NAtional Student Loan...

A

animal-inside

Well-known member
Trusted Member
Way back 17 years ago I had to take out a large loan to complete university. I took one out from the national student loan (I borrowed from the government) and I also had to take one out through a bank.

Bank one was paid off awhile ago, but the government one hasn't. It was a BIG loan, but this year I am very close to paying it off. I was told not to pay it off early because it helps me out on my taxes. So I paid it monthly and never thought of it much except at tax season. Anyways last tax season I noticed I could pay it off easily this year.

So today I try to go into my online account on the governments website to access my loan balance.

It's pure frustration to try to use this site.... It's pages of reading, clicking, information input before you get to your account. Each year it takes me a 30-45 mins to get the info I need for taxes.

Today I try to log in to find they are forcing me to reregsiter because they have changed their system.... Fine... I try... but I keep getting several pages into the process and then I get a page that says "error... Technical difficulties" etc.. And then I have to start again.. I get this error page at different points in the process, but after 45 mins I can't get to the end of the process to check my balance.

I understand my information needs to be protected so it has to be a secure site, but holy fuck... I have several bank acounts and logging into them to view my balance takes 2 mins. Go to bank website, enter account number, enter password and I'm done..

Fucking government... how the fuck to complicate checking a balance on a load to the point its at least 6 pages of data entry to find my fucking balance..


fuck Trudeau and his shitty beard as well.
 
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I have a friend who had one of them loans and he never ever paid it back. Doesnt affect his credit. They just take his taxes every year. He owes them 40g.
 
Cheapshot said:
I have a friend who had one of them loans and he never ever paid it back. Doesnt affect his credit. They just take his taxes every year. He owes them 40g.
Click to expand...

They take his taxes, so techinically he is paying it back.

The government generally doesn't send a loan to a debt collector because they have access to your taxes...

I think I owed around 45,000
 
Cheapshot said:
I have a friend who had one of them loans and he never ever paid it back. Doesnt affect his credit. They just take his taxes every year. He owes them 40g.
Click to expand...

Whats the interest like? (if you know)

i remember i was a week late paying back my loan i took out and they charged me a few hundred dollars
 
Rocky said:
Whats the interest like? (if you know)

i remember i was a week late paying back my loan i took out and they charged me a few hundred dollars
Click to expand...
Im Not sure, I know its over 20 years old so its probably more than when he started if there is interest. I almost think it was a intrest free loan but not sure
 
I'll have to chec the pay back fee... never thought of that.

I recall how the govenrment made the national student loan as a way to "help" students get their education and a career.. lol.. They make billions off interest on these student loans.. fucking assholes saying its a helping hand.

I am pretty sure my interest is 4%... Or a touch higher.. either way 4% on a 45,000 loan that has taken me 12 years to pay at $345 a month
 
animal-inside said:
I'll have to chec the pay back fee... never thought of that.

I recall how the govenrment made the national student loan as a way to "help" students get their education and a career.. lol.. They make billions off interest on these student loans.. fucking assholes saying its a helping hand.

I am pretty sure my interest is 4%... Or a touch higher.. either way 4% on a 45,000 loan that has taken me 12 years to pay at $345 a month
Click to expand...

I actually had saved up enough in highschool to get me through university but I got the loan cause of the grants it came with. I missed the due date for the loan and I couldn’t believe how much they made me pay for being a few days late

I also saw the grants people were getting when Wynn was the premier of ontario, $8000 in grants?! I remember getting $800 in grants or so, pretty crazy, if I had known I would have went back to school
 
Rocky said:
Whats the interest like? (if you know)

i remember i was a week late paying back my loan i took out and they charged me a few hundred dollars
Click to expand...

On government and for the most part bank student loans there is no interest until you finish or leave school.

Rates at the banks are/ were about 4% and government was about 2%.
 
Rocky said:
Whats the interest like? (if you know)

i remember i was a week late paying back my loan i took out and they charged me a few hundred dollars
Click to expand...
Last time I checked my student loan (which was about 3 weeks ago) my interest was 6.5%

it cost me $20,000 to do a 1 year BEd professional program. Isn't that completely insane! I try not to be too bitter with it comes to post secondary education costs, but the reality is that University/Colleges are businesses and just like all businesses the goal is to be profitable.
 
animal-inside said:
Way back 17 years ago I had to take out a large loan to complete university. I took one out from the national student loan (I borrowed from the government) and I also had to take one out through a bank.

Bank one was paid off awhile ago, but the government one hasn't. It was a BIG loan, but this year I am very close to paying it off. I was told not to pay it off early because it helps me out on my taxes. So I paid it monthly and never thought of it much except at tax season. Anyways last tax season I noticed I could pay it off easily this year.

So today I try to go into my online account on the governments website to access my loan balance.

It's pure frustration to try to use this site.... It's pages of reading, clicking, information input before you get to your account. Each year it takes me a 30-45 mins to get the info I need for taxes.

Today I try to log in to find they are forcing me to reregsiter because they have changed their system.... Fine... I try... but I keep getting several pages into the process and then I get a page that says "error... Technical difficulties" etc.. And then I have to start again.. I get this error page at different points in the process, but after 45 mins I can't get to the end of the process to check my balance.

I understand my information needs to be protected so it has to be a secure site, but holy fuck... I have several bank acounts and logging into them to view my balance takes 2 mins. Go to bank website, enter account number, enter password and I'm done..

Fucking government... how the fuck to complicate checking a balance on a load to the point its at least 6 pages of data entry to find my fucking balance..


fuck Trudeau and his shitty beard as well.
Click to expand...
I'm on disability and I wonder if every government site is on the same cloud server. Simplest questions and cant even log in until mid day.
 
