|
 |
|
| Last updated at 2:56 PM on 06/11/08 |
|
Representatives from each of the public college and university student unions held a news conference Thursday to lobby government for the removal of the provincial portion of interest on student loans. The campaign includes a petition drive. — Photo by Gary Hebbard/The Telegram |
|
|
Students call for interest relief  
The Telegram
Post secondary students in this province are calling on the government to eliminate interest on provincial student loans.
Memorial University’s student centre, student union reps from MUN, Marine Institute, College of the North Altantic and MUN Grenfell launched a petition-signing campaign at lunchtime today.
“Newfoundland is now a have province. Why should students pay interest on their education and continue to be have not?” asked Daniel Smith, provincial chairman for the Canadian Federation of Students.
He said the idea has been pitched to the provincial government, which is crunching the numbers.
According to Smith, it will cost $8 million a year to eliminate the interest.
The zero interest on the provincial portion of student loans would apply to current students and those paying off loans.
The interest rate is around prime, about 4.75 per cent.
|
06/11/08
|
Comments: |
|
This Conversation is Moderated. What is moderation?
|
| What does moderation mean? |
 |
The Telegram is committed to encouraging intelligent discourse among our readers and to creating a forum where diverse views and opinions on a wide range of topics can be aired. The forum you are in now is a result of our continuing efforts to facilitate a dynamic online conversation among our readers.
This is a moderated conversation. Once a reader follows the steps to register and submit his or her comment it goes to a moderator for the website. Once it has been approved, your comment will be displayed on the website. A comment may be edited or deleted for reasons of content or language.
All readers wishing to join a conversation must first sign in and agree to the Terms of Usage, which explain the rules of acceptable content.
|
|
|
|
|
|
|
|
Brent from Newfoundland writes: Last I checked, this interest is tax deductable. You might pay it, but it's given back to you. As long as people use their tax return to help pay off debt and not to pay for a trip to Cuba, I don't really see the problem. Interest is there to encourage people to make their payments. If there's no interest, what's the incentive to pay down the load in a timely fashion?
|
| Posted 06/11/2008 at 1:11 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
|
Wrong from NL writes: Prime rate is at 4.0%. Federal goverments charge prime plus 2.5%.
|
| Posted 06/11/2008 at 1:28 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
|
CW from NL writes: Everyone get out there and since that petition!
|
| Posted 06/11/2008 at 1:33 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
T Smith from St. John's, NL writes: this is in response to Brent.
first of all, just because something is tax deductible doesn't mean that you get all the money back that you paid in. In fact, its not even close. Maybe you should look into that income tax laws a little before you make such an ignorant comment.
as for the taking the tax money to go to Cuba - nothing like painting everyone with the same brush hey?
coming from a low income family and having to move to St. John's and then to Nova Scotia in order to finish my education, I ended up racking up about $35,000 in student loan debt. I am a health professional and making a pretty competitive income for Newfoundland, and I am only just playing my bills. trust me when I say, my $465 dollar a month loan payment pretty much precludes any chance I have of going to Cuba any time soon. by the way, about $220 of that payment is interest.
just for the record....
I applaud this petition and PRAY for its success.
|
| Posted 06/11/2008 at 1:47 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
Nancy from ON writes: Brent from Newfoundland writes: If there's no interest, what's the incentive to pay down the load in a timely fashion?
What's the incentive? How about being able to move on with your life, buy a home, take a debt-free vacation, purchase a vehicle perhaps, hell--even groceries! without the looming burden of a student loan payment?
Interest relief would help level the playing field for all of us who carry post-secondary education debt. Those who graduate and enter high-paying jobs are able to repay their loans at a faster rate than those who do not earn as much. In the end, those who earn the least amount of money end up paying so much more for their education through years of accumulated interest.
The government of Newfoundland and Labrador has proved its commitment to post-secondary education in the past through tuition cuts and freezes and the implementation of a provincial grant system. I hope the government will continue to invest in the future of the province through interest relief for all.
|
| Posted 06/11/2008 at 1:52 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
CA from NL writes: My opinion, as a former mun student, is:
You have a choice whether or not to get a loan.
