If they can't forgive me my decision to pursue postgraduate education in the humanities...

May 26, 2011 2:48 PM

Are BC and/or Canada Student Loans ever forgiven?

My wife and I are trying to sort out our finances going forward. I am just about to finish my Ph.D. in English. I have some old BC and Federal Student loans (both in good standing; the BC loan is already in repayment) and I've heard that some people have had them forgiven, though most of the people who have mentioned it were referring to OSAP. I've been looking online and all I have found is that people in certain healthcare fields can apply to have part of their BC loans forgiven.

Obviously we're not counting on this, but it would be nice to know if there's some chance of this happening. or if there is anything I can do to apply, check my eligibility, or expedite the process.

[Anonymous because it's a debt question that I'd prefer not to be attached to my username.]

posted by anonymous to Work & Money (2 answers total)

There might be a chance that the provincial government will provide some compensation/loan relief but not the federal, but there are flexible payment options like deferral and such. A large chunk of tax credit will be coming back your way if you didn't claim it during your schooling which can provide a bit of a buffer.
posted by Khazk at 3:40 PM on May 26, 2011

AFAIK, this doesn't happen anymore in BC.
posted by acoutu at 10:16 PM on May 26, 2011