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Rank: Frosh
Groups: Member
Joined: 3/4/2008
Posts: 36
Location: Hamilton, ON
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So right now I'm researching if I should apply for OSAP or not.
Would it be better if I took it, or would it be better if I don't. (LMAO WOW. repititive)
basically, i'm just wondering if OSAP won't make us broke. because some people have been paying their OSAP bills for YEARSS.
i dont want that to happen to me.. soo
tell me what you guys know about it
how much we pay them, the interest rate and etc.
experience it - enjoy it - just don't fall for it <3
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Rank: Senior Student
Groups: Member
Joined: 4/8/2008
Posts: 197
Location: Oakville
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Well let's see, many people really don't have a choice regarding OSAP They can choose between getting OSAP and going to school or not taking OSAP and not going to school. If you don't need OSAP to go to school then obviously don't get it. If you need a loan then it's your best choice.
Pourquoi?http://www.youtube.com/watch?v=jf94uiIbItg
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Rank: Valedictorian
Groups: Member
Joined: 3/5/2008
Posts: 681
Location: Kingston and Toronto
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I would only take it if you get the loan+grant.
Uschi
Queen's '10
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Rank: Senior Student
Groups: Member
Joined: 3/13/2008
Posts: 199
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Ooosh wrote:I would only take it if you get the loan+grant. Excellent advice here is given by Ooosh. The problem is the interest rate is high compared to perhaps what you can get in a student line of credit or some other bank loan. My friend did a lot of research and she came up with a much better rate than OSAP. She knew she was not going to get the grant.
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Rank: Student Body President
Groups: Member
Joined: 3/5/2008
Posts: 1,711
Location: Wilfrid Laurier University
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It's interest-free until you graduate. Why not take it, invest it in a safe investment earning 4% or 5% per year and then pay it back immediately upon graduation? Free money.
-Stringer
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Rank: Student Council
Groups: Member
Joined: 3/4/2008
Posts: 348
Location: Guelph, ON
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Stringer wrote:It's interest-free until you graduate. Why not take it, invest it in a safe investment earning 4% or 5% per year and then pay it back immediately upon graduation? Free money. Or the stock market. if you're feeling lucky.
UW Math/WLU Business Double Degree 2013
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