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hi,
I just got decl for a CITI driver's edge and they said it was because they didn't get sufficient info from equifax and they only see my OSAP,never had a cc, have pt job(under-the-table) and I haven't paid my OSAP yet cz I'm not graduating,so OSAP being in my credit report affecting me NEGATIVELY when i apply for major CC's ie.AMEX???
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Dec 26th, 2006 02:43 PM #151its worthwhile to pay it off asap. you pay 100 interest out of pocket, but then get back 100 in credit means you won't have to pay tax on 100 worth of income, so that comes to about 15% back in your pocket.
Originally Posted by Hybrid88
so ur paying 100, getting 15 back. get a paper tax return and follow then numbers and simulate some scenarios if you want more detail_______________
It is said that the reason why leaves fall from the branch, is to allow new leaves to take their place. No matter how sad the fallen leaves look, there will always be new sprouts in the spring. Perhaps emptiness in the heart is something like that.LOG IN TO THANK No one has yet thanked BBQPorkBun for this post.
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Dec 28th, 2006 08:34 PM #152Jr. Member
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Dec 29th, 2006 01:06 AM #153Its not that its affecting negatively, its that they have assessed you and found that at this point, they don't wish to grant you more credit especially with only a PT job. They only see your osap meaning they've never seen you so far demontrating responsilibity paying off debt. Originally Posted by mayluvz
Don't worry, theres plenty of companies out there waiting to give credit cards to students, sign up and get something free. After you build up some credibility, try again in 6 months. But make sure u know what their income requirement is cuz it can be just that factor and you could be declined again which doesn't look good._______________
It is said that the reason why leaves fall from the branch, is to allow new leaves to take their place. No matter how sad the fallen leaves look, there will always be new sprouts in the spring. Perhaps emptiness in the heart is something like that.LOG IN TO THANK No one has yet thanked BBQPorkBun for this post.
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Jan 2nd, 2007 12:56 PM #154
How on God green Earth can it take 3 buisness days to fax a reciept?
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HEATWARE (21 - 0) - evilbabyLOG IN TO THANK No one has yet thanked Evil Baby for this post.
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Jan 2nd, 2007 08:45 PM #155One person has to tell another to tell another. Then theres a line for faxing stuff out. Thirdly, they want to be conservative and protect themselves so 3 days is the max. Originally Posted by Evil Baby
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It is said that the reason why leaves fall from the branch, is to allow new leaves to take their place. No matter how sad the fallen leaves look, there will always be new sprouts in the spring. Perhaps emptiness in the heart is something like that.LOG IN TO THANK No one has yet thanked BBQPorkBun for this post.
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Jan 3rd, 2007 09:20 AM #156Deal Addict
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After being eligible for about $4700 from OSAP a few months ago, I walk into my college today to find out that I am no longer qualified to receive OSAP.
Due to the income I will be receiving during my study period (I'm supposed to start my new program in January--next week), I am no longer eligible to receive anything from OSAP. Apparently, you're only allowed to make $50 a week during your study period in order to qualify, and I'm making over $100.
I guess there's nothing I can do about this apart from quit my job. The person at the Financial Aid office gave me a form to apply for aid from the college and other places, but I have no clue how much I could get from them.
Is there anything you might know, BBQPorkBun, that could help me out here? Or am I royally screwed now?LOG IN TO THANK No one has yet thanked MadCow for this post.
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Jan 3rd, 2007 11:34 AM #157Apply for aid at the college, at the same time, appeal to osap in writing explaining your cirucmstances. Quiting your job and sayig something like you need to quit to study etc. will help your case. I am confident this will work out. Originally Posted by MadCow
Whenever it comes to predicting future income, always be a pessimist and say 0. Because really you never know, job might be taken already or fired/layoff. When you get the loan and its in ur acct, then go for the job because theres no way for them to chk, your employer is not gonna make sure student loans know how much you are making.
Assume no work first, get loan in ur acct, then look for the job._______________
It is said that the reason why leaves fall from the branch, is to allow new leaves to take their place. No matter how sad the fallen leaves look, there will always be new sprouts in the spring. Perhaps emptiness in the heart is something like that.LOG IN TO THANK No one has yet thanked BBQPorkBun for this post.
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Jan 3rd, 2007 12:20 PM #158
I think i'm going to run into some problems in getting OSAP. I'm currently in first year and I had a loan over $10000 and on my income i stated I will make $1000 during the school year but i've actually have made around $3000 now and i'm guessing $5000 by the end of the semester. During the summer i'll expect to make another $5000 if not much more but i'm not getting any help from home because of the financial situation and I live away from home too. So i'd like to know how much money can you make before they start taking money from your loans during study period and time off. Also after passing that limit at what ratio do they start taking off your loan? (e.g. $3000 over limit $1000 taken off osap loan) Cause in the end I don't want to end up working my ass off missing some school to go to work and only to find out that in the end i'm worse off than had i just not worked as much. Also BBQPorkBun thanks for making this post its very resourceful
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heatwareLOG IN TO THANK No one has yet thanked thezone for this post.