LePsyber said:
I'm on disability and I wonder if every government site is on the same cloud server. Simplest questions and cant even log in until mid day.
Click to expand...


no they are not on the same cloud servers however you could be hosting at the same data center and as such share the same maintenance window
 
Cheapshot said:
I have a friend who had one of them loans and he never ever paid it back. Doesnt affect his credit. They just take his taxes every year. He owes them 40g.
Click to expand...

It does effect credit. For it to get to the stage where they take your taxes it’s too late. Same thing happened to me. When going for a mortgage the bank made me pay the remaining balance off.
 
DerekD said:
It does effect credit. For it to get to the stage where they take your taxes it’s too late. Same thing happened to me. When going for a mortgage the bank made me pay the remaining balance off.
Click to expand...

I moved provinces once a long time ago. I lived with a house full of other guys and the internet/phone was in my name. After the lease was over, I moved to a new house in the same town and lived their for another 2 years. I got various other bills in my name, bought a vehicle on a loan etc.. No issues at all.

Then when I moved to a new province, all was good until I went to buy a new truck. I was told my credit wasn't great, but I was still able to buy the truck. I figured it was because I was young, had student loans, just a couple years into my first real job etc..

Then 3 years after I went to buy my first house. Again, bank said I don't have very good credit. At this point I figured I should have good credit because I had been making good money, stayed at the same job for 4 years, had permenant contract with my employeer, paid off all bills except my studnet loans etc.. So I asked the bank what the hell was up.. They said I have a outstanding debt that has gone to a collection agency on the other side of the country. That's all the info they had.. They gave me the contact info for the collection agency aswell.

So the next day I called them to figure out what was up... I owed 85$ from that internet/phone that was in my name.. I forgot to pay the very last bill...
85$ almost stopped me from buying a 35,000 truck... Then it really stopped me from getting a 300,000$ mortage.. I couldn't beleive that's the damag from a forgotten bill did to me.

I admit I absolutely lost it on the phone with the collection agency becase they made not one fucking attempt to get into contact with me to inform me I owed 85$. They said "we had no way to get a hold of you"... I called bullshit because I had other accounts with cell phone company, utltities companies, bank accounts, my name was in the phone book etc.. Even the internet/phoen company GAVE THEM my personal info when the collection agency bought the debt from them.

After talking to the lady more on the phone and doing some reading about their company, they were a sleezy mom and pop couple that did a bit of collection agency and had 3 other shitty little companies in their name like carpet cleaning etc.. Just 2 ppl running tiny little shitty businesses..

I was pissed, but I had no recourse to take it any further, but the lady admitted to me they could have tracked me down if they wanted too but they don't have to do that when they buy a debt.

To me it seemed like they bought debts and waiting until it fucked the person's credit score up to the point that they did the leg work to contact the collector and pay it off.



Bottom line is, don't fuck with your credit score.... And a tiny unpaid bill can really screw you over
 
Y
animal-inside said:
I moved provinces once a long time ago. I lived with a house full of other guys and the internet/phone was in my name. After the lease was over, I moved to a new house in the same town and lived their for another 2 years. I got various other bills in my name, bought a vehicle on a loan etc.. No issues at all.

Then when I moved to a new province, all was good until I went to buy a new truck. I was told my credit wasn't great, but I was still able to buy the truck. I figured it was because I was young, had student loans, just a couple years into my first real job etc..

Then 3 years after I went to buy my first house. Again, bank said I don't have very good credit. At this point I figured I should have good credit because I had been making good money, stayed at the same job for 4 years, had permenant contract with my employeer, paid off all bills except my studnet loans etc.. So I asked the bank what the hell was up.. They said I have a outstanding debt that has gone to a collection agency on the other side of the country. That's all the info they had.. They gave me the contact info for the collection agency aswell.

So the next day I called them to figure out what was up... I owed 85$ from that internet/phone that was in my name.. I forgot to pay the very last bill...
85$ almost stopped me from buying a 35,000 truck... Then it really stopped me from getting a 300,000$ mortage.. I couldn't beleive that's the damag from a forgotten bill did to me.

I admit I absolutely lost it on the phone with the collection agency becase they made not one fucking attempt to get into contact with me to inform me I owed 85$. They said "we had no way to get a hold of you"... I called bullshit because I had other accounts with cell phone company, utltities companies, bank accounts, my name was in the phone book etc.. Even the internet/phoen company GAVE THEM my personal info when the collection agency bought the debt from them.

After talking to the lady more on the phone and doing some reading about their company, they were a sleezy mom and pop couple that did a bit of collection agency and had 3 other shitty little companies in their name like carpet cleaning etc.. Just 2 ppl running tiny little shitty businesses..

I was pissed, but I had no recourse to take it any further, but the lady admitted to me they could have tracked me down if they wanted too but they don't have to do that when they buy a debt.

To me it seemed like they bought debts and waiting until it fucked the person's credit score up to the point that they did the leg work to contact the collector and pay it off.



Bottom line is, don't fuck with your credit score.... And a tiny unpaid bill can really screw you over
Click to expand...

isn’t that the truth. It took me 7 years to get my credit back to what’s considered good. Takes forever to build but not long to destroy.

similar thing happened to me. I moved from NB to AB. I switched banks and got a new phone number and assumed my car insurance would cancel after my term ended. Turns out for like 6 months they kept trying to take payments and eventually passed me onto collections. Thinking back I should of defiantly called but I was in my early 20’s and I wasn’t being smart. The amount of extra interest I paid over the years because of a shitty score hurts my head.
 
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