Thanks Jake,
I agree 100%. Getting a loan for education is the best investment one can do. This should be one of the options newcomers should consider if they find themselves in financial hardship or current employment is not satisfactory. IMO anyone who spent time looking for a good job and has Indian experience should consider upgrading training/education to meet Canadian needs irrespective of their current education level, instead of crying over lack of opportunities here. While looking for job, spend time understanding the system, explore other options, and see if upgrade in the training will make once profile more appealing to employers. There is not one option which will suit all newcomers, we have to select ours based on our status. If successful, and I have example, the person earns 75K who use to earn 25K. One has to put in year or two of hard work.

Quote:

---

Originally posted by jake3d

...
Jokes apart maybe we can make this thread more meaningful by focussing on the education aspect instead of the Chinese aspect?

---

-----------------------------------------------------------------
SS
Reiki Grand Master

Education from Canada pays back fast. Me and my batch mates (group of 50 plus) are well employed within their area of interest.
For OSAP, If family income is under 50K - 60K (my guess) applicant is elligible for OSAP. Applicant residence status less than 1 yr will qualify for the Federal portion. Over 1 yr residence qualify for the provincial portion which is more of supplement income that is not part of the loan. At present OSAP interest rate is prime plus 2.5
As Jake3D mention it is on flexible term and can be paid back over a extended period.
In my case family income was under 30K and I am paying back OSAP @ 8.5%

-----------------------------------------------------------------
Check for pervert's database here http://www.perverted-justice.com

I was under the impression that OSAP loans are interest free upto the time one finishes his education and only after that the interest starts. My son has taken a loan both in 2005 and 2006 - so does it mean that interest has started accruing? If he pays back the loan say tomorrow - will he still have to pay the interest till date?

Chandresh

-----------------------------------------------------------------
Chandresh

Advice is free – lessons I charge for!!

Quote:

---

Originally posted by chandresh

I was under the impression that OSAP loans are interest free upto the time one finishes his education and only after that the interest starts. My son has taken a loan both in 2005 and 2006 - so does it mean that interest has started accruing? If he pays back the loan say tomorrow - will he still have to pay the interest till date?

Chandresh

---

-----------------------------------------------------------------
Check for pervert's database here http://www.perverted-justice.com

Thanks Charlie.

However, what about the period in between when a student is not enrolled as a student - like the last day of university for my son was late April and then he started his second year in early September - so does interest accrue during these four months?

Chandresh

-----------------------------------------------------------------
Chandresh

Advice is free – lessons I charge for!!

Late rejoinder to the thread Chinese coming up in life in Canada . My interaction with Chinese has been minimal but I was surely impressed with this Chinese Guest House owner @ Finch & Don Mills .

After having a very unpleasent stay @ Uncle Pritams I was quite satisfied at staying at this guy's guest house though I was paying slightly more .The place was clean and the guy very professional unlike the Indian predecessor.

What reallys truck me was that the guy took 4-5 hours in working out a fault in the internet connection to my room .He changed the CPU then the wire and ultimately got it up and working . I would recommend him to anyone (BarryGuesthouse.net).

-----------------------------------------------------------------
Fido.