Student Loan Payments
Unemployed or underemployed with student loans to pay off? Low income? If you are finding student loan payments difficult, check into interest relief on your loan. You are not alone! Check out the default rates for students at Ontario universities and colleges.
Interest relief: don't pay for 6 months There are income caps and you must reside in Canada. Most important, you must not be in default, so don't put it off if you are having problems. You can apply if you have missed one month – there are several recommended remedies. Check the site.
Ontario Student Loans Plan Interest Relief Program explains eligibility details and has a printable application form. The Ontario Student Loans Plan Interest Relief Program is for borrowers who have previous Ontario Student Loans but do not have Canada-Ontario Integrated Student Loans.
If you don't happen to live in Ontario, Saskatchewan, Newfoundland and Labrador, or New Brunswick, check out the Human Resources and Skills Development Canada site.
Read about one student's plight in this Toronto Star article, Post-graduate Hangover.
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