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Gettin around OSAP and stuff

stryker

TRIBE Member
I work with this girl who wants to go to Uni in September. The thing is, her dad is an asshole and won't sign her OSAP papers.
Can anybody give me a couple of URL or advice or people/places that I can pass on to her?

Thanks in advance : )

Stew
 

nusty

TRIBE Member
take out a student line of credit up to 8000 a year at some banks, you don't have to pay it back it after graduation and the fees are resonable. that with a minor part time job (10 hours a week) during the school year and working all summer should get her through fine.

Also tell her to get her ass in gear first year and make co-op. it should help out tons.
 

Rocky

TRIBE Member
Originally posted by nusty
take out a student line of credit up to 8000 a year at some banks, you don't have to pay it back it after graduation...
I think I'll be looking into this loan!
 

Maui

TRIBE Member
Its like any other application...

Lie!

Parents? Died when I was young....
simple. :)

Peace,

Maui
 

starr

TRIBE Member
I was almost in a similar situation, but eventually my dad decided to shut up and fill in the forms.

But when I wasn't sure what was going to happen, I went to see an OSAP counseller (sp?). He was pretty helpful in explaining everything. Basically, she'll have to hand in an additional explanation with your application. It should detail why your parents could/would not fill in their portion of the form. I never actually had to submit mine because my dad ended up doing the right thing, but I'm fairly sure that if you write that you have a strained relationship with your parents they may call and check.

Again I'm not positive that they will check - it's just speculation. But the more evidence you have in your explanation the better.

The bank loan that nusty suggested may be the better way to go. But I would definitely tell her to try OSAP and if she is denied then go to the bank.
 
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litespeed

Well-Known TRIBEr
Why will her father not sign her her OSAP apps?
It's not co-signing if that's what he thinks... they use the parents info to determine what she is eligible for.

tell you frined to tell her dad that maybe he should read the fineprint before being an asshole.



Originally posted by nusty
take out a student line of credit up to 8000 a year at some banks, you don't have to pay it back it after graduation and the fees are resonable. that with a minor part time job (10 hours a week) during the school year and working all summer should get her through fine.

Also tell her to get her ass in gear first year and make co-op. it should help out tons.

You need a co-signer to get an student LOC
 

litespeed

Well-Known TRIBEr
and re: student LOC's you have to pay the intrest every month. and I think they give you 6 months after graduation before you have to start making regular payments. Or at least that how mine worked.
 

sohaness

TRIBE Member
Originally posted by nusty
Also tell her to get her ass in gear first year and make co-op. it should help out tons.
word to that! being in coop was a lifesaver for me!

steve.
 

C-NiCE

TRIBE Promoter
Three words: I am gay.

Seriously, this worked for a buddy of mine. He basically wrote a letter saying he came out to his parents and they haven't spoken since. He got the max or close to it for 4 years.
 

Pyrovitae

TRIBE Member
on a totally unrelated note - can anyone confirm that reading week is from february 16th-20th in 2004 for u of t? i'm trying to plan a trip and i need to know. thanks.

stew, tell your friend to talk to an osap counselor at the university they're applying for. i know a friend of mine recommended that route when after talking to a real live person she was eligible (and got) MORE than what the online application had alotted her.

also - has she supported herself for a few years? if so, she doesn't need her parents information as far as i know... because she's self sufficient and not reliant on them for financial help. when i applied for osap last year i didn't have to include my parents info because i've lived on my own for the past five years.

and yeah - a student line of credit often needs a co-signer and you have to have a pre-existing GOOD credit rating. you also have to pay it back while you're attending school, although the fees are fairly minimal - from $25-75 a month.

and regardless if you get osap or a student loc, you still have to start repaying 6 months after graduation.
 
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Stormshadow

TRIBE Member
Originally posted by stryker
I work with this girl who wants to go to Uni in September. The thing is, her dad is an asshole and won't sign her OSAP papers.
Same thing happened to me.

I guess it was a good thing though, because after 4 years schooling, my debt = $0.
 
