I know things are probably different here in Canada than in the USA, but when I was unable to get a government student loan based on my parents' income (of course they don't care that my parents had a mortgage, a new truck etc. to pay for... there's no way they could afford to send me to college!) I went to the bank and got a student line of credit. At the time, it was a maximum of $40,000 over a maximum of 4 years - I had to figure out how much I'd need for the year and go in every year to have that amount approved. While in school, I did have to pay just interest on the amount I used (I think it was a relatively low interest rate). A year after graduation, the amount I owed was consolidated into a loan for repayment. It was nowhere near the kind of deal I'd get from a government student loan, but it was lower interest than a straight-out every day loan from the bank.
__________________ Lindsey and Layla, Lucy, and Kash  |