How to get rid of O.S.A.P ???


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sunnylegends   
Member since: Sep 04
Posts: 18
Location: mississauga

Post ID: #PID Posted on: 14-05-07 08:33:36

HI ALL
I want to know that how to get rid off or pay off OSAP quicker and sooner? any advise from any Expert and wana share his/ her own experiences with me? i got $20gs for my collage education and still looking for job.
thanks
Sunny



camike   
Member since: Oct 06
Posts: 9
Location: T.O.

Post ID: #PID Posted on: 14-05-07 12:46:35

Hello:

Why do you want to pay off your student loan sooner?
OSAP interest is one of the few that is tax-deductible. So keep paying the minimum and invest the surplus that you have. Or use any surplus as a down-payment for your mortgage.
I am assuming that you have or will have taxable income soon.

There is good debt and there is bad debt.. OSAP qualifies as good debt.. PROVIDED you use it intelligently.
Consult a financial planner if you have one. Or use your Dad's or Mom's or that uncle's financial planner!!

But seriously.. don't worry about repaying OSAP right now..
Develop your skills, get a job, become an expert in your field.

and remember a sure-fire way to become rich...

SPEND LESS THAN YOU EARN

- CAMike





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