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claire evil

TRIBE Member
are your friend's parents separated? if so, then she only has to claim her mom's financial information.

be aware that OSAP will collect the money you owe them by deducting it straight out of your bank account after that initial six month grace period.
 

Soundstream

TRIBE Member
Originally posted by nusty
take out a student line of credit up to 8000 a year at some banks, you don't have to pay it back it after graduation and the fees are resonable.
First of all, you are hardlylikely to be offered more than $2,000 if you dont have your parents co-sign the line of credit.

Secondly, if you just decide to not pay it back, you can look forward to years of not being offered any credit. I had a friend who did this and now he really is fucked. He can't buy ANYTHING on his own. He is 27 and his daddy still has to cosign everything: his rental agreement, his car lease, his Roger's cable and cellphone bills, etc.

He skipped out on a few grand, and now for the last 5+ years, he has been unable to do anything unless daddy agrees to help him out.

Cheers ... Ian :)
 

Liquidity

TRIBE Member
Originally posted by nusty
take out a student line of credit up to 8000 a year at some banks, you don't have to pay it back it after graduation and the fees are resonable.
does the interest get frozen for this? 8000+ a year at 5%+ will compound pretty nastily...
 

nusty

TRIBE Member
From here
TD Canada Trust Student Line of Credit

The TD Canada Trust Student Line of Credit helps students cover the costs of tuition, books, living expenses, computers, etc. while studying at a university or community college.

Designed with students in mind.

* Full-time students can borrow up to $8,000 a year for four years to a maximum of $32,000, and part-time students are eligible for half that amount.
* Graduate students can qualify for an additional two years of funding to a maximum of $48,000.
* Students may qualify for additional funding in special programs such as :

o Ivey MBA
o MCSE

* Interest rates are set monthly.
* Unlike a loan, you pay interest each month only on what you use and as you pay off the principal it becomes available again (no need to re-apply).
* After finishing or leaving school, TD Canada Trust Student Line of Credit offers a 12-month grace period, during which you pay interest only.
* After the grace period, pay the greater of $50 or 1% of the outstanding monthly balance. Each month, the TD Canada Trust Student Line of Credit is accessible in conjunction with TD Canada Trust Self Serve Account (a 50% discount for students) — withdraw funds at Green Machine ABMs, in-branch or with no-charge Student Line cheques.

Who Qualifies?
To qualify for a TD Canada Trust Student Line of Credit, you must be enrolled full-time or part-time at a recognized university or college and have either Canadian citizenship or landed immigrant status. You must also meet TD Canada Trust's normal credit criteria. (If under the age of majority in your province of residence or if the application does not meet TD Canada Trust's normal credit criteria, a co-signor will be required). Launch Loan Calculator

TD Student Line of Credit FAQ
What is a line of credit?
How do I get access to my money?
How long do I have to pay my Student Line of Credit back?.

These questions and many more are answered in the Student Line of Credit faq.

Relax with Line of Credit Life Insurance
Sleep easier knowing your Line of Credit is protected with Line of Credit Life Insurance. With Line of Credit Life Insurance, you pay for this valuable coverage only when you need it — when you carry a balance on your Line of Credit.
 
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stryker

TRIBE Member
wicked!
Thanks for the info guys i'll pass all of this on to her and I hope it should be of some help to her. She's a really smart kid and i'd hate to see her let it all slip because her dad's an ass.

Stew
 

PRIMAL

TRIBE Member
Originally posted by stryker
wicked!
Thanks for the info guys i'll pass all of this on to her and I hope it should be of some help to her. She's a really smart kid and i'd hate to see her let it all slip because her dad's an ass.

Stew
I find it hard to believe YOU'RE doing this out of the kindness of your heart.

:p
 

Lysistrata

Well-Known TRIBEr
Originally posted by Liquidity
that's what i was thinkin'... i know some people who owed 10 times that...
The osap cap for singel students when I went to school was 9,000 I think. I got somewhere between 6 and 8 each of the four years I went to school. So 7,000 is only one years worth of school!
 
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