"Student is N*!!*r": Student Debt in Canada Profits the Banks

Referenced URL; http://www.canadastudentdebt.ca

A few minutes ago I just signed the petition at the Student Loan Debt website, and added my personal story.

It ceases to amaze me that the people who harassed my mother and myself throughout the years from 2003 t0 2005 just stopped calling because I told the National Student Loan Centre my contact information and requested they only use that information. As well, the Student Loan Act's clause about violating my privacy is being adhered to, since Google has enough information for them to track me down, including phone number and current address.

Naturally it would be foolish of me to contact them and inform them of my current address and phone number. So, at the current interest rate of 11%, I probably owe them in $1430-1760 in interest, but that is assuming my principal is $16K. It could be less. But if we assume $1440 is the outstanding interest for 2007, that meant $120 a month keeps interest in near-balance.

In actual fact, $1440 would go to pay off one principal (probably the federal part of the loan), while allowing the other principal to grow. So they'd probably service the smaller amount since its interest is smaller than the larger.

However, I just got my semi-annual bank statement recently, and after balancing out my MoE&IA payments, my annual taxable income is under $6000. This income cap satisfies the $500 a month cap that the Income Assistance act stipulates for persons with disabilities, and works against repayment of my loan.

Why? Because on average, I make less than $500 a month - it is closer to $200-300 a month. As well, I am uncertain if I could cope with working 160 hours a month. Sadly, because the government likes employers with full-time employees and penalizes employees with part-time staff (despite the fact that the latter employers pay less taxes), no company wants a part-time employee.

Besides, I like being security for an employer that caters to the entertainment industry. People who wonder why should search for my En Karma dance video.

However, Jerry Farber is right: "the student as nigger" is reflected in student loan policies and MPAA/RIAA as two ways that their oppression is assured.