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 Topic: Some answers and a new calculator...
Posted: 29/April/2009 at 5:53am |
This is a reply to a letter I sent...
Dear Mr. O'Meara:
I am writing with regard to your electronic correspondence of April 2, 2009, in which you posed a number of questions about the Repayment Assistance Plan (RAP).
I am aware that you disagree with the Program's use of the borrower's gross income in determining eligibility for the RAP. That said, I assure you that the eligibility formula takes a measure of expenditures, including estimated taxes, into consideration when establishing the borrower's affordable payment.
In terms income used to determine eligibility, the borrower signs an attestation for their expected income for the next six months and the borrower may be asked to substantiate this by providing further documentation. This would allow the assessment to account for significant differences, such as loss of employment.
Lastly, the 15 year repayment period will apply to all eligible borrowers whose loans are in good standing. You may be interested to learn that an on-line Repayment Assistance Estimator is now available at www.canlearn.ca <http://www.canlearn.ca/> which enables users to determine the likelihood of their eligibility for the new RAP. Information about the RAP is posted on the site as it becomes available. I encourage you to visit the CanLearn regularly.
Thank you for writing.
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Mark OMeara
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administrator
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Posted: 29/April/2009 at 5:59am |
I've sent another email asking for the exact link for the calculator... their link doesnt show it...
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Mark OMeara
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Madmorrigan
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Posted: 29/April/2009 at 6:46am |
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I fail to see how this, in any way, benefits ANYONE.
1. Doesn't help the THOUSANDS of us that have defaulted...we're still on the hook until we die (and, from some of the horror stories I've heard, even afterward).
2. Paperwork is going missing NOW and putting people into default...what
happens when the required paperwork gets "lost" under the new scheme?
Sounds to me like it would put the indebted into default then, whaddya
know...the 15 year rule no longer applies and they can collect from you
until you die. Awesome.
This is me starting to look for jobs in Europe.
Don't kid yourself, folks....this is the same old crap in a brand new shiny wrapping.
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Madmorrigan
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Posted: 29/April/2009 at 7:01am |
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I just can't get over this...obviously, the best course of action in any and all circumstances is to keep your loan in good standing. That being said, however, life happens; it is not always possible to do so.
The people who keep everything clean don't need this damned program. The ones that need it the most are the ones who repeatedly get the shaft. Why? Because the government is making more money from me in interest than they're making from Suzie who had her parents help her, or Jenny who was able to get a decent job right out of uni, or Sally who decided to become a homemaker and has higher expenses because she's got four kids.
This does NOT help the Morrigan, who scrimps and saves every last penny, eating nothing but pb&j for weeks on end in order to have her loans paid off by the time she's 65, upon which time she can look forward to a daily gourmet delight of specialty cat foods.
AAAAAARRRRRRRGGGGGGGGGGHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!!!!!!!
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old hippy
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Posted: 29/April/2009 at 7:10am |
You're right Madmorrigan.. it's definitely the old crap in a new shiny wrapper.
I found the calculator by typing "Repayment Assistance Estimator" in the search window. No charts provided - just their trusty little calculator.
What are "Monthly approved expenditures"????? Do they make it up as they go along?
....and only applying to those whose loans are "in good standing"??
I'm so disgusted I could spit.
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old hippy
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Posted: 29/April/2009 at 7:35am |
Here's the link to the "Repayment Assistance Estimator"
You'll need to find out what the "Monthly Approved Expenditures" are first....kind of useless otherwise.
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madmaple
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Posted: 29/April/2009 at 2:10pm |
 old hippy wrote:
Here's the link to the "Repayment Assistance Estimator"
You'll need to find out what the "Monthly Approved Expenditures" are first....kind of useless otherwise.
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It applies to those with Permanent Disabilities. Put a checkmark in the box and then the definition for this field will be seen when you click on it.
Monthly Approved Expenditures
The assessment for repayment assistance for Borrowers with a Permanent Disability will take into consideration exceptional expenses related to the borrower's permanent disability, including medical, housing or special care expenses that would be deducted from the applicant's income. Medically, acceptable expenses would mirror most Health Insurance Plans, and would need to be prescribed by a licensed medical practitioner. Applicants with health insurance would also be able to include as an applicable expense any uninsured portion that a borrower would be required to pay out of pocket.
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Madmorrigan
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Posted: 29/April/2009 at 2:27pm |
madmaple wrote:
Monthly Approved Expenditures
The assessment for repayment assistance for Borrowers with a Permanent Disability will take into consideration exceptional expenses related to the borrower's permanent disability, including medical, housing or special care expenses that would be deducted from the applicant's income. Medically, acceptable expenses would mirror most Health Insurance Plans, and would need to be prescribed by a licensed medical practitioner. Applicants with health insurance would also be able to include as an applicable expense any uninsured portion that a borrower would be required to pay out of pocket. |
Dear Borrower: We've considered it. The answer is no. Sincerely, Your Government
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old hippy
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Posted: 30/April/2009 at 1:59am |
Dear Borrower,
Sorry, but you don't qualify for the new RAP. You've found a job at long last. We have calculated your affordable payment with our new RAE (Repayment Assistance Estimator) to be $1,069.75 a month.
Sorry, but we don't take your age into consideration and don't care that you returned to school as an adult student, and are no longer in your 20's. We don't care that you haven't worked at the same job for most of your life, and have no pension plan. Perhaps you can share in Madmorrigan's tasty selection of cat food delights in your retirement years.
We want every cent of spare change after taxes (which we have not taken into consideration at all), and we want it now. There will be nothing remaining to put into savings or RRSP's.
