𝟮𝟬𝟮𝟯 𝗨𝗣𝗗𝗔𝗧𝗘𝗦: 2:26 - As of Nov 2022 Canada Student Loan Interest is now permanently 0% yay! 😍 1:54 - OSAP loans now no longer accumulate Interest until after the Grace Period, NB provincial loans are now at 0% interest. 12:01 - Updates by province: kzitem.infoAFJa2MPWWl0?feature=share 𝗧𝗼𝗽𝗶𝗰𝘀 𝗖𝗼𝘃𝗲𝗿𝗲𝗱: 0:00 - Intro 0:50 - What happens to NSLSC loans after you graduate? 2:23 - Interest rates: Fixed vs Floating 4:30 - Repayment Terms 5:33 - Should I consolidate student loans to the LOC? 10:24 - Programs to accelerate loan repayment 16:48 - What if you can’t pay loans off? 𝗥𝗲𝘀𝗼𝘂𝗿𝗰𝗲𝘀: 1. TUITION TAX CREDITS/Student Taxes Simplified: kzitem.info/news/bejne/x6dt23aHpp6jnpg 2. UofT Financial Aid Office Module: emodules.med.utoronto.ca/DCemo... 3. NSLSC Student Loans Presentation: players.brightcove.net/245679... 4. Loan Interest Calculator: www.calculator.net/loan-calcu... 5. Student Loan Interest Tax Credit Calculator: www.debt101.ca/taxcredit If you’re an instructor who would like to access my slides, please reach out on: Twitter: twitter.com/stephanieyzhou Instagram: instagram.com/breakingbad...
@BreakingBadDebt
Жыл бұрын
Update on Provincial loan forgiveness programs: kzitem.infoAFJa2MPWWl0?feature=share
@jaslinkaur645
Жыл бұрын
To pay just a portion of your loan (i.e. only the Provincial amount), you have to send a cheque and a letter stating you are only paying one portion of your loan (along with loan number and signature) to their head office. That's what the customer representative told me.
@BreakingBadDebt
Жыл бұрын
Thanks for the update Jaslin! Really helpful!
@knotekjn
2 жыл бұрын
Very informative. Thank you so much!
@BreakingBadDebt
2 жыл бұрын
Thank you for watching and leaving a note!
@biolaa9325
Жыл бұрын
This is very informative to me and I’m not even in med school. I’m trying to apply to law school and I was wondering how will I pay off my loans. I used osap for my undergrad and masters degrees so loan consolidation is a concept I never knew of!!
@helinagebre3624
2 жыл бұрын
Thank you so much for this detailed video.. it’s so overwhelming understanding everything.
@BreakingBadDebt
2 жыл бұрын
You're welcome! Glad it was helpful!
@persephonefleury6664
2 жыл бұрын
Thank you so much for your video!! It gives me so much information! Good to know it ahead ✨
@BreakingBadDebt
2 жыл бұрын
Thanks for your support! Glad to see it was helpful!
@cy6434
Жыл бұрын
thanks for this! thinking of signing up for a loans so this was helpful
@carlost7904
2 жыл бұрын
Very informative content 👍 💯
@BreakingBadDebt
2 жыл бұрын
Thank you Carlos!
@carlost7904
Жыл бұрын
@@BreakingBadDebt Much Obliged. I have a question, is there a possibility to get in touch with you to discuss financial debt?
@AmeliaGwenStegeman
Жыл бұрын
Financial literacy curriculum! Where have you been all my medical life!
@BreakingBadDebt
Жыл бұрын
It's fairly new - I gave the first lecture for it in 2020 so that's why you may not have gotten those lectures when you were a student!
@dulangaranasinghe5624
2 жыл бұрын
This is awesome! Thank you
@BreakingBadDebt
2 жыл бұрын
Glad it was helpful! Thanks for your support!
@adeyemoadeyemi1385
Жыл бұрын
Thanks for making such an informative video but I really wants to know which private lender are the best for international students Do you have any suggestions?
@graceayo5071
Жыл бұрын
Thanks for this
@andys7099
6 ай бұрын
Thanks for such a concise and straightforward video about loan repayment! I was wondering, would you know if other people could help make payments towards one's national student loan? For my case I'm a family doctor who has paid off my loan, but my wife still has a federal student loan. I still have room to take advantage of the rural loan forgiveness program, and was hoping it could be used towards her loan. Would you know if there's a way to do this (e.g. being power of attorney for her loan)? Thanks!
@BreakingBadDebt
6 ай бұрын
For the rural loan forgiveness program - it's not a lump sum amount that gets paid to you, it is automatically deducted from your federal loan and wouldn't be transferrable to another person's loan. If you're making extra income and want to help your wife, you an always gift her money for her loan or loan her your money and she can pay you interest.
@Jessicatheriault1
4 ай бұрын
My situation is that I did not have student loan, it was a credit line so I guess it would no apply?