Loans come with interest, therefore, if you didn't want to pay the interest, you shouldn't have gotten a loan.
If you were a poor unfortunate soul who had to either get a loan to fund your education or not get an education at all, that's too bad, and I hope you used your loan wisely instead of buying a new cell phone each September and drinking the rest away.
|
| Posted 06/11/2008 at 1:53 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
|
Just Payit from NL writes: Although I did not have a student loan, my wife did ... we repaid that loan interest and all - why do students today feel so entitled that they should receive special treatment. If you borrow money you repay it - that is the way it works in the real world. The institutions from which they borrow incur costs to provide those loans to the students - somebody has to pay those financing costs - guess students feel it should be the public at large that shoulders that burden. But guess what - it is not my loan. Students already receive interest relief, grants, and deferrals - now they want interest free loans - I can only guess what will come next. My own children are coming of age and since they will not be eligible for loans I personally will have to shoulder that. Where is my interest free loan?
|
| Posted 06/11/2008 at 1:57 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
|
Chuck from Cupids, Newfoundland writes: The interest is tax deducatable, but you don't get it all back. I paid nearly $2000 in interest last year and I got a whopping $400 back at tax time. I guess Brent never had a student loan to pay off. I have to pay over 500 a month and 210 of that is interest.
|
| Posted 06/11/2008 at 2:07 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
|
4mer Student, 4ever Debt from NL writes: While yes I agree that the interest is a tax deduction, I get no where NEAR the amount returned as paid through the year. Not to mention that the majority of my monthly payment goes to interest alone rather than directly to principal making the loan repayment NEVER end! I think the student loan program, though vital to obtain an education, is awful in that you never can get clear since the repayment method doesn't help anyone other than governments. I have been out of school for 5 years, paying quite hefty monthly payments ever since and still, looking at 7+ years before the slate is wiped clean. A petition against interest or to motion a higher percentage allocated to principal would certainly be supported by me!
|
| Posted 06/11/2008 at 2:15 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
|
Chuck from NL writes: In response to CA: It's not as simple as choosing to get a loan. If you want to get an education it costs money...tuition, books, apartment, groceries, utilities, etc. If your parents aren't doctors or lawyers you have to get a loan. I had student loans and it took every bit of them to get me through school. I did not drink or party either!
|
| Posted 06/11/2008 at 2:16 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
|
Ted from NL writes: Education is an investment. Since we are now a have province why not have free tuition like it was in the first days of MUN? In fact, Harper should make it a national program. If he can afford to send 1 billion to the Afghans for Bush's war he can afford this too.
|
| Posted 06/11/2008 at 2:19 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
|
poorstudent from NL writes: Interest Rates are literally killing me. They are too high, and its very hard to pay off when your first starting out. Gov wants to keep students in the province, HELP US OUT.
|
| Posted 06/11/2008 at 2:56 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
T from NL writes: CA and Brent: Wow I don't think I ever saw such ignorant comments on this website.
I dont agree with having interest free loans because it should make people want to pay it off quicker. What should happen is charge a lower interest rate even just prime. Recently I paid off my 38000 dollar loan with 8.75% interest thats nuts almost 9 bucks a Day. Without this loan I would have never gotten a high paying job.
Not all students have money given to them or party thier funds away smarten up CA and Brent.
|
| Posted 06/11/2008 at 3:10 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
CW from NL writes: Whoops, I meant sign that petition. Good education pays off, eh?
Anyway, good for some of you for being able to pay off your loans, interest and all. Stop being jerks and support the less fortunate who are overwhelmed in debt and barely able to get on their feet. Grumbling about mortgage interest? Well, at least you have a house to live in.
|
| Posted 06/11/2008 at 3:17 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
|
DB from NL writes: I see the merits of having interest relief or interest rebates. I am a former MUN student who had to borrow and pay back a loan, with interest. I attended full time and worked part-time to pay my way. I've even contributed as an alumni, I did my part but now I'm being asked to pay the interest for current students. I'm not sure about that.
|
| Posted 06/11/2008 at 3:18 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
Julia from St. John's, NL writes: Myself and my spouse both got educations thanks to student loans.. and now, between us, our payments are over $700 monthly! With 2 children, we obviously can't afford that and have both defaulted on our loans! :( Because of this we are stuck at rock bottom with no chance of paying off our debt any time soon, no chance of becoming home owners, no chance of getting on our feet!
