College Loans

@townie_guy Said

I didn't set it up as autopsy. The goverment did that themselves. They gave me the money, now they are taking it back. Just glad they don't want it in the same payment sizes as they gave it me.

@DorkySupergirl Said

I never had a student loan but I know people who did, they got a provincial loan and a federal loan. When it was time to pay back, the bank they borrowed from contacted them and they make a payment of x amount of money that has nothing to do with your income but is based on how much you owe. So if you make 20,000 a year or 100,000 a year but borrowed say 25,000, you payment is the same. They set it up on automatic withdrawal. If you make too little to pay it back, you can get relief 6 times for 6 months each time, after that, even if you do not make much money, you need to find a way to pay. I know someone who had a high student loan and declared bankrupsy, they were not allowed to declare bankrupt on the student loan and still has to pay it back.

Maybe its different in US but that that is how it works here.

@Cpat92 Said

I think it's the same or at least similar.

@DorkySupergirl Said

I never had a student loan but I know people who did, they got a provincial loan and a federal loan. When it was time to pay back, the bank they borrowed from contacted them and they make a payment of x amount of money that has nothing to do with your income but is based on how much you owe. So if you make 20,000 a year or 100,000 a year but borrowed say 25,000, you payment is the same. They set it up on automatic withdrawal. If you make too little to pay it back, you can get relief 6 times for 6 months each time, after that, even if you do not make much money, you need to find a way to pay. I know someone who had a high student loan and declared bankrupsy, they were not allowed to declare bankrupt on the student loan and still has to pay it back.

Maybe its different in US but that that is how it works here.

@Dark_Tink Said

Also, if you fail to make any payments, after a period of time, they take any money you would receive from your tax return.

@Cpat92 Said

I think it's the same or at least similar.

@DorkySupergirl Said

I do not doubt that at all. But it takes forever to get them to pay you back when they screw up. They messed up with me on something and it took 6 months for me to get it back!