Scintillating Posted September 30, 2016 Report Share Posted September 30, 2016 I have been paying off my student loans (the minimal amount) since I started residency about a year ago because it seemed that Canada Students Loans and my provincial students loans were requiring me to do so.However... aren't I a student as well? Do I have the right to defer payments for now or is that province-dependent? Link to comment Share on other sites More sharing options...
mavrik13 Posted October 3, 2016 Report Share Posted October 3, 2016 Not in Ontario - while you can claim tuition tax credits, you are not considered a student as per OSAP (and I am fairly certain other provincial/federal student loans are the same). If you can get your school to write a letter, technically you can appeal it - but I am relatively certain no residency training school in Ontario will do this. Not sure if anyone else had a different experience. When I ran the numbers, it was cheaper for me to pay off my provincial loans with my line of credit (and associated lower interest rate) than to pay OSAP directly, even with the interest tax credit. If interest rates rise dramatically, that may change. Your own situation may differ. Link to comment Share on other sites More sharing options...
NLengr Posted October 4, 2016 Report Share Posted October 4, 2016 For any province with combined Canada-provincial student loans, you need to repay during residency because, frankly, the federal govt. are dicks. For Alberta and Quebec, I don't think they have the combined program so things might be different. Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.