I would LOVE to sign this petition... where can I do it?
And YES, I used my money wisely while at college... my money went entirely on tuition, books, and living a below average lifestyle trying to better things for me and my kids!
|
| Posted 06/11/2008 at 3:18 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
|
Pam from St. John's, NL writes: Anyone that says it is someone's choice whether they get a student loan or not knows nothing of life outside the overpass. My parents couldn't afford to send me to school so I had to get a student loan, with the costs of living expenses, books, and tuition I couldn't even afford to go to MUN even with a student loan 10 years ago and had to go to College. I am still paying it back and the interest rates are brutal. I think there should be some help both federally and provincially. I also never drank it away or had a cell phone in fact I think in 10 years I have been living in St. John's I've been downtown 3 times. As for going on a trip with your tax money, whatever you pay in you can only claim about 16% through federal tax worksheet and 9.86% through the provincial tax. I also think for those of us who stay in the province and work and don't hop the first plane out West there should also be some incentive. I have toughed it out for the last four years here with no salary increase, not even a cost of living increase however the cost of living has definatley increased.
|
| Posted 06/11/2008 at 3:33 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
Larry from AB writes: If you feel that the interest should be wiped out, lets be fair to everyone not just the people whom qualified for the Student Loan Program. Personally my children along with many others in this country never qualified to receive these low interest loans but rather had to get their parents to raise the money for the post secondary education they wanted.
In my case I had to increase my mortgage for to get money for each of my children to go to post secondary school as according to the then student loan program my children did not quailfy for loans. To this day I am still paying on a mortgage and never did I get to write off the interest on my tax return.
Why should any of these student feel like they are owed interest relief when I had and still due pay off debts incurred for my three children to get the education they wanted. Post secondary education is a choice that one makes and the loans to get this education is a choice that you made so pay back what you decided to get a loan for.
The bottom line is stop whining and put yourself in other peoples shoe first.
|
| Posted 06/11/2008 at 3:33 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
Sarah from NL writes: To CA-
You stated you were a MUN student. Did you graduate? I find it hard to believe an educated person can be so ignorant.
It is NOT one's choice whether or not to get a loan. The choice lies only in whether or not to pursue an education. Because I choose to educate myself, I must take out a loan - it is not a choice for me. If I want to fund my education, I am required to take a loan.
Not everybody is able to have their education funded by their parents, and most Honours students (such as myself) would agree that it is near impossible to hold down a full-time job while pursuing your degree and earning competitive grades.
I only pray that there can be a resolution to this interest situation, and that others shouldn't have to make this 'choice'.
|
| Posted 06/11/2008 at 4:26 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
Craig from Ontario writes: Brent.
Student loan interest is a tax credit given at approx 16% not a write off.
Larry.
A lot of these students who go through student aid don't have a choice. Here's an idea have your children pay you back the money that it cost for their education as we the people who had no other option but student aid to get the education are doing...bottom line stop your whining and put yourself in other peoples shoes
|
| Posted 06/11/2008 at 4:31 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
Student Aider from newfoundland writes: I CHOOSE to pay 600$ a month on my student loan (that I did not CHOOSE to get but HAD to get) to pay it off as quick as I can.
I went through 5 years of University, had a 35, 000$ a year job and NO my interest paid did not help me come tax time when Canada Revenue decided that I actually owed 500 bucks instead of them owing me over 2000$ in interest I paid on my loan.
Interest relief is a good thing. I did receive grants and scholarships, worked to pay for my tuition and rent and still I have a 30, 000$ loan. Maybe if those who choose to stay in NL could get higher paying jobs... a tiny little thing like interest relief would not be a big deal.