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Jan 3rd, 2007 01:01 PM #159Deal Addict
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Thanks for replying, BBQPorkBun! Originally Posted by BBQPorkBun
I'm wishing I didn't mention my job when filling out the Income Verification form. What made me uneasy though, is that my employer is my college. My work ID is my student ID. I'm sure you're right about student loans not figuring out about my income, but the office I work in is right beside the Financial Aid office; plus, I already had the job for a few months.
After running other errands at the college that included inquiring about Advanced Standing, I found out that I would have bumped into more problems with OSAP. If I'm granded advanced standing for what I applied for, I'll be attending only a 33% course load, which would disqualify me for OSAP anyway. I was screwed regardless.
If I get a bursary from the college, and a tuition refund from this advanced standing, I should be alright financially to continue my education.
Thanks again for your input. Your knowledge is appreciated.LOG IN TO THANK No one has yet thanked MadCow for this post.
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Jan 3rd, 2007 02:16 PM #160
Not telling the truth about having a job will not effect this year's funding but I am sure your future funding will be reduced. They verified your income with CRA EVERY YEAR.
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Jan 3rd, 2007 03:26 PM #161They assume you make about $1000, anything more than that and you will see your osap going down. Unless the job is for experience and is a great benefit to your professional future, focus on studying, take the 10k in which 3k of that will be a grant. Originally Posted by thezone
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It is said that the reason why leaves fall from the branch, is to allow new leaves to take their place. No matter how sad the fallen leaves look, there will always be new sprouts in the spring. Perhaps emptiness in the heart is something like that.LOG IN TO THANK No one has yet thanked BBQPorkBun for this post.
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Jan 3rd, 2007 03:29 PM #162Not really, by the time they check your last yrs income, they are more interested in your current assets and future income once again. I myself have always received the max amount at the time and then did 3 part time jobs after receiving the loan and osap was not affected. Originally Posted by netriones
The truth is I'll assume I make nothing until I make it.Last edited by BBQPorkBun; Jan 3rd, 2007 at 03:34 PM.
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It is said that the reason why leaves fall from the branch, is to allow new leaves to take their place. No matter how sad the fallen leaves look, there will always be new sprouts in the spring. Perhaps emptiness in the heart is something like that.LOG IN TO THANK No one has yet thanked BBQPorkBun for this post.
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Jan 3rd, 2007 03:45 PM #163You are welcome. Originally Posted by MadCow
Just keep in mind if you were to be declared part time in this term, your interest and grace period would of started jan 1 and expect repayment of your loans starting in 6 months.
Sounds like you are in ok shape. Good luck.Last edited by BBQPorkBun; Jan 3rd, 2007 at 03:48 PM.
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It is said that the reason why leaves fall from the branch, is to allow new leaves to take their place. No matter how sad the fallen leaves look, there will always be new sprouts in the spring. Perhaps emptiness in the heart is something like that.LOG IN TO THANK No one has yet thanked BBQPorkBun for this post.
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Jan 3rd, 2007 08:41 PM #164I sure as heck hope 3 days is freaken max. It's a damn fax!. Just so frustrating because I have to wait for them to send my school a reciept, so I can give my school a reciept so they can send OSAP a letter letting them know to release my next years forums. I'm sure that'll take another week(if I'm lucky). Then they'll finally send me the documents which I'll have to fill out again, sign a gain and send back to OSAP. Then wait another week for the cash. Good thing I have some cash saved up to last me through January but I might be screwed for one of my classes that I need to buy a membershp to OCETT. Originally Posted by BBQPorkBun
I wish I got lucky like you and they never found out about my part time jobs, but that is not the case and that is why I had to pay back $2546 in a matter of weeks._______________
HEATWARE (21 - 0) - evilbabyLOG IN TO THANK No one has yet thanked Evil Baby for this post.
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Jan 3rd, 2007 10:40 PM #165My case is not the same as your case. Originally Posted by Evil Baby
Go to the centre in person, may make things go faster. Southeast corner of hurontario and robert speck road in mississauga, 9th floor. a block from square one._______________
It is said that the reason why leaves fall from the branch, is to allow new leaves to take their place. No matter how sad the fallen leaves look, there will always be new sprouts in the spring. Perhaps emptiness in the heart is something like that.LOG IN TO THANK No one has yet thanked BBQPorkBun for this post.
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