Assignment 2 - Student Loan Debt by Sarangan Chandrakumar https://padlet.com/saranganchan/no9l0850pwakk6cw Sarangan Chandrakumar en-us 2023-04-03 18:38:46 UTC 2023-04-05 03:08:27 UTC hello@padlet.com Welcome to my padlet. saranganchan https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2542645506 In this padlet you will learn about student loan debt. And how it's effecting their life. I think student loans should be canceled because it's the first highest long term investment young adult makes. I have shared some information that I found helpful for me to learn somethings that I never new about student debt. I hope you will find it help full as well. ]]> 2023-04-03 18:55:44 UTC https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2542645506 Students Loan Debt VS Graduate saranganchan https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2542955223  As you can see image above is showing a plot chart diagram on graduate student vs student debt loan. This is study that’s been found by government of Canada. Showing that in the future less students going to be graduating but the student loan debt is going in billions of dollars. ]]> 2023-04-04 01:13:48 UTC https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2542955223 Apply for grants rather then loan saranganchan https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2542993278 This website you will see that something better choose then student loan. Since student loans it’s a long term investment. Where you’re not sure you will make the money in the career. But to save your money you can apply for grants. Which you don’t have to pay back to the government. You can apply only for grants. And your that money thawed your education.

One think I have notice in this website is that for low income family the government helps a lot. With grants. So I think it’s better to for your research properly before applying to loan. 

]]> 2023-04-04 01:42:48 UTC https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2542993278 Graduation by type of debt and level of studies saranganchan https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2542995751  As you can see on the image above is showing a graph chat on level of study on graduation of average student dept. This graph shows as minimum of $10000 of debt a college student will graduate. As to different level of studies the loan debt goes high. 

]]> 2023-04-04 01:45:06 UTC https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2542995751 Example of how student end u[ in debt. saranganchan https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2543067479 This news article is an example of how a student ends up in debt. This is a story of a Alexandra Fox who started with boring loan of ten thousand dollars for her rental and food. But after changing her career plan to study Master of interdisciplinary. And the study cost her third thousand dollars . After  that she did Master of Occupational Therapy. Which cost her third two thousand dollars and she also got extra money for her use. At the end she got into debt after debt which is $105000. To pay of her loan it would take more than 10 years unless if she moved to USA where she would be making better money. But to some woman if would take longer according to Mr. Doug Hoyes who studies about student debt. His theory saying that, since for a woman to pay off their student loan it’s going to be longer then man since if a woman decide to have a child her 50% of her money will go into her child. 

]]> 2023-04-04 02:44:12 UTC https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2543067479 Calculator saranganchan https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2543186126 This website is a loan calculator. Where you can able to calculate how much interest rate you will be paying off. 

I choices this website since I think it is really import that you need to know where is your money going. How you can save it. The lesser interest you pay more money you will save. As example I have put in how much money I own. Which is$2300 when I graduate. With the interest rate  I would be owning  $30641.11 to the government. I would be paying off $7641.11 for interest. This loan calculation I put it for 10 years after I graduate. I think it’s good to pay off loan sooner than later. 

]]> 2023-04-04 04:36:52 UTC https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2543186126 What is a student loan? saranganchan https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2543203204 This video will talk about how does loan works. How interest rate work and how you can save money. What are the government program to get loan debated if you’re doing job related to doctor or nurse. It’s also explain which loan to pay of first and whether you should use line of cried or not. 

I have picked this video because it’s explain in all kind of poit of view on how you should pay off the loan. Pulse I feel it’s some giving  their real life experience as well which will made me understand a little bit more inept with the student loan. 

]]> 2023-04-04 04:54:38 UTC https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2543203204 Student Loan debt forgiveness saranganchan https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2543231690 This video will talk about how loan forgiveness work. The loan forgiveness is about how government wills write off your loan. Which is you’re doing bank craped. That can only work after 7 years of your graduation. That means its start from the last day of your final exam or your final class. But if you desired to attend back to school again the time of 7 years will reset. Also, just remember that there are 7 rolls before you apply for loan forgiveness. I hope you review the video and lean bit more about it. 

I have chosen this video because I never knew you can do bank craped on student loans. Also, who I should talk to before doing bank craped. Which is taking to your accountant or a licensed insolvency trustee will help you make the right choice. 

]]> 2023-04-04 05:20:24 UTC https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2543231690 How does student loan works? saranganchan https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2543910499 This video will talk about how does student loans works. As to start off as a student you can brow money from difference  incursion. Such as federal student loan and private loan. As you may know federal is borrowing money from the government. Which will come with less interest rate. But if you have desired to go with private just remember that you would be paying off more money out of your pocket. 
 
 I have chosen this video because this is the first video I have watched to learn about what is a student loan and how it’s work. When I applied for collage right after high school. I think this video will help to understand which incursion. 

]]> 2023-04-04 16:33:04 UTC https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2543910499 Is the system in Canada treated fairly for student loans? saranganchan https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2543975846 This is website will talk about if the student in Canada treated fairly with the student loans. As in many student struggle to pay off their student loans since they study different level of study. Which will cost them more money. But after graduating from school most of the students don’t make enough money to pay off their bill, loans. As now days due to infusion the cost of living is becoming more and more expansive.

I think as a student we are not treated fairly with our student dept. Since most of the students aren’t getting into the jobs that they studied for. Most of the employers are paying less money. This making the student to straggles throw their life and delaying there life plans. 

]]> 2023-04-04 17:33:44 UTC https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2543975846 Something you need to know before you spent out your loan. saranganchan https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2544435458 This video talks about student spending out of their needs. As in we choose to study in better school thinking that they will teach us better. But one thing we aren’t looking at is the best university or collage charge more money to their student. Just like branded cloths are more expansive. But at the end of the day they are just normal cloths. Also, it talk about how loan system work. Most of the student don’t know how the government planed out the loan system. If you get loan you’re going to be in debt for 9.5years. Which is quit long time.

I found this video helpful because I think it’s explain how education it’s like a investment. If you don’t choose the correct education. You won’t pay off your bills at the end of the day. 

]]> 2023-04-05 02:27:02 UTC https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2544435458 saranganchan https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2544453264 Thank you for reading my padlet I hope you learned something. ]]> 2023-04-05 02:43:14 UTC https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2544453264 saranganchan https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2544479783 1.       What did you learn about your topic that surprised you the most?

I learned that there are many student with lots of debt. Like in Canada its around $22.3 billion in July 2020. But now it would be even more. 

2.       Provide a real-life example of how this topic is relevant or interesting for you?

This topic is relevant to my real life because I am a student that’s got  money from the government. Where I think of l my life finding jobs in my field with high paying jobs will be less. Since there’s no dement for technology jobs in Canada with higher pay. But If I decide to move to USA I can make more money than here and pay off my loan faster.  

3.        If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on?

I think one advice that I would give to my family or friends is that. Don’t waste your money while you’re in school. And try to apply for grants and scholarships for your school. And work during summer and make money and you that towards school. 

]]> 2023-04-05 03:08:27 UTC https://padlet.com/saranganchan/no9l0850pwakk6cw/wish/2544479783