Do not begrudge those who need the extra little bit of help to stay a float!!
|
| Posted 06/11/2008 at 4:32 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
|
Jason from NL writes: Thegovernment handed out alot of these loans to young kids ( some under the age of maturity 19) without any financial advise in debt management. I think it should be a requirement that students take a week long course in budgeting and personal finance before even receiving a dime. Also Prime + 2.5 % is not a bad rate but if the banks can lend at prime and prime + 1% on student creditlines why cant the government. Another repayment incentive would be the tax deduction for principle payments that the government did have for 1 year ( think it was 2005) they took that away pretty quick, guess too many people were trying to repay their debts and they were loosing too much interest. I wonder if our MHA's that own money to the crown are paying prime +2.5 on teh overdue accounts?
|
| Posted 06/11/2008 at 4:48 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
|
Bob from CBS, NL writes: Did any of you EDUCATED geniuses consider the interest rate charged those delinquient MHA's who didn't borrow money from the government, they STOLE it in double billings. Confront the Government with that and watch some real stick handling.
|
| Posted 06/11/2008 at 5:22 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
CA from NL writes: Maybe I should clarify:
The choice is between a loan and a job. I chose to get a job to fund my education (which I completed, Sarah, thank you), it was not funded by my parents.
You don't NEED a loan to fund your education. You can get a job instead.
|
| Posted 06/11/2008 at 5:29 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
|
Grad Student from NL writes: Boo hoo........I'm currently in my second year of grad studies. With some help from my parents, scholarships, and working my tail off in the summer I managed to get through my first degree with no student debt. Currently i'm enrolled in a 4 year graduate program and in 2 years i've racked up 45000 in debt. I had to go to the bank to get my loan cause the government wouldn't give me one. I know when I start work i'll make between 100,000 and 200,000 a year but it will still take me time to pay back my loans. If you wanna spend all that money on education, make sure you do something worthwhile that will get you a great job to pay it off. I've never been on a trip to cuba or anywhere for that matter, I don't even own a cell phone and I don't plan to until I finish my course. By the time i'm done, i'll owe in excess of 100,000 in loans. It all goes back to the age old philosophy......you have to spend money to make money.
|
| Posted 06/11/2008 at 5:40 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
|
AB from AB writes: Also, what about the people that go to University and do not finish. (This is pretty common since in most high schools give the impression you have to go to University or you will go nowhere with life.) People try it and realize it is not for them and then can not take the job they want wich may result in a long term job because they still have a large loan to pay off. So they end up in AB working in Fort Mac hating there life but can not leave due to outstanding debt.
|
| Posted 06/11/2008 at 5:43 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
|
Eric from Nl writes: I paid off my student loan. I paid it off in 3 years through very hard work and diligence. If interest elimination comes through for this lot, will I be reimbursed my now 'paid' interest? As for income levels......maybe we should do away with non-professional programs so students can't mount up large loans with no viable job opportunities. With careful consideration, I racked up $50,000 in student debt, and my 'investment' in my education realized a full double my first year of employment. choose wisely people.....choose wisely....... Choices choices.........
|
| Posted 06/11/2008 at 6:10 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
Kassy from nl writes: Brent, mind your own business!
It's obvious you lack insight into the unfairness of this. Perhaps you are envious of those who acheive their academic goals no matter what the cost.
The fact is that a student loan in many cases is used to cover all of the costs of the education, family needs, housing, etc. so there shouldn't be interest charges. Individuals needing a student loan end up paying back the interest amount in addition to every cent they borrowed while there are certain educational programs that are government funded. Like many others, my $40,000 debt has taken more than a decade to pay back and even after paying as much as I was able to there's still a significant amount owing. What's really sad is that if this loan had been interest free, it would likely be paid in full by now.
|
| Posted 06/11/2008 at 6:17 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
Larry from AB writes: To Craig from ON - If you would actually read the article and put what was said by people responding, in the proper context you would see that I am certainly not whining. My comments was made merely to let the people whom are whining know that lots of other people are not so well off as they are, when it comes to funding their education.
My point of not being able to get interest relief or writing off the interest paid on the loan because it did not qualify under Student Loans whether by myself or my children was certainly over looked by you. I also said that if Government should give the students whom are whining a break on interest it should be done for everyone fairly, which certainly should include the interest paid for my children to get their education.