@GhassenOuledamor
10 ай бұрын
can you please tell me, what happen if i decide to not continue with the program? and whats the next step should i do? and how calculate my loan? the due for repay that? please
@franciscodelapena7026
Жыл бұрын
Thank you
@alexzanderpetri
Ай бұрын
Does anyone know how I can access my payment history?
@syedrizwanshah7336
Жыл бұрын
Thanks 👌
@musicenthusiast19
Жыл бұрын
Thank you very much Dr. Steph! Are students still eligible if they go to a carribean school?
@BreakingBadDebt
Жыл бұрын
Hi Music Enthusiast, it depends on the Caribbean school! OSAP has a search tool to see if your school is eligible: osap.gov.on.ca/SchoolSearchWeb/search/school_search.xhtml
@baburali8230
11 ай бұрын
Great video One part was unclear for me If I "consolidate" my loan by paying off the entire OSAP amount with my LoC, does that affect my Tuition Credit? Or will my tuition credit remain that same? Thanks
@BreakingBadDebt
11 ай бұрын
Your tuition credit would still remain the same even if you paid it off with your LOC
@baburali8230
11 ай бұрын
@@BreakingBadDebt thank you!
@rodverad27
Жыл бұрын
Fulfilling the New Brunswick Government's commitment to make post-secondary education more affordable, as of November 1st, 2022, interest on the NB portion of Canada-New Brunswick integrated student loans has been eliminated. This change benefits all current and future borrowers.
@BreakingBadDebt
Жыл бұрын
Thanks for the update Rodrigo!
@cherrybellsstories978
Жыл бұрын
After graduating from my online class for Office Administration Assistant, this July, 2022, I started applying even for online jobs only but all the companies wish to have full time employees. I realized that my health is failing due to some underlying ailments like kidney disease, hypertension and diabetes with gout arthritis, my joints and muscles began to ache and with my age, 78 years old, no company is willing to employ me. My problem now is the repayment of my loan. I am jobless and have no income up to this time. My children advised me to go home to the pPhilippines because the cold weather here in Canada could cause more deterioration to my health. How can I repay my loan in January, 2023 with my situation?
@BreakingBadDebt
Жыл бұрын
Hi Cherrybell, sorry to hear about your situation. I would recommend giving NSLSC a call to ask about repayment assistance. This is the link for more info: www.canada.ca/en/services/benefits/education/student-aid/grants-loans/repay/unable-repay.html
@tubasangar4170
3 ай бұрын
What if I pay all my loans just after graduation within 6 months?
@BreakingBadDebt
3 ай бұрын
If you have the income to pay off your loans, that's great! Just note your federal loans are presently interest free.
@fs3966
5 ай бұрын
Can a person go bankrupt on their student loans? And what happens if a person doesn't pay back their loans?
@BreakingBadDebt
5 ай бұрын
Hey, in Ontario you can only declare bankruptcy on your loans if you meet certain criteria: you have to be out of school for at least 7 years, or if you've been out of school for less than 7 years but more than 5, you can apply to the Court under hardship provisions. For more info: ised-isde.canada.ca/site/office-superintendent-bankruptcy/en/you-owe-money/you-owe-money-student-loans-and-bankruptcy
@fs3966
5 ай бұрын
@BreakingBadDebt Ok, thank you for the information. Great video, by the way.
@muntahachowdhury3767
Жыл бұрын
Hi I have a question. If i go back to full time studies and taking osap again will nslsc stop my previous loan repayment?
@BreakingBadDebt
Жыл бұрын
Hi Muntaha, if you go back to full time studies you would need to apply for the Continuation of Interest-Free Status. For more info, to see if you're eligible, and the application visit: osap.gov.on.ca/OSAPPortal/en/A-ZListofAid/PRDR019241.html
@jagdeepsran9087
Жыл бұрын
My study is ending in July if I pay loan right away, will I be charged interest?
@BreakingBadDebt
Жыл бұрын
If it's the Canada Student Loan then you won't be charged interest even if you didn't pay it right away. If it's OSAP, then interest starts to accumulate when your studies end in July but they won't ask you to start paying until November. If you paid those OSAP loans right away then no you won't be charged interest.
@Kainguyen195
8 ай бұрын
Chị là người viet nam phải không ạ
@kidult._.
Жыл бұрын
Does student loan include dorm fees?
@BreakingBadDebt
Жыл бұрын
While student loans are usually used for tuition, many students often use loans for other expenses from school such as dorm fees, textbooks, moving and food expenses to name a few...
@MT-us2ln
6 ай бұрын
Are you in medical school?
@BreakingBadDebt
6 ай бұрын
Nope! Already graduated a couple years ago!!
@biolaa9325
Жыл бұрын
Also, do you have social media. I wanted to ask some more questions over Instagram
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