Students

Am I Eligible For Government Loans?

  • Last Updated:
  • Jul 27th, 2018 9:45 pm
[OP]
Jr. Member
Nov 24, 2016
126 posts
31 upvotes

Am I Eligible For Government Loans?

I'm starting law school this September. I have enough cash/RRSP to cover my expenses, which complicates things as far as government loans are concerned. Will I be eligible for government loans if I take all my cash and invest it in something?

Government student loans are interest free while you're in school so I'll be able to use the money and pay it all off in one lump sum payment as soon as I graduate. Has anybody done something like this before?
3 replies
Deal Addict
User avatar
Aug 15, 2015
1111 posts
147 upvotes
Markham, ON
Why don't you just submit an application and find out? You sound like you are no longer working, thus making a $0 income, and those cash and RRSP you speak of are your savings.
Deal Fanatic
User avatar
Mar 23, 2008
6947 posts
3946 upvotes
Edmonton
Poppwl wrote:
Jul 14th, 2018 8:20 pm
Why don't you just submit an application and find out? You sound like you are no longer working, thus making a $0 income, and those cash and RRSP you speak of are your savings.
Well, you're half right...
https://osap.gov.on.ca/OSAPPortal/en/He ... 03080.html

Don't have to report RRSP's, you DO have to report cash, TFSA's, GIC's (non-registered), stocks, mutual funds, etc.

The government isn't there to provide free money for someone to play with (i.e. invest) while they're going to school. Student loans are there to help support students going to school.

C
Sr. Member
User avatar
May 19, 2015
573 posts
186 upvotes
CNeufeld wrote:
Jul 27th, 2018 5:40 pm
The government isn't there to provide free money for someone to play with (i.e. invest) while they're going to school. Student loans are there to help support students going to school.
THIS. Plus OP you're going to law school... you should know how to research?
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