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How can I apply for a student loan?

How can I avoid paying back my student loan?

  • I'd like to start off by saying I don't care/ want to hear opinions on if what I am doing is ethical, right, etc. I am asking on tips HOW to do it. I think it is unjust for people to even have to pay for education if they graduate, so again, please keep to answering the question, not your opinion. If you don’t have an answer, don’t offer a wrong one or your opinion instead, thankyou! My goal is to pay NONE (or very little) of my Federal and Provincial Student Loans back. Background info: -I will graduate university with a debt of approximately $90,000. -I will have a bachelor degree in Honours Communication, Media, Film Studies; a Bachelor in Education; and a Masters in Media Studies. -I live in Ontario in subsidised housing, work as a waitress and I am a sole support parent of a permanently disabled child. My non-student loan income is about $2000/ month. -I receive approximately $25,000 a year from student loans- $10,000 per year must be paid back; the reminder is covered by grants. In total I will spend 9 years in school (7 for the above mentioned degrees, 2 wasted on a useless certificate in community college). -Of this $25,000 yearly amount I spend $15000 on tuition and books and save the other $10,000. -My son and I do not live off the student loan living expenses amount (that above mentioned $10,000); we live very frugally off my work income and his disability money. -By graduation, I will have saved approximately $70,000 from student loan money. This money is in a savings account that belongs to my VERY trustable and financially stable brother. I keep it in his account so the government does not know I save this money. -When I graduate (once I find a job in my field) I should make around $60,000-$70,000 a year. My plan: -Upon graduation, I will use my savings to put a large down payment on a modest home that will be in my brother’s name, not mine. He will put a short term mortgage on the remaining balance and I will pay his mortgage payments as “rent”. This way the government cannot seize my home. -I will pay the ABSOLUTE minimum monthly payment on my loan for 7 years (5 if I get lucky) and then file bankruptcy. Why 7 years? In almost all cases, student loans cannot be erased in bankruptcy prior to 7 years after the student finishes school. - In the year before I file bankruptcy, I will max out all of my credit cards on my son’s private school tuition (see below). -I realize my credit will be ruined but I will have a home and a car so I will not need “credit” in my own name. Why am I doing this? -My son has severe Autism; I would like to ensure he gets the most out of life. I had him when I was young and I don’t want him to have to grow up poor or not succeed because of my mistakes. I want to afford him the best services possible, which, of course, cost money. Private schools for Autism (in Ontario) cost a minimum of $30000 a year, but will give him the best services. They are also located only in the GTA, which is very expensive to live in. Paying back my student loan will mean I will not be able to afford both a normal lifestyle and his tuition. (I am very frugal by the way- I buy second hand clothing, drive a used car etc.) By doing this I will have a very successful career and afford my son a good life and the best services possible. Now, most importantly, My question: During those 7 years of paying back my loan before bankruptcy, is there any way to avoid paying the loan? Has anyone put off paying a loan off for years (while being legally employed)? If you have tell me how you did it. Note: living in the US for a few years may be an option.

  • Answer:

    uh..biggest problem is that 7 years won't wipe the student loans out. They will still be due under the bankruptcy court. Stealing money would always be a minor consideration for some people

trenaud8... at Yahoo! Answers Visit the source

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It used to be that you could file bankruptcy and not have to pay back your student loans, but nowadays it's almost impossible to do this. When you don't pay what you owe someone else will eventually have to for you (increased tuition costs for others, increased taxes to support state-funded universities). Everyone has struggles. Just because your son is autistic doesn't mean that you have a right to cheat the system.

how about you spend more time figuring out how to pay back your student loans and less time righting a freaking novel about it.

I hope you get caught. You're stealing and and karma will find a way to make things right. Just get a job the provides repayment.

a_non_ah_mus

Probably not. If you're employed they could start garnishing your wages and it's going to tank your credit and the credit of anyone else who may have cosigned for you. Don't tank your credit because if something were to happen and you HAD to put something in your name your credit's still going to be crap, it takes years to built it back up. Besides the lower your credit score is credit card companies have every right to lower your maximum balance and raise your interest. They could even deny you completely.

Kayla

People on welfare who don't horde electronics, clothing, shoes, appliances, accessories save the allowance money they receive equal or more than minimum wage without deduction & put any property that may need registration under a financially stable relative such as a car or land. Some even inquire their employer to doctor actual wages to lessen amount reported or simply work for cash. So not only you get extra money, you get all the benefits as well. Disabilities can get you on welfare for life, such as insanity, nervous breakdown, down syndrome, etc. not sure about autism, but rich people like JFK sister lobbied to enact gov. aid to retards is so that they don't have to pick up the tab for treatment & actually make or earn income out of it. If this was the kind of stuff your into, you didn't need an education. Being on gov. dole for the rest of your life doesn't make you poor because you didn't have to earn it by working in exchange. Anyone on welfare are hardly poor, most are greedy, irresponsible & lazy, while some righteous & hard working gets turned into a sloth cause it's available. Born into poverty in a large family (14) in an equatorial nation were some poor people act like socialite & have maids. Arrogant father town drunk never earned a living until sobering up in mid 50's of age supported by idiot mother's sacrifice & small plot of land 30 sq ft 2 story house in urban city given by fraternal grand father. Shared the floor with siblings & married siblings dividing 10 sq ft room for themselves. Never had more than five piece of clothing. endured 1 meal a day, eggs & tomato, or a slice of bread with condensed milk filling. Spend some years living in a hut property of maternal grand parents. No plumbing, electricity or gas stove, & nature was the commode. Parent got visas for permanent residency abroad. Followed year after with teen sibling. Parents filled low end jobs & refused welfare. Lived in studio type apartment & sacrificed with parents so they can support married elder siblings left behind who seems to multiply due to their charity. Parents were never angry of the affluent just crooks, swindler, & thieves many they warn are greedy tribal poor. Use to hate the rich for their arrogant attitude but realized poverty is irresponsibility, greed, & slothness. Parents depend their irresponsibility in spawning more than they could by pointing out that one, two, or none would've been born if they hadn't. If Souls are in line to be born in this terrestrial world, then the soul next in line would've just been born to another that may be more responsible. Too many are concerned about living affluent rather than living self sufficient/reliant. It doesn't matter how much you earn but how you live your life & the road you took. This video exemplifies what it means to persevere through hard work, determination, & suffering 10k X supported by a state of mind or virtues of humility, courage, hospitality, honesty, & honor suppressing pride, greed, & envy. Others call such virtues as 'nintai or haji' to live in a sound society were the strength of the society is through the self reliance with a positive state of mind of all individual that will falter if "NONE" or extremely few are capable of being self reliant with virtuous principles. The result is that equatorial nation that simply waits or begs for charity regardless of resource abundance while others without resources rise to self reliance without charity. http://www.youtube.com/watch?v=Hw4UR_9eiwY http://www.heritage.org/index/ranking

Blanco Y Egro comedones: The Campaigner

Wow, this is a really smart plan it will take a while to execute but still pretty good. You seem fairly intelligent i'm sure you will figure a way out to not have to pay back your loans. I wish you and your son the best of luck. Whoever said women ain't smart never met one with money on her mind or maybe they have and didn't realize till the money was gone from their pockets.

APerson

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