Maybe the full point of what others and I are explaining about fairness is over your head or you are just plain stupid.
|
| Posted 06/11/2008 at 6:17 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
Craig from Ontario writes: Actually Larry if you had your children apply to the bank for a private student loan instead of refinancing you mortgage you would have been able to.
Maybe back then and now that was over your head or your are just plain stupid. Maybe a bit of both for you.
|
| Posted 06/11/2008 at 6:28 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
|
MUN Grad from AB writes: One point most people are missing is that they talk about interest relief as if it's something that just disappears. Who do you think picks up the relieved interest? It's the government. Where does the government get the money? From your tax dollars. If you can't pay the loan with interest don't sign the papers. It's no different than buying a home. My wife and I graduated from MUN owing a combined $68,000 dollars. This forced us to move to Alberta and work hard to pay it off. We paid the entire bill in 4 years. We would have loved to pay this off without interest but it didn't happen nor should it. The bottom line is that when you make the decision to go to university you need to be responsible enough to understand that each dollar you borrow will be paid back with interest. It's a tremendous motivator to work hard at a lesson they don't teach at MUN.
|
| Posted 06/11/2008 at 6:54 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
J from NL writes: To Grad Student ... you're sounding a little naive.. do you suggest we all become doctors, lawyers and engineers?
Yeah, that would certainly better the world, wouldn't it?
With your logic, we should only choose to go to school if there is a high paying job at the end of the road. You don't sound like a grad student, you sound like a sheltered, naive moron.
I'm willing to bet you're from the St. John's area and never had to pay big people bills while you attended MUN, did you?
I find it hilarious that people think it's so easy to just work and go to school. Been there, done that: it's not easy, especially when we can't get help from parents or scholarships. I have also worked through the summers, and what with real world bills to pay, such as rent, electricity, and a little thing called food, I just barely made enough to manage it.
I cannot grasp how ignorant some of these comments are.
As for Larry , I'm glad you could manage to put three kids through school, unfortunately my parents are not able to do that, despite the fact that they have steady, full time jobs, although I'm sure they would like to. I think you would feel differently if your kids were finishing up a degree with hefty loans to pay. Perhaps then you would be more inclined to give them some sort of debt relief.
When I finish up, I'll be paying over $500 a month, which is unreasonable for someone just starting out. Interest relief or not, I'll be paying it back and I'm not complaining. I chose to go to university, therefore i HAD to get a loan.
Guess I'll take my arts degree and head to Fort Mac.. it's just as useless there, but at least I'll be able to find a job with decent pay.
|
| Posted 06/11/2008 at 7:19 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
Grad Student from NL writes: Ok,
Some people start university and then quit. They go to fort mac. alot of them come back (btw i'm not saying everybody in this case, but there are alot of people), buy an unnecessarily large pickup or some new car and then spend the rest of their money partying it up. In fort mac you can make more than enough money to cover a years worth of student loans. If they work hard, save enough and pay off the loans they can be back in a year or two. Like Eric said, people doing degrees that lead to no future employment unless grad school or another program is completed, i.e Education. If you think a english degree is going to get you out of debt, think again. You need to complete something else afterwards or consider your future when choosing a course. Sometimes we all can't do a degree for interest.
|
| Posted 06/11/2008 at 8:06 PM | Alert an Editor | Link to comment |
| ALERT US ABOUT THIS COMMENT |
|
Please let us know if this reader's comment breaks the rules explained in the Terms of Usage and is obscene, abusive, threatening, unlawful, harassing, defamatory, profane or racially offensive by selecting the appropriate option to describe the problem.
Do not use this to complain about comments that don't break the rules, for example those comments that you disagree with or contain spelling errors or multiple postings.
|
|
|
NOTE
The management of this site emphasizes that it is in no way liable for persons, physical or legal, who are hosted here. Moreover, the managers of this site may not be held liable for errors and omissions that may slip into the information displayed in these reader comments. Everyone who submits a comment should read, understand and agree to the Terms of Usage for this section.
|
|
|
|
1
