https://padlet.com/lukascholette/q6oxyphczrol By Taris Wilson and Lukas Cholette en-us 2016-11-24 01:09:25 UTC 2025-12-07 19:36:09 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Folder.png lukascholette https://padlet.com/lukascholette/q6oxyphczrol/wish/139682256 As we go through life, we may find ourselves low on money this is where borrowing money comes into play. Borrowing money is not a bad thing as long as we pay back our loans at its deadlines and not pay the bare minimum. Since taking a loan will be part of our life at some point, it is important to understand all the affects that come with it. In this assignment we will be talking about the positive and negative affects of student loans.]]> 2016-11-24 01:46:26 UTC https://padlet.com/lukascholette/q6oxyphczrol/wish/139682256 lukascholette https://padlet.com/lukascholette/q6oxyphczrol/wish/139975997 2016-11-26 16:39:18 UTC https://padlet.com/lukascholette/q6oxyphczrol/wish/139975997 lukascholette https://padlet.com/lukascholette/q6oxyphczrol/wish/139976202 2016-11-26 16:44:04 UTC https://padlet.com/lukascholette/q6oxyphczrol/wish/139976202 lukascholette https://padlet.com/lukascholette/q6oxyphczrol/wish/139976317 In this photos you see the 20-30 year old student trying to move back into his parents house, because of the debt they acquired from the loans for school.]]> 2016-11-26 16:46:26 UTC https://padlet.com/lukascholette/q6oxyphczrol/wish/139976317 lukascholette https://padlet.com/lukascholette/q6oxyphczrol/wish/139976532 In most cases its the parent that pays for the students schooling, but in most cases get a job in today's generation can be a real struggle. ]]> 2016-11-26 16:51:22 UTC https://padlet.com/lukascholette/q6oxyphczrol/wish/139976532 lukascholette https://padlet.com/lukascholette/q6oxyphczrol/wish/139976886 2016-11-26 16:58:16 UTC https://padlet.com/lukascholette/q6oxyphczrol/wish/139976886 lukascholette https://padlet.com/lukascholette/q6oxyphczrol/wish/139976957 Loans aren't a bad thing as long as you pay back what you owe. Loans are great especially when you need a helping hand when buying a home, car, any type of property and school.]]> 2016-11-26 16:59:36 UTC https://padlet.com/lukascholette/q6oxyphczrol/wish/139976957 lukascholette https://padlet.com/lukascholette/q6oxyphczrol/wish/140066765 2016-11-28 00:57:45 UTC https://padlet.com/lukascholette/q6oxyphczrol/wish/140066765 lukascholette https://padlet.com/lukascholette/q6oxyphczrol/wish/140067247 This video explains how loans, taxes, unemployment rates and certain products can overall as a whole put Canadian economy into a deficit. This video also describes inflation and deflation to a country and how it actually works over time. This video also explains how hard it is to pay for houses, paying off your mortgage compared to what Canadians get paid at a weekly salary. Overall this video shows many great facts on our topic and goes a little in depth on the negative side of the Canadian economy.

]]> 2016-11-28 01:03:15 UTC https://padlet.com/lukascholette/q6oxyphczrol/wish/140067247 lukascholette https://padlet.com/lukascholette/q6oxyphczrol/wish/140325912 https://www.thebalance.com/loans-and-credit-score-960031

