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Dropped out of University and cannot afford to payback student loan.
Does this sound like you?
After two years in post secondary education, Peter Mason feels that he can no longer continue due to inadequate grades. He has been living off of student loans while in school but now can’t afford to pay back the loans with his minimum wage job. What should he do?
What can you do?
With a minimum wage job it will not be easy to make even a dent in your student loan debt. You can attempt to cut back on monthly expenses to save up some extra cash, but if that is too difficult, you may have to research other options. Some popular alternatives include consumer proposals and bankruptcy. Depending on your situation, you may wish to pay off the debt gradually, or rid yourself of it as fast as possible. Bankruptcy is one of the fastest ways to get back on track financially, but it should be considered the last resort. To explore your options further, click here.
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