Students

Finish school and start to repay OSAP

  • Last Updated:
  • Jan 26th, 2019 9:44 am
[OP]
Newbie
Oct 14, 2017
10 posts
4 upvotes
Extrahard wrote:
Jan 20th, 2019 9:29 am
Congrats, it is not that difficult for an able bodied young adult working full time to pay off their loan quickly. All it takes is some sacrifice combined with careful planning.
Thank you!! Grinning Face With Smiling Eyesso happy now
[OP]
Newbie
Oct 14, 2017
10 posts
4 upvotes
Tadalafil wrote:
Jan 20th, 2019 10:12 am
Congrats, paying off $30,000 in 14 months as a new grad is no small feat.
Thank you! Grinning Face With Smiling EyesNothing magical, just track every cent I spend and save&earn every cent I can
[OP]
Newbie
Oct 14, 2017
10 posts
4 upvotes
mkl38s wrote:
Jan 21st, 2019 10:43 am
Congrats. I knew someone who made decent money and did not pay off her OSAP till recently. It took her 10 years to clear $40K loan and paid quite a bit of interest during that period :(
10 years...Even within 14 month, the interest rate had increased 3 times (every time they did i was like really?again?)......so yep she did pay a lot interest
Penalty Box
Apr 15, 2011
3741 posts
456 upvotes
Scarborough
OSAP has low interest rates if I recall. It's not even 7% interest. Definitely start paying it down. If you're living with parents, you can pay off like $10k per year easy

Top