Dear Aska,
I really really need your help asap. I just found out today that I will be getting no OSAP from the government because according to them my parents make way more than enough money to cover it. However, they don’t seem to take into consideration the fact that my parents will NOT be covering it, nor have they put any money away for me, nor are they in the position of doing so since they’re way in over their head in debt. My mom’s currently in school too, hence she’s no longer working. So what the friggin hell can i do?!?! i mean there’s no way i can handle this comfortably unless i can get a bank loan, but paying that off in itself is going to be impossible and will place me in A LOT of debt by four years! I do have a job, but if i were to take that path strictly i’d probably only be able to cover the monthly interest. SO please HELP me! is there absolutely nothing i can do or anyone i can talk to at UOFT regarding this problem? is there any other form of financial aid that is available to me? any input you may have is highly appreciated please please tell me what other possibilities there may be, if there are indeed any!!
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Ok Mother Hubbard, take a deep breath. You are not without options.
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a) OSAP is a (comparatively) great service, but I know that it can be a cold, unyielding a-hole sometimes. People in our position (you and Aska) typically won’t qualify for OSAP until they have been out of high-school for 4 years.
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b) A Student Line of Credit seems to be the most common solution to financial shortage. The interest rates are better than the average, and you will only pay interest on what you have used. Commonly, you need your parents as signatories to it, although they may never pay a cent toward it. This is not to deny the fact that bank loans are tough, and they hang around unwanted for a long time; kinda like flies on $h!t, or Everybody Loves Raymond.
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c) You really need to talk to a Financial Advisor/Counsellor. Call your Registrar’s Office and book an appointment ASAP!!?You might even find that the university can actually distribute bursaries here and there.?
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d) Thanks for using the word “friggin”. It takes me back to a much simpler time and place. Refreshing.
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Watch this, you’ll feel better.