Repayment Assisstance Plan (RAP) Issues - IN RAP, can I still make payment?

Print Page | Close Window

IN RAP, can I still make payment?

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=6902
Printed Date: 27/March/2026 at 2:04am
Software Version: Web Wiz Forums 12.07 - https://www.webwizforums.com

Topic: IN RAP, can I still make payment?

Posted By: emilycanada
Subject: IN RAP, can I still make payment?
Date Posted: 17/June/2014 at 3:48pm

I'm one of the lucky few who was fortunate enough to qualify for RAP based on my low income status. Recently, my dad had passed away and left me some money which I really wish to pay down my loan with and other debts. Will they take away my RAP status based on 1 lump sum payment (covering 30% of my loan)? Thank you, any info would be greatly appreciate it.

Replies:

Posted By: administrator
Date Posted: 18/June/2014 at 8:28am

Since you are on RAP, you are not being charged interest. Maybe put the money in a short term GIC, earn some interest, and then pay off 32% of your loan at a future date?

-------------
Administrator
Mark OMeara
Author of Let Go and Heal: Recovery from Emotional Pain
https://LaughSingWrite.com - http://bit.ly/heal2024