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Overseas with a family and substantial loans

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Forum Name: Urgent Help needed - Post here!
Forum Description: In a student loan crisis? Post here for help! Members! Watch for posts and will help out!
URL: http://www.canadastudentdebt.ca/forum_posts.asp?TID=7360
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Topic: Overseas with a family and substantial loans
Posted By: Leeroy Jenkins
Subject: Overseas with a family and substantial loans
Date Posted: 26/October/2018 at 2:47pm
I studied overseas with my wife and will be graduating soon with a large debt. We have had a child and I will be looking for internships in my current city. While these will pay they will barely cover living costs while my wife completes her degree.

I have a Canada Student Loan that is around 5k and a Canada-British Columbia Integrated Student Loan well over 40k. While I could manage the first, the second is rather unmanageable while I'm supporting two dependents. I want to come up with a plan before I graduate. I know that I can reduce monthly payments but I don't know if I can take advantage of the repayment assistance program. We currently don't have any plans to move back to Canada. While I hope to secure a good job in the future, I don't expect to be in a good financial situation for several years.

What options should I be looking into at this time?



Replies:
Posted By: edwards
Date Posted: 20/November/2018 at 3:29pm
Originally posted by Leeroy Jenkins Leeroy Jenkins wrote:

We currently don't have any plans to move back to Canada.

Just let them know that you do not have financial resources for the moment.
My 2 cents is that, just leave it unpaid it's a bad idea. Even if you do not plan to move back to Canada, it may hurt you in the future in your new country.



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