Sorry about your luck,
Sincerely,
Your Government
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mr.o
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Posted: 30/April/2009 at 8:11am |
I'd like to get this before a judge.
Judge: your loan is in default...and has been for some time. Have you anything to say to say for yourself...why we should not collect this amount owing the government,until the day you die?
Me: Your Honor, the mere fact that the government has put in a loan repayment plan that is based on income seems to indicate that they acknowledge there was a problem that some people, who for some unforseen circumstances in their life, found themselves unable to make payments and thus got turfed into a default status where no help is available. If this new repayment plan was available to me,when I was sick and could not work and make payments,which would be based on income, my repayment might possibly be adjusted with my needs and I wouldn't have defaulted. I didn't want to default. Who would? There was no choice in the matter. None at all. I was put into default because I was poor. Does that seem reasonable....and then to punish me for the rest of my life?
Judge: You seem to think we live in a modern society here in Canada where we can go back and fix things that we screwed up in the past.That is not progress young man. Some must suffer and be left behind only because it is the Canadian way...or at least the way it is defined by the great political leaders that have paved the way for me to sit on this bench.
We,the ones with the power have all the time in the world to pull and jerk the strings of little guys like you. Maybe some future society might have sympathy from the court for you, but not this one. The future for you has been set, so you may as well get used to it.
Me: Yes your honor. I believe I've gotten quite comfortable with the notion for many years now. What was I thinking when I got ill? Foolish me......
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old hippy
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Posted: 25/May/2009 at 10:20am |
My contract is up for renewal at work - and so, I have to consider any upside there may be to losing my job. And this is it. I would qualify for the RAP and my payments would go from $1,069.75 mthly (or whatever) to $67.90 mthly on E.I. It looks like my 5 yrs. on interest relief would be taken into consideration, and I would only have 5 yrs. of repayment remaining before my $65,000 loan is out of my life. And if it happened soon enough - I would still qualify for another round of debt reduction. Hmmm.....
I'm just feeling a little morose today.
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Madmorrigan
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Posted: 26/May/2009 at 5:43am |
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I hear ya, old gal...not a good day/week/month/year for me, either.
The fact that you would have to pay anything at all on EI is absolutely ridiculous in, and of, itself--let alone everything else.
Must be something in the air here in L-town, eh (per your post on the other thread, I think you're right--we likely work for the same hospital). I'm in the midst of a bit of a breakdown at the moment...I've got a birthday coming up, too, which doesn't help. Nothing like those yearly reminders of one's mortality in addition to all the other crap.
*sigh*
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Posted: 26/May/2009 at 6:21am |
Old hippy, you have been such a positive contribution to this site. Hope that things work out with the job etc... keep your chin up..... many years ago I lost a good job... at least I was able to say that I had gotten laid ...... off. Humour helped. And remember, with every door that closes, another one opens..... its just the hallways that i dislike. :)
Remember we're here for you! and remember to be grateful for what you do have. Thats whats gotten me through some times...
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highland
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Posted: 28/May/2009 at 8:22am |
not to be cynical, but...
I have just had both my csl and psl go to the Canada Revenue Agency and a third party collections agency with NO warning letter or phone call.
I am suspicious that there might be others like me who defaulted on student loans dating back to 1993 (16 yrs old), and were offloaded to collections firms to reduce the pool of candidates eligible for this upcoming program.
My phone calls to both NSLSC and Royal Bank Student Loan Centres have been answered with, "There's nothing we can do now. They've gone to external collections."
Somebody give me hope!!
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SolveStudentDebt
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Posted: 29/May/2009 at 3:58am |
Fnd out why they defaulted you and capture some proof of the conversation. Then, call ans speak to another and see if you get the same story. That is one way to catch em. If you need help, let me know.
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Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting. solvestudentdebt.com
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kjc
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Posted: 05/August/2009 at 5:06am |
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As per the letter to Mark about "gross income" and how eligibility will be determined under the Rap ..."In terms income used to determine eligibility, the borrower signs an attestation for their expected income for the next six months and the borrower may be asked to substantiate this by providing further documentation." Has anyone took a look at how they WILL actually be determining as per the NSLC website ( as of Aug 04/one needs to be registered and log-in to see this info)? It is stating that you will be asked to provide your gross income employment stubs for the past "3 months" to determine if you are eligible ( not the expected income for the next 6 months)- wasn't this exactly how they determined prior if one was eligible for the other program of " interest relief" or am I reading it wrong???
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KC
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Posted: 12/August/2009 at 5:07am |
I question the wording disability. I am a 57 year old woman with 65000 in loans, incured while raising my 4 kids (I thought it was better than welfare) HaHa.
If I am not at a disability who is? And yet when I have attempted to get answers regarding my situation and my ever looming old age, I mostly get sneers and humor from SL call centre workers. Pay off my student loan in 15 year - F#@$ in 15 years I will be 72 years old. AAAAUUUUGGGHH. |
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Posted: 12/August/2009 at 6:42am |
I feel that I was duped by CSL's. It sure sounded like a good idea to get educated while I raised my children. However, CSL treats borrowers like dummies - (stupid welfare cases who thought they might get ahead with an education) there is no consideration of each individual situation.
My truth is that, even with an Masters degree CSL continues to see me as a poor single mother who deserves poverty. Now,"The more I make the more, I pay". CSL does a nice job of keeping me religated to my position in Canadian society.
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kjc
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Posted: 13/August/2009 at 5:37am |
Add-on to my post above.
Interesting to note that in reality with this new program that they are NOT asking you to estimate your gross income for the NEXT 6 months at the start of the initial application process as they state in the letter to Mark but are asking you to provide your gross income for the PREVIOUS 6 months on the attestation paper
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KC
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Some answers and a new calculator...