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KimM
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Joined: 02/June/2004
Location: Canada
Points: 148
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Topic: IR on CSLP with OSL in default Posted: 08/January/2005 at 10:47am |
Is it possible to get IR on my CSLP which is currently in good standing while my OSLs are in default? This is bad I know...
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Nehemiah 5:7 Then I consulted with myself, and I rebuked the nobles, and the rulers, and said unto them, Ye exact usury, every one of his brother. And I set a great assembly against them.
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kwelmm
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Joined: 06/November/2004
Location: Canada
Points: 702
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Posted: 08/January/2005 at 2:53pm |
They are separate application forms for each one for interest relief...so, I can't see why the OSL default would influence your eligibility for interest relief with the CSL!
I was in default with my CSL and still qualified for interest relief with my OSL.....you should be okay unless things have changed that much 
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KimM
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Posted: 09/January/2005 at 11:27am |
Thanks K. I guess I was thinking there was a grande "restricted list" for all SLs. I tried looking it up on the NSLC website but seemed to go in circles.
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Nehemiah 5:7 Then I consulted with myself, and I rebuked the nobles, and the rulers, and said unto them, Ye exact usury, every one of his brother. And I set a great assembly against them.
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KimM
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Location: Canada
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Posted: 10/January/2005 at 5:08am |
My CSL was for the school year 2000/2001. NSLSC confirmed that I am eligible for IR even though my OSL is in default. Loans after 2001 I don't know what happens. It looks like there may be an integrated CSL-OSL and therefore maybe one restricted list(?)
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Nehemiah 5:7 Then I consulted with myself, and I rebuked the nobles, and the rulers, and said unto them, Ye exact usury, every one of his brother. And I set a great assembly against them.
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kwelmm
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Joined: 06/November/2004
Location: Canada
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Posted: 10/January/2005 at 10:00am |
Kim...that's great to hear Yah, I'm not sure how they handle the integrated loan interest relief??? I guess that is one good thing about the old way--the two are separate, and therefore, each considered separately for IR!!
Again...good news 
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KimM
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Joined: 02/June/2004
Location: Canada
Points: 148
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Posted: 11/January/2005 at 6:16am |
Keeping my CSL in good standing gets me my income tax return. I understand that the Ontario government can/will take it too. They haven't so far but since I haven't been paying on the OSLs these past 10 months I guess I will have to wait and see what will happen this year. Thanks again K.
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Nehemiah 5:7 Then I consulted with myself, and I rebuked the nobles, and the rulers, and said unto them, Ye exact usury, every one of his brother. And I set a great assembly against them.
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