yet they were not going to help me out at all (I kinda didn't take school seriously before, and they didn't believe me)

I had to take a year off, work, and save the money and then go to school.

Finally, my parents got divorced and I was given a generous (hardly) amount of $3000 for all my time spent at school (that hardly covered one year tuition)

I'd say...lie on your applications. People who I know who have done that have walked away with 11,000 and they actually live in the same area as the school with their parents (I did not...and you saw how much I got, which had to include rez).

[Bubbles]

I just completed my first year of college at Algonquin College in Ottawa and I barely survived my first year.

I lived in res where it was mandatory to purchase a food plan, pay for tuition, text books and not to mention that because my parents income was so high. The financial aid office received a letter stating that I was inelligable for OSAP.

As a result, I ended up receiving a $400 honourariam, where I received a check of $200 per semester and a scholarship from my former cadet corps of $1000 to help me pay for res.

How I went about to pay my bills and keep up with tuition was that I spoke with people that I knew up in Ottawa and back in Toronto, they helped me out with my bills with the promise that I complete my programme and there is no rush for me to pay them back.

[Lola]

My wait for student loan approval is over; I heard from them last week and I got them! I even received a student bursary of $1500.

This is one of the reasons I'm glad I'm starting school late; since I've been out of school for more than 4 years, I'm considered an independent.

[Lola]

I also live in my parents' basement. I guess that's the price I pay to be debt free, yes? :p

That's smart thinking, that is. How much would you have had if you didn't live there?

My mom is giving me free room and board. I won't be debt free, but I'll have significantly less debt.:)

[Insane Power Pilot]

That's smart thinking, that is. How much would you have had if you didn't live there?

My mom is giving me free room and board. I won't be debt free, but I'll have significantly less debt.:)

Maybe I should clarify...my parents' basement is where I currently live. I spent my university days in residence and in a rented house. However, my parents didn't want me to just pick the closest university based on the convenience and cheapness of living at home (at the time, that would have been U of Calgary) so they offered me $500 a month during the Fall and Winter semesters to help out with living expenses. That basically covered my rent and utilities. Food came out of my own pocket.

To answer your question, it's hard to say how much debt I would have if they didn't help me out. My best guess is about $10000. My first year tuition was paid for with scholarships and I cleared roughly $8000 for each summer I worked.

[Baby Ruth]

I just finished my 1st year at ABU and am nearly $10,000 in debt. I still have 3 years left. My parents live in another province, and I pay EVERYTHING on my own. I do not qualify for Student Loans because my parents make too much money yet, they do not take in to account that they also have FIVE children and FIVE grandchildren and some of them need help too. I have a Student Line of Credit with a bank but even that can be costly...for example, I pay $80/month on interest...imagine how much food I could buy with that, or pay my phone bill, or buy a bus ticket, book, etc!! This is madness!!

[Wolfmann]

It's unfortunate, but that's how life is sometimes. It tests your patience and perseverence. Remember, you can still always appeal their decision, and you still have an Ombudsman (in Ontario). I've had to appeal decisions almost every year I was in school - until my wife and I had my son about halfway through my second round of schooling.

As someone that has educated, and re-educated myself through two boughts of college and university sometimes while I was going through I just wished someone would give me the "Easy" button - the second time I had a wife and later on a family to balance, plus a dieing mother who we were helping take care of - and at times it was very, very difficult...

Adjusting your perspective can help, and make you appreciate that there are many people who are not fortunate enough to be in your position. While this doesn't help you now, maybe when you do have a family if you help prepare for their financial obligations for school you could prevent your own children from running into theses issues if you are ever fortunate to "Make Too Much".

I firmly believe that people that breeze through life, and school, aren't really learning anything...and they tend to deal with these difficulties later in life much harder than when they were young, and more resilient - and hopefully have a bigger cushion to fall back on.

But it's this sort of thing that creates the character that employers are looking for...so while it may seem tough, or difficult, know you are learning invaluable life skills.

And it could ALWAYS be worse.

[missy]

yeah, i tried the whole appeal thing no go. I had someone look over my form and go through it with me. I ended up getting $4000. I had down that my mom had one dependent child which was my little sister but OSAP still considers me a dependent child so she really had two. Still that isnt nearly enough money, that will cover one semesters expenses for me, and i still need more money to live. I would have been working still but onle part time. So needless to say, i am NOT attending school anymore.

