Repayment Assisstance Plan (RAP) Issues - Scotiabank Increased Payments after RAP approval

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Scotiabank Increased Payments after RAP approval

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=6929
Printed Date: 27/March/2026 at 2:04am
Software Version: Web Wiz Forums 12.07 - https://www.webwizforums.com

Topic: Scotiabank Increased Payments after RAP approval

Posted By: Sunshineyday
Subject: Scotiabank Increased Payments after RAP approval
Date Posted: 28/July/2014 at 7:53am

So applied for RAP, got approved by NSLC, payments reduced significantly. I have old government student loans outstanding with Scotiabank. They also approved my RAP application. Ontario student loan payments decreased by 50%, federal student loan payment increased by $30?!

I called and spoke to a supervisor and they had no explanation other than that it was based on my income. No explanation for why my ONT payment went down. Best they could do was cancel my RAP for the fed portion to return to my original payment.

Seems like something has gone awry here but no one at Scotiabank will help me!

Has this happened to anyone else? Advice?

Replies:

Posted By: SolveStudentDebt
Date Posted: 29/July/2014 at 9:04am

There are three heads on this beast you are dealing with. Each one has it's own mind with it's own agenda. Things NEVER go as planned when you have this sort of set up. The only thing they all have in common is that they want your money and to make a huge return on interest that you pay in.

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Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

http://www.solvestudentdebt.com" rel="nofollow - solvestudentdebt.com

Posted By: Sunshineyday
Date Posted: 29/July/2014 at 9:59am

Well I've made a formal complaint to the office of the President at Scotiabank. Unfortunately I've had issues with the Government Student Loan division of Scotiabank before and the office of the President was very helpful. I'm hoping they will be able to help this time as well (not holding my breath though). ...

Posted By: SolveStudentDebt
Date Posted: 30/July/2014 at 3:47am

Yes. Going to the bank's head will serve you better, unless they tell you to contact their ombudsman. In that case they will simply investigate themself and we all know how that works out,.

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Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

http://www.solvestudentdebt.com" rel="nofollow - solvestudentdebt.com