300K Student Loan

July 14th, 2005 by Questions

By the time I have completed my education, I will be in debt over $300,000 Cdn. I will begin making approximately 60K a year upon graduation. Would I be justified in filing for bankruptcy at that time?

Questions

One Response to “300K Student Loan”



July 14, 2005 at 3:10 pm, A licensed trustee said:

Unfortunately, student loans cannot be discharged (eliminated) by bankruptcy in Canada unless you have been out of school for 10 years or more.

I suggest to have a look at the student loan blog for more specific information on your options.

Given the income you expect to make, you should be prepared to start making payments towards your student debt within 6 months of graduation.

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