Sunday, October 28, 2007

technorati

Technorati Profile

Assets – There are two types of assets used in student loan assessments: financial assets and vehicles. Financial assets include cash; chequing and savings accounts; Canada/Saskatchewan Saving Bonds; Corporation Bonds; RRSPs; Mutual funds; GICs; T-bills; or any other liquid investments. Vehicles include all private automobiles and recreational vehicles.
Audit – An audit is a way for student loans to check if the information you have given them is correct. You may need to supply income tax returns, T4 slips, bank statements, rent receipts, letters of confirmation (from employers etc.), receipts for tuition, receipts for childcare and/or separation agreements.
Common-Law Relationship – A common-law relationship exists when you live with a person as husband or wife, sharing accommodation, physical and/or emotional love, and domestic inter-dependence for at least 12 consecutive months before the study period start date. However, if dependent children live with you and your partner, the common-law relationship exists immediately. If one person denies that a financial obligation exists, a common-law relationship stills exists if the above criteria are met.

Eloans Definitions


Applicant Status – You are a dependent student if you have never been married or lived in a long-term common law relationship at least 12 consecutive months in length; and you do not have any dependent children; and you have not yet been out of secondary school for four years 48 months or more; and you have not been in the workforce for two periods of 12 consecutive months since leaving secondary school. You are an independent student if you are not currently married or living in a long-term common-law relationship at least 12 consecutive months in length or you are widowed, divorced, or separated; and you do not have any dependent children; and you have been out of secondary school for four years (48 months) or more, or you have been in the workforce for two periods of 12 consecutive months since leaving secondary school.

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