RAP Eligibility
Printed From: CanadaStudentDebt.ca
Category: Government Program Problems
Forum Name: Repayment Assisstance Plan (RAP) Issues
Forum Description: Rules, regulations and problems (Formerly Interest Relief and Debt Reduction)
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=5582
Printed Date: 27/March/2026 at 3:46am
Software Version: Web Wiz Forums 12.07 - https://www.webwizforums.com
Topic: RAP Eligibility
Posted By: Kuromaru
Subject: RAP Eligibility
Date Posted: 03/January/2010 at 1:26am
Hey, I have a couple of questions:
a little about me; in repayment for just about 30 months now, and am in good standing. I live overseas with my wife and newborn son.
1. Why must I reside in Canada? I am still paying for loans I received while I lived in Canada and my repayment interest rate floats with Canadian prime.
2. What would happen if I claimed to be a resident using my old/mother's address in Canada? Would it just mean I would have to file taxes as a resident? (oh what a sticky web I weave... I guess I would then have to pay BC medical for coverage too, those ****!) After all, the CCRA counts you as a resident for reasons such as this.
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Replies:
Posted By: Kuromaru
Date Posted: 03/January/2010 at 6:33pm
Well checking with CRA, I am a resident for tax purposes.
In that case, would it be possible to apply for RAP and then increase my monthly payment to what it is now? That would essentially allow me to make payments directly towards the principal while the government pays the interest. Doing that I could fully pay off my loan within the 5 years RAP will support me.
Wrong?
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Posted By: administrator
Date Posted: 04/January/2010 at 5:02am
That would through the bureacrats into a tizzy and cause them to re-evaluate the RAP program eligibility criteria. Correct me if I'm wrong, but I dont think there is a 5 year limit on RAP.
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Administrator
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Posted By: Kuromaru
Date Posted: 04/January/2010 at 12:25pm
I guess my question is whether or not I can still personalize my repayment terms after entering RAP.
I read RAP is 15 years (stage i and ii) but there was some mention of 5 years in the text. At any rate, if I can get onto RAP to save the interest and make payments on the principal at a rate higher than their "fair payment" and I figure I can be paid off within 5 years.
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