killabite84

Hi all,
*TL;DR at the bottom*
First post here so a little background info:
I am 22 and i moved to Canada when i was 15 with my parents. In Aug '12 they moved back and i had no savings to speak of and no where to stay so needless to say i joined them on their journey back to the UK. Now that I'm quite tired of being back I would like re-relocate to lovely Alberta.

Here's my issue:
During my stay in Canada i took out 2 (really 1) student loans (1 with the Alberta gov't and 1 with the federal gov't, i say really 1 because i didnt apply for separate loans, but they are different agencies nonetheless). However, i dropped out of college midway through my second semester because i didn't enjoy the subject matter like i expected, and it was really taxing travelling over an hour each way to college 5 days a week, and working wherever possible because they didn't loan as much as i needed in the first place. I know, that's a good thing now right.

So i started repaying this loan around Oct 2011, and stopped repaying around Nov/Dec 2012, when i was unemployed in the UK and the money from selling all my stuff had ran out. Luckily my uncle was able to sort me out a minimum wage job shortly after, but i have never had the 100pnds/month excess (not to mention bank fees) to pay these loans back and i never contacted the loan company. (S*** you do when your young and dumb)

ANYWAYS, I owe somewhere in the region of 6 or $7,000 in loans, oh and a Visa at $1,000 but being I think i can just start putting money straight back on that in small increments.

So I now want to start saving to return to Canada as soon as possible, but my question is, how do I go about dealing with this? I still make barely above minimum wage, so there is literally no way i can pay the loans off while saving to move back. And even if i can get back, i fear the debt would just be crippling for a guy like me, alone in Canada. What if I can't make enough there and I have to run home to Mummy and Daddy with the savings I'm about to try and accumulate completely wasted, and I have to start right back at square 1 for a 3rd time?

Please help me someone Thank you for reading <3

TL;DR I emigrated to Canada but had to move back to UK, I now want to move back to Canada but i owe 6 or $7000 in student loan debts that i haven't made payments on in a year without contacting the gov't agencies. Paying those back make moving back seemingly impossible. What should I do?

AmyDavid

You are going to have to contact the companies and make payment arrangements.

christmasoompa

Just checking, but what visa are you planning on applying for that will cost $1000, and what other costs have you budgeted for? Moving back will cost you a LOT more than just the visa fees, even if you don't ship anything or have any other family/pets to move with you.

What visa were you on whilst you were in Canada 2012, I assume you're not a citizen or PR?

But with regard to your student loans, personally I'd contact them asap and arrange to start paying it back in small instalments. Last thing you want is for it to come back and bite you when/if you move back.

Best of luck.

Siouxie

Hello and welcome to BE!

I would suggest you start by reading this: http://www.canlearn.ca/eng/loans_gra...t/manage.shtml

and then if you can pay off any arrears, you may qualify for this: http://www.canlearn.ca/eng/loans_gra...sistance.shtml

Under the Repayment Assistance Plan (RAP):

You can make affordable payments based on your gross family income and family size. Your loan payments would never exceed 20% of your gross family income.
Your monthly student loan payments will either be reduced, or you will not have to make any payments.
You have a maximum repayment period of 15 years (or 10 years for qualified borrowers with a permanent disability).
Enrolment is not automatic and you would have to re-apply for this plan every 6 months.

Siouxie

He has PR.

"... I emigrated to Canada but had to move back to UK, I now want to move back to Canada... "

christmasoompa

That doesn't mean he had PR though, could have just been a TWP/study permit/etc. Where does he say he had PR? And if he does, then why on earth is he spending $1000 on a visa?!? Enquiring minds would like to know.

Siouxie

He says he emigrated - that would imply PR.

He wouldn't have been able to obtain Student loans unless he was a PR:

".. Student loans, which do have to be repaid after graduation, are available to students who are Canadian citizens, landed immigrants, and protected persons... "

He means Visa Card debt.

MarkG

By 'visa', I presume they mean 'VISA Credit Card' .

killabite84

Indeed haha guess i shoulda clarified.

killabite84

Thank you very much I will have a good read through this

killabite84

Just so we can all move on, I have Permanent Residency valid until March 2017, so if i recall correctly i need to return to the country before Aug of 2014 in order to be able to renew. And if it's after this i believe I'll have to go the citizenship route? It is likely to be after this.

And i have a Visa Credit Card with $1000 on it that i need to pay. I'm not so worried about that because as I said, i can just make incremental payments, and yes it is probably horrific for my credit score. But hey ho.

christmasoompa

I would disagree, as most going over on TWP's also seem to say they're emigrating.

Ah, quite possibly. 'A visa' is a rather odd way of saying it though, but that does make sense now!

christmasoompa

It's not a case of being 'able to renew', but you do have to spend at least 2 years out of every 5 in Canada since you 'landed' as a PR. So it will depend on when you 'landed' as a PR.

And you don't have to go down the citizenship route if you don't want to, although that would make sense if you want to stay permanently.

Good luck.

killabite84

Well I renewed it in Mar 2012. Its my second one. I originally moved in Mar 2007. So i've been there about 6 months on the current one. I thought it was 3 out of the 5. If it's 2 that would really help lol.

christmasoompa

OK, so you landed as a PR in March 2007? In which case, then the time started ticking on your current 5 year cycle in March 2012, so you need to spend 2 years (730 days to be precise) in Canada between then and March 2017. Plenty of time to save up before you go.

It's a shame that you didn't apply for citizenship last year as the clock on that has now reset, but not to worry.