banned-users

UWaterloo is a special kind of place

yep

I love it

Also don't worry spooky, I am effectively down to 1 assignment for the time being Kappa

Finished everything else early

So the people at my school are really mad right now

the provincial government is taking away the gimmies

lower free money, no longer a 6 month grace period before your school loan starts gathering interest, but an overall 10% tuiton cut

not sure that 10% cut covers the 6 months of extra interest

It probably does not because you get less free money that you do not have to pay back, which has been shifted to a loan

so more money to be charged interest on

not a problem for me since I was just going to pay back my school loan right away anyways

Depends how much you borrow

It should fuck the real whores

you do not get to choose how much you borrow

???

it is calculated based on income bracket and tuiton costs, so if you apply for a student loan you get what you get

Pika, you don't have to take all of it though

That's the point

That's how loans work

You "qualify" for up to X amount

no, so in order to do that, technically with how our system is set up, you have to take the full loan, then immediately pay back what you don't want

or you can opt to get no loan and just the free money, which was at like 30%, but now is going to be less

so they give you less leeway so it's harder to get by without taking the loan so they can trap more people in a lifetime of student loan debt hell

how expensive is the typical us school for someone from the US

per term

Pika, I really think you're wrong on the loan thing, that just make no sense

But I don't know enough

I have never once seen an option to select to be payed less

maybe you can if you like, send the ontario government agency responsible for this a letter

idk

That's how you would do it in America, kind of

All of this is through a website, I can go check to see if there is an option I am missing

It doesn't really matter

I could understand your stipend being a set amount

But not the loan

both are set here

¯\_(ツ)_/¯

I like how people actually go to reddit with problems

Why

Might as well go to yahoo answers

okay, then the system to do that is not plainly obvious and as I said, you need to send them a letter for that

That's fine

My mistake

I accept that it's non-obvious and probably discouraged

And for all I know 99% of people take the full amount

And maybe in Canada that makes sense

In America at least, you usually qualify for a ridiculous loan amount And people accept 100%, even though everyone would advise you against it

whats US interest on student loans?

Depends

Most of it is differed

Yea its usually a shit rate too

my interest is 2.5%

We have tiers of loans in the states

And you can accept a ton of different ones at once

I see

Thats why you accept all of them and move to mexico Kappa

capitalist america my dude

Anywhere from 2%-8%

I suppose I do often hear about US students being fucked and stuck in debt for a while (mostly the majors who do not make money), I don't typically hear about that from canadians but idk

I think that more has to do with the cost of uni here rather than than the loan interest

The problem is, if a highschooler is offered 100K, they'll take it, go to a school they couldn't otherwise afford, and major in something stupid

As opposed to doing something responsible

What is the usual cost for local students

for a moderately decent school

That's also why college costs so much in the states, every kid has access to stupid amounts of loan money

Most universities are around $20k/year

For in state

Maybe not most

And dorm/food

I think you get a pretty wide range

18-22

I pay like 6.5k a year

housing if I lived on campus would add I think like 800 or something to that

Idk the costs for any college other than my local 2-year community college

but it lists it's average cost for students living in town with family

On second thought, Reggie you're right, 20K a year is a decent enough estimate before you take into account scholarships and the like

"Students residing at home with parents providing food and housing should budget a total cost of $5,124."