Suggestions for Improvements for Student Loan Programs

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Have no interest rate at all :)

Printed From: CanadaStudentDebt.ca
Category: What Needs to Change?
Forum Name: Suggestions for Improvements for Student Loan Programs
Forum Description: Make suggestions for rule changes etc
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=3869
Printed Date: 26/March/2026 at 10:30pm
Software Version: Web Wiz Forums 12.07 - https://www.webwizforums.com

Topic: Have no interest rate at all :)

Posted By: Staretz
Subject: Have no interest rate at all :)
Date Posted: 18/October/2006 at 8:35am

1. no interest rate on the loan, which i suppose would make it a grant rather than a loan

2. tax deduction on the payments. maybe at the current 17% or whatever it is for interest payments on student loans.

Replies:

Posted By: Teri Smith
Date Posted: 23/February/2007 at 4:27pm

I agree with no interest rate. Have you ever noticed that the poorer you are the more people want to take from you? If you fall into hardship, the credit company will increase your interest rate, really not helpful is it? The government should be happy that the return they get on helping students get their education is a more productive and healthier population.

Teri

Posted By: pogorelichfan
Date Posted: 24/February/2007 at 5:44am

It seems to me that making us pay back the cost of our education is enough; no need to hit us over the head with nearly 10 percent interest!

Posted By: ChumbaWumba
Date Posted: 10/July/2007 at 3:40am

I totally agree about the interest rate. I'm still paying my loan after 11 years, during which I have never defaulted. I have a mortgage, car and excellent credit. I called today to see what the interest rate is and what I needed to do to get it lowered. FRUITLESS. She actually had the nerve to tell me I needed a GUARANTOR to move the interest rate down .5%!!!!

I cannot believe the government is allowing the banks to financially rape students in this country. We need an educated population and yet they offer absolutely no decent programs to help students acheive. Apparently, you should only have the opportunity of further education if you are wealthy. Isn't that special?