In this website it talks about how loans can lower your credit score. The simple process of applying for a loan itself will lower your credit score, but if you're looking for a mortgage or auto loan there is grace period where multiple loans don't affect your score (they are taken as one application instead of multiple). Furthermore timely loan payment raise your credit score, it shows that you can be trusted with your money. This  because %35 of your credit score is payment your history. the website goes on to say that the bigger the gap between the initial loan amount and the current loan, the better the credit score.]]> 2016-11-28 20:07:24 UTC https://padlet.com/lukascholette/q6oxyphczrol/wish/140325912 lukascholette https://padlet.com/lukascholette/q6oxyphczrol/wish/140333513 2016-11-28 20:31:48 UTC https://padlet.com/lukascholette/q6oxyphczrol/wish/140333513 lukascholette https://padlet.com/lukascholette/q6oxyphczrol/wish/140333684 This video briefly shows you the understanding of how consumer debt is actually happening over time. his video explains the competition of banks as loan growth is slowing by lowering their profit margin or per say interest rates to appeal to consumers who are in debt. Revenue in banks are also slowing because of loans and consumer debt. the second half of this video goes more into detail relating to things non related to our topic but do provide great facts about banking ratios, regulations and how they work as well.]]> 2016-11-28 20:32:28 UTC https://padlet.com/lukascholette/q6oxyphczrol/wish/140333684 lukascholette https://padlet.com/lukascholette/q6oxyphczrol/wish/140340812 This video explains how household debt and consumer credit is a concern, the economy cant withstand a rise on interest rates. this video also talks about mortgage rates at about 3% which has been very low compared to what it used to be. A lot of factors go into just not getting a mortgage, the bank will try and sell you insurance, give you a credit card, any different stream of income so the banks can earn a profit off of consumers. Canada is trying to lower the time span of household debt to lower than 25 years of a consumers life paying off a mortgage. This video shows the former prime minister speaking about consumer debt and how Canada as a whole can be improved.

]]> 2016-11-28 21:00:26 UTC https://padlet.com/lukascholette/q6oxyphczrol/wish/140340812 lukascholette https://padlet.com/lukascholette/q6oxyphczrol/wish/140340819 http://www.cbc.ca/dragonsden/blog/how-interest-rates-affect-small-businesses-in-canada

In this website it talks about how the change in rates affect small businesses because they have fewer sources of cash and harder times getting money. Manufacturers, construction companies and any businesses that  hold a large amount of inventory feel the impact of interest changes the most because these businesses rely on upfront cost that cant be compensated . This website also mentions that if the interest rate in the US rises the interest rate in Canada will fall, that is bad new for company's in Canada that import from the US.]]> 2016-11-28 21:00:28 UTC https://padlet.com/lukascholette/q6oxyphczrol/wish/140340819 lukascholette https://padlet.com/lukascholette/q6oxyphczrol/wish/140341058 2016-11-28 21:01:43 UTC https://padlet.com/lukascholette/q6oxyphczrol/wish/140341058 lukascholette https://padlet.com/lukascholette/q6oxyphczrol/wish/140345311 1. What we have learned that surprised us the most would have to be the fact that a loan that you receive from a bank does not particularly just affect you and that bank, many others are affected by loans especially with rates of interests. Taxpayers, student loans, mortgages and many others all contribute to the Canadian economy and how it rises or lowers. ]]> 2016-11-28 21:18:24 UTC https://padlet.com/lukascholette/q6oxyphczrol/wish/140345311 lukascholette https://padlet.com/lukascholette/q6oxyphczrol/wish/140346309 2. A real life example of how this topic is relevant to us is simple because we are going through it as we speak. As a student we are already getting loans to pay for school, we are already going into debt, and soon enough we will have to pay for a house, get a mortgage and try and pay that off as soon as we can. So yes, there is a lot of relevance into this topic because it happens to several Canadians non stop every single day.]]> 2016-11-28 21:23:09 UTC https://padlet.com/lukascholette/q6oxyphczrol/wish/140346309 lukascholette https://padlet.com/lukascholette/q6oxyphczrol/wish/140347304 3. The research we found most interesting was definitely the videos, visually captivating something or watching and hearing someone speak definitely provided us the better learning experience and gave us a better understanding of this topic. We seen and heard interesting things from people like our former Prime Minister Steven Harper, and many other interesting people.]]> 2016-11-28 21:27:56 UTC https://padlet.com/lukascholette/q6oxyphczrol/wish/140347304 lukascholette https://padlet.com/lukascholette/q6oxyphczrol/wish/140348728 http://www.economicshelp.org/macroeconomics/monetary-policy/effect-raising-interest-rates/

In this website it shows several points on how interest rates can effect us. Such as the increase of cost of borrowing money, increase in mortgage interest payments, increase of interest rates can raise the dollar, increased incentive to save rather than spend, the rises in interest affect both consumer and businesses/firms, government debt interest payments increased, and lower confidence !!! To sum it up this website simply states that higher interest rates will reduce consumer spending and investment.]]> 2016-11-28 21:35:53 UTC https://padlet.com/lukascholette/q6oxyphczrol/wish/140348728