How To Apply for Debt Reduction, Interest Relief and BC's PERMANENT DISABILITIES Loan Forgiveness -- Uh oh, too late

admin101 - Mon, 07/27/2009 - 08:22

THE JULY 31 DEADLINE HAS NOW PASSED.

PS - IF YOU HAVE CANADA STUDENT LOANS AND MISSED THE DEADLINE, DON'T FEEL BAD. CANADA STUDENT LOANS WILL PUT FEATURES SIMILAR TO INTEREST RELIEF INTO THE RAP PROGRAM, WHICH OFFICIALLY STARTS TODAY.

IF YOU HAVE BC STUDENT LOANS, THE NEWS IS NOT SO GOOD. BUT MORE ON THAT LATER.

                                                        More on RAP to come, starting with RAP 101 and RAP 201...

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If you want to apply for these student loan repayment programs that will end after July 31, 2009, Debt 101 has the advice, info and application forms to help.

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   ADVICE FOR ALL THREE PROGRAMS:

Interest Relief - Canada Student Loans
Debt Reduction - Canada Student Loans
Permanent Disability Benefit - BC Student Loans

July 31 is your last day to get help with your student loan debt under these THREE government programs

   IF YOU READ THIS ON JULY 31:

Some officials say they may accept a faxed application that is time-stamped July 31. You might improve your odds if you add a note to say that the originals of any supporting documentation has been sent separately. This can't guarantee acceptance but is better than giving up!

   CHECK THAT YOUR APPLICATION IS COMPLETE, SIGNED AND DATED!!

   KEY DETAILS BELOW

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                                                             BC STUDENT LOANS

PERMANENT DISABILITY BENEFITS Program (PDP)

Confused StudentAid BC call centre clerks have been telling clients that PDP is over.

Debt 101 has confirmed with government officials that your PDP application will be honoured if it is faxed in by July 31, 2009. Your original documents can follow.


If you are disabled and low-income, don't miss this last chance to have your BC student loan debt forgiven!

More Info, click here.

Application Form, click here.

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                                                       CANADA STUDENT LOANS

INTEREST RELIEF

More info, and link to application form, click here.

DEBT REDUCTION IN REPAYMENT (DRR)

More info, and link to application form, click here.

Note: this DRR deadline is for Canada loans only. The Debt Reduction in Repayment (DRR) program for BC Student Loans was suddenly cut without announcement earlier this summer. So there is no point applying for DRR on your BC Loans now -- only Canada Student Loans.

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WHILE FEDERAL DEBT REDUCTION AND INTEREST RELIEF WILL END, THERE WILL BE A NEW PROGRAM TO HELP LOW-INCOME PEOPLE WITH THEIR CANADA STUDENT LOANS.

IT'S CALLED RAP (REPAYMENT IN ASSISTANCE) AND DOES HAVE SOME GOOD FEATURES.

                                                       DEBT 101 WILL DISCUSS RAP IN DETAIL NEXT MONTH.

                                                      RAP WILL NOT BE AVAILABLE FOR BC STUDENT LOANS.

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                                                       THESE TIPS WILL IMPROVE YOUR CHANCES

In the pressure of a deadline, it's easy to make mistakes. We don't want you to lose out on your money or loan payment break because of a simple mistake. We've all been students (most of us have just graduated) and most of us have either had student loans or still have them. We want to help.

If you think you are eligible for one of the three programs ending, here are more Debt 101 articles to boost your odds!

To Avoid Mistakes:

8 Simple Steps: Fool-Proof Your Student Loan Aid Application (NEW!)

Student Loan Aid Mistakes + Delays: 5 Ways to Protect Yourself

To Speed Things Up:

6 Ways to Speed Your Student Loan Aid

If You Can't Get the Help You Need from Your Student Loan Lender:


How to Reach the HRSDC Call Centre

Debt 101 is a non-profit community service to help you successfully manage your student loans. While we strive to give you full and official details, your lender and government services must be the final word on all points. Your use of this website means that you understand and agree to our terms of service.

Seems like every time I come

Jay B - Mon, 07/27/2009 - 12:50

Seems like every time I come here theres something new. I never saw the music last time or some of these stories. Either that or you keep changing things around... LOL

But its good putting all this in one place.

Read all those details on the

Jay B - Fri, 07/31/2009 - 08:57

Read all those details on the disablity program. Direct numbers and the inside scoop. Its amazing that you can find out all this.

Guess you have connections???

Thakns for your positive

Jeannine Mitchell - Sat, 08/01/2009 - 16:23

Thanks for your positive comments, Jay! You're still one of the few who are speaking in the forum and we're glad that you are.

Most people have been sending individual messages, which nobody else gets to read. So that doesn't let people learn from each other.

Maybe we need to step back so everyone takes their questions to the forum instead. (Except the technical difficulty ones, of course!)

On that point, maybe there's a tech difficulty with the forum. Is anyone getting asked to do a Captcha every time they post? Tell us if you're hitting snags. The forum is new to our site, so we need to learn more from people's feedback.

Now, what was your question..... Connections.

Semi-connected is closer to the truth. Really, the only people who really know what's going on are higher up the political food chain!

There is another kind of connection too, of course. We do our best to connect the dotted lines :)

Wow, great information

Anonymous (not verified) - Mon, 08/03/2009 - 04:51

Thanks debt101 for the information!

Thanks dude......

hansbery (not verified) - Tue, 01/18/2011 - 13:07

Nice information was shared, Thanks a lot.

Helpful information - thanks much

Bill (not verified) - Wed, 11/11/2009 - 12:56

Thanks for providing this information.

It's high time for this to

Kall (not verified) - Thu, 11/26/2009 - 02:02

It's high time for this to happen and I hope it doesn't apply just for students. There a lot of people having pay day loans to deal with, some of them might need a helping hand. If these people can't pay back their loans we deal with a blockage in the financial system. Nobody wants that.

Personal debt has become an

Stan (not verified) - Wed, 02/24/2010 - 22:51

Personal debt has become an increasingly large problem in many developed countries in recent years. For example, it is estimated that the average US household has $19,000 in non-mortgage debt.

i really had a great time

Anonymous - Mon, 01/31/2011 - 14:42

i really had a great time reading this informative post..thank you!

About student loan

Abin Clane (not verified) - Wed, 06/01/2011 - 01:13

Thanks for the info. A lot of Canadians could really use this. You can also look at this article about the calculated value of USA college education , minus the cost of your student loan for those who are interested to seeing a more detail analysis on it.