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Monday, March 3, 2014

Does it really make any sense at all?

I knew my brother own a lot in student loan, I was still shocked to learn yesterday that he owned close to 40k in student loan debt.  He has to pay close to $500 pet make month just as minimum payment only. It just doesn't make any sense. As her sister, I told him to give the f student loan a call and shake up things. My brother live in one of the worst place in Canada: Ottawa. Ottawa is a shitty expensive place where public transportation suck. Ottawa only get exciting on one day per year: 1th of July. The Hill is full of shit and the whole renting area is super upper expensive and the workplace is extra fresh and arrogant and many workers are under paid because too much jobs are being managed by staffing agencies. I lived a few years in Ottawa and I was really happy when I left if you see what I mean. I very dislike my time in Ottawa, but I like to go there once in a while, but not very often.

So knowing all that, and especially knowing that my bro live on less than 50k per year, knowing he live in an extra expensive fresh f arrogant Ottawa are, hell in the world, why does he have to pay close to $500 per month on a F student loan. Does it make any sense at all?

My bro decided to follow the flow and do like too many other young people do: enroll to a Canadian university, be clean and and go deep into debt by enrolling into student loans. And what did he got in return? A holly bunch of debt. And a job, sure, but not a 50k a year salary. I don't think the Canadian educational system worth the debt it cost.


Anonymous said...

What is shit is the interest rate on student loans - 5.5% - why not the same rate that banks give homeowners on their HELOC - 3.5%? Because they are bastards.

Anonymous said...

Anon, you're joking right? Student loans are riskier.. A HELOC is secured loan. If you don't pay, they take your house and sell It, so there's far less risk. How's that supposed to work on a student loan?


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