ItIsWhatItIs
Banned
Appears your parents put themselves first . The best you do is live at home and and eat their food at no cost. Your summer employment should easily cover tuition and books.
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Students owning bikes & Osap
- Thread starter ScorpioCBR16
- Start date
Appears your parents put themselves first . The best you do is live at home and and eat their food at no cost. Your summer employment should easily cover tuition and books.
The more $ you make, the more $ you spend, generally.
Should expand to "the more random **** you spend $ on".
Right, cause OSAP is free money. The interest students have to pay after school is prime + ~3% so it's not really your tax dollars, it's his money he has to pay up in a few years.
Who do you think pays the interest on $40k for 4 years? The taxpayer. Who do you think pays off the loan if he turns deadbeat? The taxpayer. Don't tell me it only concerns him.
While I applaud your friend for being enterprising, why should taxpayers pay the interest on his loan so that he can turn around and make money on it? (instead of using it for its intended purpose). I agree that should be able to be used for things like rent and food, but there has to be some semblance of being related to getting an education.
It seems a lot of people are confused about the interest-only part. It's a regular loan like any other loan (and provided by a bank), and it's only interest-free for the student (the taxpayer pays the interest on the loan while the student is attending school, and guarantees the loan in case the student defaults on it). So in your friend's case, the taxpayer is paying the interest (so that your friend can supposedly get an education), and he's turning around and making money off the back of the taxpayer. While this is not illegal, I think OSAP should be tightened so that people who need the money can get it, and those who don't, well, don't.
I don't know what fantasy world you live in, but if you're making minimum wage (which I suspect most students do, or close to it) it doesn't even come close. At $10.25/hour, 37.5 hours per week for 12 weeks, you'd make $4612.50 *gross* (doesn't include deductions for tax, CPP, EI, and any benefits). The least expensive undergraduate program at Ryerson is $6,398, and obviously doesn't include books, student fees, supplies, etc. And that's assuming you can find work (and not every student is able to, for a variety of reasons).
Edit: Accidentally used 12 weeks instead of 16 weeks (4 months). At 16 weeks, works out to $6150 before deductions. Argument still completely valid.
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When I went to school minimum wage was $6.85.. I believe... you young'ins have it so easy these days
Yup, same here. Although I worked at Staples at the time and made a little better than minimum wage but didn't although didn't work anywhere near 37.5 hours.
I worked at Timmies, and got a little more as well, due to a)Night Shift and b)Supervisor premium. I worked 40 hours a week though 11-7am, home to shower, school from 8am - 6pm, home, sleep for 3 hours and repeat :sad1:
I'd die if I tried that again, I think,
I'd die if I tried that again, I think,
OSAP is like an investment the government makes, it's like a bank loaning money to customers, in the end the bank wins. How else do you suppose people should pay for post-secondary education?
With the ridiculous high tuition feels the government is already making mad millions if not billions, so yeah what he gets from OSAP only concerns him! What he'll be paying back in a few years will be a lot more than what the government originally gave him.
This is a great education system in North America, jack up the education fees every year so no one can afford it, and provide loans to people who have nothing and make them pay a high interest mortgage right after they graduate. Yeah, the taxpayer is losing a lot of money in this
With the ridiculous high tuition feels the government is already making mad millions if not billions, so yeah what he gets from OSAP only concerns him! What he'll be paying back in a few years will be a lot more than what the government originally gave him.
This is a great education system in North America, jack up the education fees every year so no one can afford it, and provide loans to people who have nothing and make them pay a high interest mortgage right after they graduate. Yeah, the taxpayer is losing a lot of money in this
I agree that OSAP is an investment in our future economy. However the government does not make money on tuition, it operates at a complete loss. Engineering and Science Professors make over $100/hr.
OSAP is like an investment the government makes, it's like a bank loaning money to customers, in the end the bank wins. How else do you suppose people should pay for post-secondary education?
With the ridiculous high tuition feels the government is already making mad millions if not billions, so yeah what he gets from OSAP only concerns him! What he'll be paying back in a few years will be a lot more than what the government originally gave him.
This is a great education system in North America, jack up the education fees every year so no one can afford it, and provide loans to people who have nothing and make them pay a high interest mortgage right after they graduate. Yeah, the taxpayer is losing a lot of money in this
You realize that the government already subsidizes all student's education right? Like that 6 grand you pay per year is actually more like 30 grand, the government already covers a crazy amount.