[Wolfmann]

yeah, i tried the whole appeal thing no go. I had someone look over my form and go through it with me. I ended up getting $4000. I had down that my mom had one dependent child which was my little sister but OSAP still considers me a dependent child so she really had two. Still that isnt nearly enough money, that will cover one semesters expenses for me, and i still need more money to live. I would have been working still but onle part time. So needless to say, i am NOT attending school anymore.

That's sounds discouraging, but possibly this opens up opportunities elsewhere.

My wife was rejected by OSAP to attend Durham College to do what she is doing now. She was devastated initially because she never had an opportunity to go to post-secondary education...her family didn't support her in it, and she had no way of paying, and then when she met me she felt she was too old to go. It wasn't until we moved to the Kitchener-Waterloo area, and I used some of my own student loans to pay for her tuition that she could take it...that was almost two years after she was rejected. She's in the healthcare field and now makes more than I do, and I have higher education - but she wouldn't of if we'd settled in Durham Region.

My best friend from high school went to college, was going to take a counseling course, and she later flunked out. She took a year to figure out what she wanted from life, wasted two years going out with one of my friends, and then eventually enlisted in the Navy. She's now a cook with 1 CER in Edmonton, married to another CF member with a child and both make a very good living.

So if your plans at first don't succeed, understand that how we expect life to pan out doesn't always happen. The nice thing is that there is ALWAYS opportunities for you out there as long as you're willing to look for them.

Take this time to figure out what you want from life, what your immediate short terms goals are and how to work them into identifying long term goals.

[Kat]

If you guys can't afford it, take a year or two off to work for the money.

I had to do that, and it didn't kill me. It meant that now after graduating, I don't have any debt whatsoever.

[TheShardo]

:eek: :eek: holy crap this student loan stuff is BS. Does anyone kno if the army pays for the edcuation upfront or monthly or 2-3 installments over the semester. I'm trying to a police foundations course which is roughly $13,000 but its only 1 year. If anyone knows the rountine for getting money on this it will be greatly appriciated :D:)

[Wolfmann]

:eek: :eek: holy crap this student loan stuff is BS. Does anyone kno if the army pays for the edcuation upfront or monthly or 2-3 installments over the semester. I'm trying to a police foundations course which is roughly $13,000 but its only 1 year. If anyone knows the rountine for getting money on this it will be greatly appriciated :D:)

Talk to a recruiter.

But consider this:

Because you're going to probably a private college, aside from any bonus money the military may give you, I don't think the military will pay for your education at that rate. That's way too expensive, for the return. And they certainly usually don't do it in installments - tuitions are paid at the beginning of each year for you and it's usually a set amount for the level of post secondary you are taking.

I don't see the military paying for a college level education at more than $4,000 for a year's tuition, plus your books and ancillaries. If the recruiter has told you different, then I stand corrected.

Besides, consider why you want to spend, or have the military spend $13,000 on such a specialized program...10 Reason Not to Take a Private PF Course:

1. There's no need or requirement to take the PF program to become a police officer.

2. Police Foundations was originally designed to be part of an overal recruiting system setup by the Ontario Association of Chief's of Police and the Ministry of Education where there would be specific law enforcement entrance test that has since been quashed - the testing was seen as too rigid and excluded potential candidates who didn't take PF. LASA students are getting hired equally as PF - it's all about your character, not your education.

3. Any two year $2500-3000 a year Police Foundations program offered at a local college is more than enough.

4. Police services and the military will train you. Think about the education you want to have if you don't go that route, or want to get out and have something to fall back on.

5. Consider you are competing against University students, Class A Mechanics, and Professionals who get more points than you for their education level, and LASA and PF students because of their specialized skill get the same point consideration as 3 year diploma students. You're at the same level as someone with a 3 year accounting diploma.

6. Spending $13,000 just to get it done in one year isn't going to change anything - it won't get you hired quicker, it doesn't prepare you differently, and the quality of education at these colleges is no different than at a community college.

7. Even if your college does extra stuff and give you good quality, the police service will just put you into the same category as other applicants from community colleges...

