Need Advice on How to Proceed
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Forum Name: Describe your Debt Load!
Forum Description: Post stories of your debt and how it affects you and your family
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=4087
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Topic: Need Advice on How to Proceed
Posted By: kidrobot
Subject: Need Advice on How to Proceed
Date Posted: 19/February/2007 at 8:55pm
Hi There.
I currently have student loans in excess of $28,000 dollars. I am currently working as a substitute teacher. I make less than $10,000 a year. Should I be applying for interest relief? I am making payments and have not missed one yet and do not intend to, however I am wondering what options I have open to me that I should be taking advantage of. I do not see myself having full time employment for years to come due to enrollment decline. Thank you for any insights you may have.
-Erin
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Replies:
Posted By: administrator
Date Posted: 20/February/2007 at 6:25am
Yes, you should apply for interest relief and after 5 years of interest relief you can apply for debt reduction...
Mark
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Administrator
Mark OMeara
Author of Let Go and Heal: Recovery from Emotional Pain
https://LaughSingWrite.com - http://bit.ly/heal2024
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Posted By: Susan
Date Posted: 22/June/2007 at 3:32pm
I called the NSLSC, they said i had 6, 6 month periods of interest relief, and after that another 2 years. a total of five years. When i last called them they told me this is the last time i can use interest relief, and i have been on interest relief since October 2004. So, it is true i have up to five years interest relief? did the person i last spoke to not know what they were talking about?
do you need a certain amount of debt (+30000) for debt reduction? and do you need to have completed your studies? I didnt graduate and i have 10000 debt.
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