An idea I heard on the radio was give free education to anyone who wants it, after they graduate they pay a % of their wage back to the government for X number of years. I'd do that.
If they're "smart" enough to get accepted into university they should be "smart" enough to get a better paying job... unless of course they don't like hard work.
How about working for a landscape company? $15/hr base plus OT for 60 hours a week? I spent a few summers building fences, bought my own tools and used my Ranger as a work truck, and cleared about $800-$1000/wk
You already did do that.. highschool?
Huh? Not sure what you mean? I was talking about college/university..
Think about it, makes perfect sense, say class of 100, you have say 6 professors each year, each making 100k, that's 600k in salary. 100 students at 6 grand a pop = 600k, quite obvious that the government subsidizes it.
EDIT: NVM, I see what you mean, they paid for my HS, and now I'm paying it back in taxes...
5:30am.. my brain goes into sleep mode around 2am
That's pretty arrogant. Most students have few marketable skills straight out of highschool, may not have any job experience at all, and especially in this economy, jobs can be scarce.
Also, not everyone lives in Toronto where they have a large job pool to take a crack at. There's not an unlimited number of landscaping jobs out there. Most employers pay little more than minimum wage for unskilled labour. That's just the reality of having a larger pool of jobseekers than jobs.
I've worked at companies large and small, and while I haven't made minimum wage since I was in high school, while I was a student it was usually only a couple dollars more.
Now that I have an education, I make a six figure salary, have good job security and i have options when I'm looking for employment. But I guess I'm stupid or lazy because I wasn't making $15/hour while in school. Get over yourself.
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It isn't the interest free part that people are interested in, at least the smart ones, it's the fact that nearly half of your OSAP is paid for and you only owe half back. For example: I get 13,100 a year. 5000-7000 of that are grants. I only owe 40-60% back. If your parents are nice enough to pay for your school and you have been out of high school for 4 or more years, you WILL get 13,100 provided your net income (that you don't get in cash....lol) is lower than 15,000. What does this mean? You invest your OSAP, 4 years later you liquidate your investments, throw the **** you owe osap, and have more money than you did when you started!...to buy a motorcycle. Best of all, none of this is illegal or abusive. You pay taxes, you're entitled to ****.
I'm too lazy to look up the statistics, but if I get any retarded replies I will..(in a few days lol). When min wage was 6.85, living expenses (specifically housing market) and tuition fees are far less in comparison. Further truth to this can be seen by the ratio difference between back then and now. Someone else already wrote a post on this, and then I added to it in another thread. Go look it up if you want info but TL;DR: YOU HAD IT MUCH EASIER THAN US.When I went to school minimum wage was $6.85.. I believe... you young'ins have it so easy these days
Oh and caboose, not trying to insult you, but you're giving some piss poor bad advice. Landscaping usually results in injury and makes no where near 16/h. I could go on but I'm far too lazy but trust me I know better than the average person on wise decisions during school because I ****ed up my first try. Second try is going a hell of a a lot better and I didn't need any jobs that were unrelated to my field.
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油井緋色;1835370 said:
Those are some pretty big IFs. When I went to school, I did not qualify for the maximum amount of OSAP, and I had to pay back every penny I owed. I suspect more people are closer to my scenario than yours, although I freely admit I don't know for sure.
I also said there was nothing illegal about your scheme, although it probably should be. There's a finite pool of funds from which OSAP draws from, so if the people who don't need it would stop drawing from it, the rules could be adjusted so that the ones who really do need it can get it.
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There's nothing to get over and it's not arrogant. It's simple observation.
Landscaping grunts make decent money because so few young people are actually willing to work hard. I never lived in Toronto either, however as populations continue to increase there will always be demand for more landscapers, more deck and fence builders, more framers and brick layers, more general construction workers. I'm not suggesting that a student could be a competent brick layer or framer but many of these crews could make good use of a grunt. Someone to lug bricks around, mix mortar, carry lumber, go get coffee, etc. Marketable skills?? All that's needed to get a job like that is a willingness to show up every day, work the hours, and perhaps at minimum a dim 30 watt bulb flickering between your ears. Unfortunately it has become harder and harder to find younger people that meet that criteria.
For your reading enjoyment.
http://www2.macleans.ca/2011/08/25/why-your-teenager-cant-use-a-hammer/
That's why most students can't do better than minimum wage.
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