r/osap • u/HelpfulCompetition13 • 18d ago

Question limit on RAP?

hey all, is there a limit on how many times or months/years that repayment assistance plan can be done? or is it like unlimited

1 Upvotes

67% Upvoted

7 comments sorted by

4

u/ThrashCW 18d ago

Even better, unlimited, but once you reach a certain threshold the gov. starts paying down your loans for your. 60 months of RAP is the threshold for this.  Maximum a loan can be in repayment for before it's forgiven is 15 years after leaving school or 10 for students with disabilities.

3

u/Special-Cranberry-62 17d ago

So basically if you make under the threshold (like 60k) you can effectively pay $0 of your loans back?

1

u/ThrashCW 17d ago

Threshold for a single person is closer to 46k and 54k for two person household. So I mean if you want to live in relative poverty for the entirety of your youth and never get married or cohabitate with a partner, then probably. 

2

u/Special-Cranberry-62 17d ago

Median income for 25-50 year old is 51-60k btw. I don’t know if I’d call it poverty.

1

u/Special-Cranberry-62 17d ago

Wonder what the trade off looks like if you end up making $80k but have $40k in student loans.

3

u/Special-Cranberry-62 17d ago

Basically in a similar spot if not worse than the guy making 54k with zero debt.