Assignment 2 by Naquesa Ryeeza

Question #1

madam_pires — 2024-03-30 22:27:31 UTC

During my research i think the most surprising thing I've learnt was the amount of money you spend on interest rates while trying to pay your student debt off. In some cases the interest charges was almost the same amount of tuition or more.

Welcome

madam_pires — 2024-03-30 22:39:37 UTC

Hello everyone, the topic i have decided to choose is Student Loan Debt. I think its a perfect topic since we are all currently in school and some of us may be experiencing some student loan debt of our own already. In this wall you will be viewing all the resources i have researched on student loan debt and hopefully my information is informative and helpful.

Video #1

madam_pires — 2024-03-30 23:04:23 UTC

This video is very insightful and gives you lots of resources, solutions and tips on how to pay off your student loans. Dr Steph explains very clearly on the different types of loans and fixed rates offered here in Ontario and other providences as well. She includes a breakdown of ways too start paying off your debts, includes a calculator on how to calculate your debt and also explains in depth the time frame you have to repay your loan and also explains that there is another option to extend your loan but you will have to pay more interest overtime.

I choose this video because Dr Steph is very transparent and uses her own experiences and debt she has had in the past to pay off her student loan after she had graduated from medical school in 2018. the interesting thing about this video is that they have very useful resources that's linked that everyone can use to assist in debt repayment in the future. For example, the Canada loan forgiveness for family, doctors and nurses program.

Video #2

madam_pires — 2024-03-31 00:30:39 UTC

This video is educating people on how to use all of the resources available to you to help you stay out of student debt. The speaker talks about the negative impact on students lives surrounding student loans and repayments and how exactly student loans impact your lives. She states facts on the amount of student debt is in Canada today and gives valuable information on how to educate yourselves on resources such as scholarships.

I choose this video because it gave a different perspective on student loans and also spoke about line of credit which was stated by the speaker should be a last resort after you have did research on other resources such as finding out if you are eligible for a scholarship.

Video #3

madam_pires — 2024-03-31 02:19:21 UTC

This student loan debt video is talking about keeping track of your student loans and knowing how to manage all the money that is being given to you. The video gives you insight on the loans and actually tells viewers that you do not have to take all the money being given to you from the government. Take what you need that way it will prevent you from being into further debt.

I choose this video because its an eyeopener basically, a lot of people like myself think that the best of the best universities or colleges is what employers look at in order to hire you, but in actual fact you can go too a university or college that is not as well known and still get the job you desire because all the schools in Canada basically follow the same curriculum. You can take your time and choose somewhere that is right for you and your budget.

Video #4

madam_pires — 2024-03-31 02:56:17 UTC

This video is basically explaining how a lot of student do not fully understand the costs associated with college and the fact that every new career change you want is additional money on top of what you already owe. Student debt adds up quickly and students need to take into consideration the down time after they graduate. Many jobs require experience and its hard to have experience in the field you just graduated from which adds to a longer time to pay off debt.

i choose this video because it talks about all the struggles students have to go through trying to go to school, work and have a family to take care of. It also talks about female students and how they are affected especially after they decide to start a family of their own. Automatically its harder to pay back student loans when half of your income has to go towards supporting your family.

Website #1

madam_pires — 2024-03-31 03:08:22 UTC

Grant me is a website where students can register for free and gain access too an online program that allows students to ask real questions and get real answers. Grant me helps students understand loans, helps students get into the right schools and programs for them and it also assists with funding for different universities and colleges. Grant me guides students and help them get all the information they need in order to be successful and ensure they are aware of certain grants and scholarships so they can ultimately be in less debt. This is a great education platform for students that are unaware of certain grants that can help them in their future studies.

Website #2

madam_pires — 2024-03-31 03:23:49 UTC

The Canada student loan forgiveness website is to help students or new graduates repay their loan. This website is only for certain eligible medical professionals such as nurses, doctors, licensed practical nurses etc. None the less its still a great website that offers assistance to professionals that can not afford to pay off their student debt. College and Universities are expensive in general but these professions are especially high and usually carry a high tuition fee which is not including books, uniforms, etc.

Website #3

madam_pires — 2024-03-31 03:32:50 UTC

This website helps assist people with budgeting. Having a plan and budgeting and keeping track of everything really helps you plan for the future and stay on track. This is a great tool to use not only to make a plan to repay your student debt but to also budget and save some money as well for other things as well. Keeping track of your spending, not buying items you may not need or you can live without will really help you get on the right track to pay your student loans off faster to save on the interest that acclimates over time.

Website #4

madam_pires — 2024-03-31 03:43:57 UTC

This website is good for students to plan their future, they can use this calculator to average how much money they are eligible for from the government to help plan for their studies ahead. This website can show you an estimate amount so you will be able to know how much money will be allotted to studies, books, transportation and rent. With the budget planner i have attached as well you can use the two together to properly budget and take the funds you need to succeed instead of taking all the money that's being given to you which can ultimately put you into further debt.

Image #1

madam_pires — 2024-03-31 03:53:24 UTC

This image is a survey from 2009-2010 which shows on average the amount of new graduates that are in debt and the different types of debt. Sadly fast forward too 2024 and I'm sure the numbers are higher, with the higher interest rates and the cost for tuition increasing significantly.

Image #2

madam_pires — 2024-03-31 04:01:06 UTC

This image states the total student loan debt was in the billions, do you know how many students that is struggling to pay off debt just because they wanted to further their education and get a better job to be able to provide for their families. And how many people are struggling to repay this student debt.

Question #2

madam_pires — 2024-03-31 15:02:23 UTC

This topic is relevant for me because i will be in so much student debt once i graduate, so learning the repayment process and how to manage your money with making payments every month and having to pay other bills such as rent will be difficult but with the budgeting tips I've learnt about during my research will definitely help me in the future.

Question #3

madam_pires — 2024-03-31 15:34:14 UTC

The most important thing i would share with someone is ensuring they do their research first. Ensure you are using all your resources, and pick the school that is best for you and your budget.