“A 45 year old receptionist at the Cape Breton Regional Hospital who attended a secretarial school for years has just paid off her student loan 2 years ago. That’s approximately 24 years of paying off this loan. Also, because she owed this money she was unable to buy a house, she was also called weekly at both work and home by creditors urging her to pay the remaining balance of her loan.”(Marilyn King).

Stories like this are not uncommon among people who have needed to obtain student loans. “Within the 96-97 school years Nova Scotia had 9,996 people who took out loans from the Canadian Student Loans Program. This number steadily increased to 11,336 in the 00-01 school year.”(CSLP Statistic).

To receive a student loan there are many requirements. “In most cases you must be taking 60% of a full course load.”(NS Student Assistance). Also, you must be a Canadian Citizen or Landed Immigrant, and your program must be offered through an approved institution and be at least

entire cost of your education and living expenses (Beverley Patterson)." For those people

Coming out of university or college with a high debt rate can effect the rest of your life. When someone graduates from university or college they are usually going to attempt to start their life, paying off this loan will make this very hard.

Interest rates are based on a monthly amount of how much credit has been used, basically

little as you need. With any ordinary loan, money is paid up front and gains interest

Some topics in this essay:
Fortunately Royal, Credit Union, Union Royal, Gouthro Normally, Student Loan, Loan Program, Beverley Patterson, Amount Paid, Student Loans, Centre UCCB, student loan, student loans, credit line, credit union, nova scotia, loan program, university college, student loan program, loan student, scotia student, canada student loan, canada student, scotia student loan, nova scotia student, obtain student loans,