8. Don't listen to the Hype. Despite what the school you're going to says, to compete against community colleges they're all saying this, "We're the best, police services want our graduates." It's not true.

9. There's nothing, in my eyes, that justifies spending that much money.

10. You'd be better off putting that sort of money into technology, business, or some other area that you can use later in life or later in your career...such as a year in University.

Now with that said, I think you should talk to a Recruiter discuss ALL your options and have the military train you in an area where you can use it later in life.

[TheShardo]

Talk to a recruiter.

But consider this:

Because you're going to probably a private college, aside from any bonus money the military may give you, I don't think the military will pay for your education at that rate. That's way too expensive, for the return. And they certainly usually don't do it in installments - tuitions are paid at the beginning of each year for you and it's usually a set amount for the level of post secondary you are taking.

I don't see the military paying for a college level education at more than $4,000 for a year's tuition, plus your books and ancillaries. If the recruiter has told you different, then I stand corrected.

Besides, consider why you want to spend, or have the military spend $13,000 on such a specialized program...10 Reason Not to Take a Private PF Course:

1. There's no need or requirement to take the PF program to become a police officer.

2. Police Foundations was originally designed to be part of an overal recruiting system setup by the Ontario Association of Chief's of Police and the Ministry of Education where there would be specific law enforcement entrance test that has since been quashed - the testing was seen as too rigid and excluded potential candidates who didn't take PF. LASA students are getting hired equally as PF - it's all about your character, not your education.

3. Any two year $2500-3000 a year Police Foundations program offered at a local college is more than enough.

4. Police services and the military will train you. Think about the education you want to have if you don't go that route, or want to get out and have something to fall back on.

5. Consider you are competing against University students, Class A Mechanics, and Professionals who get more points than you for their education level, and LASA and PF students because of their specialized skill get the same point consideration as 3 year diploma students. You're at the same level as someone with a 3 year accounting diploma.

6. Spending $13,000 just to get it done in one year isn't going to change anything - it won't get you hired quicker, it doesn't prepare you differently, and the quality of education at these colleges is no different than at a community college.

7. Even if your college does extra stuff and give you good quality, the police service will just put you into the same category as other applicants from community colleges...

8. Don't listen to the Hype. Despite what the school you're going to says, to compete against community colleges they're all saying this, "We're the best, police services want our graduates." It's not true.

9. There's nothing, in my eyes, that justifies spending that much money.

10. You'd be better off putting that sort of money into technology, business, or some other area that you can use later in life or later in your career...such as a year in University.

Now with that said, I think you should talk to a Recruiter discuss ALL your options and have the military train you in an area where you can use it later in life.

:wow: you've just totaly changed my mind of this course lol. btw which colleges do the course at $2-3,000 for 2 years:) . cause i wana be an MP with the option of being a police officer after the army. thanks a lot for your input :dance: :dance:

[army_gurl_74]

Try Seneca... I know someone who went there for Police foundations for 2 years and they really liked it.

I don't know how much they paid but I'm sure if you take a look at http://www.ontariocolleges.ca (http://www.ontariocolleges.ca/) you will be able to find some colleges that have police foundations.

[Wolfmann]

:wow: you've just totaly changed my mind of this course lol. btw which colleges do the course at $2-3,000 for 2 years:) . cause i wana be an MP with the option of being a police officer after the army. thanks a lot for your input :dance: :dance:

Any college in Ontario will offer a law enforcement program. Police Foundations is almost always a second year stream (after a first communal year, the LASA program breaks into a focus of security/customs or police foundations) or a graduate stream (you come back for a third year after taking the security/customs stream) to a Law and Security diploma.

In Toronto you have Seneca, George Brown, and Humber...plus a plethora of private vocational schools. The vocational schools are okay, some are very, very good...but it all comes down to return on investment - is the money a private vocational school demands worth what I will get out of it compared to what is publicly available in a commnuity college?

Remember that the military will train you in everything you need to know, and if and when you get out and get on with a civilian force, you will go to Ontario Police College (if in Ontario) and/or that services own college if outside Ontario. So having a law enforcement based education will help, but isn't always necessary.

Degrees and professional or trade qualifications (such as P.Eng., Class A Technician...etc) are more desirable mixed with a lot of life experience. The average age of a Police recruit is 28. You're young, so the more time you put in the military is generally seen as a positive from civilian police recruiters.

