Private College Student Loan

Did you pay your education loan completely ?

im goin to a university this year and i have heard that you dont need to pay back the loan that you get from the government...like if you get $10,000 you can pay $8000 back ! i've heard from some people that they have done that ! is this true ??? i live in Canada by the way ! thanks!

Public Comments

1. You CAN do all sorts of things, but they are immoral. You should pay loans back. I did. Some people don't, but that doesn't make it right! In the US a lot of lenders stopped giving student loans BECAUSE so many students didn't pay them back....
2. I paid all mine. Not that it was a big amount. Nor am I a lawyer: Something like 85% to 95% of lawyers in Canada defaulted on their student loans, or simply declared bankruptcy. Consequently the laws were changed by the Federal government and now student loans are exempt from being written off if you do have to declare bankruptcy. (insert favourite nasty adjective) lawyers anyhow. You will still have to pay the loans off. If you enter certain fields, some of your tuition might be forgiven: I believe if you enter Medicine, and become a doctor, B.C. forgives a portion of the tuition. You'll have to verify that yourself, to see if that program still exists or if similar programs might be available in other provinces, of course. Study hard and try for scholarships, and research for bursaries to help keep your costs down. There are a lot of them available, and a surprising number of those don't hand out all the money they could each year. And did I mention study hard? In 4 or 5 years when you graduate with a trade, or a P. Engg, Bachelors or Masters degree, a lot employers will be offering signing bonuses to get the top graduates, so you can pay off a good portion of your loans right away. Unless you major in English or Arts, that is. Other tip: learn how to cook well, and frugally. (That way you can invite the hotties over for dinner and to study together... :-) )
3. Hi, I used "Credit Solution" to settle my debt.They managed to reduce my debt up to 58%.It's legitimate.I came accross this company on NBC News Special Edition.Check it out here: http://tighturl.com/60c