AFAIK any accounts that were active in September 2011 were consolidated into a joint "Canada-British Columbia Integrated Student Loan", how this affects this bill I have no idea. I'm not entirely sure the legality of this entire thing as StudentAidBC still delineates between BC and Canada Student Loans. However after the 2011 consolidation of my active account, all payments are made through the Federal NSLSC.

I would suspect this is irrelevant anyways as a majority of Student Loans in default are likely from years prior to the consolidation. However, this is quite interesting.

I was on a post September 2011 student loan from May 2014 to when I paid it off late last year.

It's a monthly payment taken directly out of your bank account.

ITT: People try to defend those who abuse the system.

lol, I'm not torn in any way. If you owe money that you promised to pay, then simply pay the fuck up or don't drive. There may be a few rare cases where people after graduation are struggling to meet ends meet and would perhaps require an alternative payment schedule, but I guarantee you that majority are just wasting their $ on gadgets and being lazy asses. Gotta love this idle generation that love to claim victimization status. Spoiled as fuck.

I don't understand the how effective this execution would be.

1) If one borrows student loan, doesn't he need to have a guarantor to back-up the debt?
2) if one decides to leave the country without paying the loan, he doesn't even need to renew his driver's license

We live in Canada where education is highly subsidized. Just ask what a foreign student pays. Also, tuition prices vary by province and regions such as Quebec are like 2/3's of what they are in BC.

Tuition only seems expensive if you live on your own and have to cover living expenses as well. Harder, but definitely doable depending how motivated you are. Since most people aren't, they will find it tough. I know countless stories of people who made it through university with graduate degrees who didn't come from wealthy families but financed it by loans, working, and scholarships. Their work ethic is second to none.

If you pay your loan on time then you will be fine. Also if you can't find a job to pay your loans right away all you have to do is call up student loan and tell them "Hey I don't have job now can I start paying my loans 6 months later?" They will defer the date for sure. Sure they still charge you interest on it but hey at least you don't have to pay and keep your liscense.

Once you get a job then start paying up. Why should people who play by the rules get screw? I pay back every penny I owe to student loans + interest. In fact during my first few years of graduate all my money goes to food, rent and student loan. Paid it all off in 1.5 years to avoid paying the gov more interest.

No, its like me selling you a fishing rod so you can lean how to fish but telling you that you need to pay me 1 fish for every 2 fish you catch until you pay for the fishing rod. But instead you keep both fish and trade one of the fish for a fart pipe for your civic.

And after me continually asking you to give me my fish, and trying to make arrangements with you to only pay me half a fish instead of a whole fish, or look for some assurance that I might get my fish in the future, I get fed up with not getting any fish, and tell my buddy at the gas bar that hes not allowed to sell you any gas until I get the fish you owe me.

The government should just garnish their wages or take the money out of tax refunds and such?

Does anyone know if their credit is affected when the loans get written off?

If you're having a hard time paying back the loans you can contact them and work out changes to your repayment schedule, you'd only have it come up at ICBC if you aren't making payments and haven't bothered to make alternative arrangements.

If they do pay for it, I feel like their need to be more restrictions on it. For starters the money should go straight to the school, not the dumbass who wants the money to do a motor swap. They'd also need to set it up so that if people change their mind and don't complete a program, or change programs partway through, they have to repay the wasted cost unless they go back and finish within X years. The number of people who bail out of programs or take useless ones would waste a huge amount of money that the gov't shouldn't pay.

FunkyColdMedina just doesn't seem to get it with his fucked up logic.

Even if you are late for a single monthly payment, your credit score will be affected like a late credit card payment.

This is why I wonder how effective this policy will be. If you are willing to drive your credit score to the ground over 100~200 per month, I don't think this is going to convince them to start paying.

oh shit what if the person is actually having a financial difficulty?
the bad thing about Canadian student loan is that it can't be eliminated by filing bankruptcy.

and taking license away is a bad idea since a lot of people need a license for their jobs.

and not to mention University Degree is a new High School Diploma.

It's not like back in the day, if you had a University Degree, somebody will hire you and you will have a successful life.

I don't think ICBC, as a company, is reliable enough to handle another database for tracking and collection. This is based on my personal experience with ICBC. I am not sure what the specific problem is logistically, but they have made numerous mistakes in the past specifically with the bill that I have to pay or the exact amount of insurance discount that I was eligible for. My feeling is that the discrepancy usually comes from the software side of things. It seems to me that the software they commissioned is full of bugs and there really isn't any kind of accountability on their software lifecycle.

Are you too lazy to read ANYTHING, or just plain stupid?

You don't need a guarantor for a government student load. You need one for a education line of credit from a bank unless you're in a program like med school, law school, dentistry, etc.

And your 2nd point, yah he'll be free of having to pay it back if that is the case

oh shit son, I've seen so many university students going back to their country after grad.

So,...do you know the correct way to address someone with an Arts degree...with majors in polysci, women's studies and philosophy???....."Yes I will supersize that order". :woot2:

duhh...

ICBC
End ICBC Monopoly

let it stain your credit history and may be affect your academic records like when you're caught lending/selling your u-pass but it should be penalized solely in educational affairs and not affect your driving privileges

incorrect? at least not the case few years back.

Actually it's not a bad idea - support it 100% as long as it does not increase the Admin costs for ICBC which will increase my premiums.

People do what is inspected not what is expected.

it's not that simple, more people lose their license, which means more people lose their jobs. Less tax income for government & more people go on welfare, it's just gonna cost tax payer more money.

Good idea. Don't pay student loans = no BC Hydro service. :whistle:

I tend to agree with this policy. DL is a previlige, not a right. It seems to be a reasonable deterrent for those living in BC.