What you do is entirely up to you, but the important part is to talk to a recruiter, talk to a police recruiter, and decide that if policing or the military wasn't a part of your life...what would you do?

Always have a plan, and be prepared to change that plan as life unravels.

[Wolfmann]

Try Seneca... I know someone who went there for Police foundations for 2 years and they really liked it.

I don't know how much they paid but I'm sure if you take a look at http://www.ontariocolleges.ca (http://www.ontariocolleges.ca/) you will be able to find some colleges that have police foundations.

Seneca has a good law enforcement program. Humber and George Brown should both be avoided...their specialty lies in other industries.

The two best law enforcement programs in Ontario are offered at Conestoga (Kitchener) and Georgian (Orillia/Barrie). I'm a graduate of the Georgian program, and it has changed significantly. They offer LASA, Police Foundations, plus other specializations mostly out of their Orillia campus, but more technology or corporate security based programs are based out of Barrie.

[AMothfromWpg]

:eek: :eek: holy crap this student loan stuff is BS. Does anyone kno if the army pays for the edcuation upfront or monthly or 2-3 installments over the semester. I'm trying to a police foundations course which is roughly $13,000 but its only 1 year. If anyone knows the rountine for getting money on this it will be greatly appriciated :D:)

The only time the Military pays for your education is if you're an officer.
However, there is a Tuition reimbursement program that allows you to receive upto 50% of your tuition to a max lifetime amount of $8000. You do have to get preapproval for it after filing a learning plan- all in all a very long process :banghead: - that requires all original receipts, and program outlines etc.

[Wolfmann]

The only time the Military pays for your education is if you're an officer.
However, there is a Tuition reimbursement program that allows you to receive upto 50% of your tuition to a max lifetime amount of $8000. You do have to get preapproval for it after filing a learning plan- all in all a very long process :banghead: - that requires all original receipts, and program outlines etc.

That's not entirely true. They will pay for NCM's education in certain areas - usually technical or electronics areas, but you are right in that most educational programs are for officers.

There is also a signing bonus for those that are semi-skilled or skilled or have existing relevant education.

[missy]

:wow: you've just totaly changed my mind of this course lol. btw which colleges do the course at $2-3,000 for 2 years:) . cause i wana be an MP with the option of being a police officer after the army. thanks a lot for your input :dance: :dance:


Loyalist college has a good police foundations course. It's $2,500. I cant remember if thats per semester or year? my friend took it their and said it was good. Flemming is good too.

[Juice]

My first year I received about $1500 from OSAP. Top that off with a $1500 scholarship, as well as the $3500 Queen Elizabeth II Reach for the Top Scholarship (or something like that), and I managed to make it through first year. Second year, I was given only $1000 and I lost both my scholarships. I was forced to get a bank loan of $6000 (which regrettably I am still paying interest for). Even with that, it was a challenge to pay for the rest of school.

Last year, I was fortunate. Perhaps OSAP has begun to lower their standards for how much money they give out, but I received close to $7500. Top that off with the money I made at summer training, and for most of the year I fairly financially secure. I didn't have trouble paying for rent or bills, and only had to ask my parents to help me out a few times.

This year, I'm getting about $5500, and after I finish getting paid for my summer training, after all the other expenses I've incurred over the course of the summer, I'll have close to $5000, so I expect it should be another all right year.

I'm figuring by the end of my four years, I'll be around $25 000 in debt. It's high, ut not as high as it could have been, so I am fairly happy with the way it went. I'm just not looking forward to having to pay it all back...

JB

[Thib]

What are the tutitions price in the provinces you stay? I was just wondering how high they are compare to what where mine. I was able to go to college and university for sometime without needing a loan or anything else then what I was earning working.

[Juice]

My tuition price for this year is close to $4800.

JB

[Cheryl Tucker]

I need approx. $11000 for my tuiton, residence and meals. This does not include books, travel or expenses like shampoo and stuff like that.

[Juice]

I need approx. $11000 for my tuiton, residence and meals.
That sounds about right. Expensive, but pretty universal.

JB

[Kohler51]

Tuition = $5557.55:(

University makes me poor.