Student Loans

[July09Bride 1]

My fiance still has some student loans. What happens when he comes over here to the US? Can he keep paying on them as long as maintains his Canadian bank accounts or will he need to pay them off asap??

[minnew 4]

My fiance still has some student loans. What happens when he comes over here to the US? Can he keep paying on them as long as maintains his Canadian bank accounts or will he need to pay them off asap??

I don't have personal experience on that one, but from what I am told you can still pay them off while in the U.S. I have student loans as well, and car loan payments through GMAC and I hope as long as I keep my canadian bank account I will be okay. I will definitely be looking into using customhouse that many other members have mentioned and used to transfer money back and forth between U.S and Canadian accounts.

[Carlawarla 1]

My fiance still has some student loans. What happens when he comes over here to the US? Can he keep paying on them as long as maintains his Canadian bank accounts or will he need to pay them off asap??

Sure he can continue paying them off while in the US. Make sure he keeps open a Canadian bank account. He perhaps has monies automatically coming out of that account? If you have the money, I'd pay them off though. It would be nice for him to come down and not have to worry about those loans anymore.

[SapphireDreams 71]

I plan to just keep paying mine off using a Canadian bank account. Mine just come out automatically online so I don't really have to worry about them. Just have to transfer money over to cover them every so often.

[JillA 2]

I 100% recommend Customhouse! It's amazing and free!! Great exchange rates, I use them to transfer $$ every few weeks to my US account! Everyone should sign up who needs to transfer $$!!

[July09Bride 1]

I 100% recommend Customhouse! It's amazing and free!! Great exchange rates, I use them to transfer $$ every few weeks to my US account! Everyone should sign up who needs to transfer $$!!

Sounds good! I'll suggest that he use Customhouse. Is there a thread somewhere about it or a website?

Thanks!!!

[JillA 2]

I 100% recommend Customhouse! It's amazing and free!! Great exchange rates, I use them to transfer $$ every few weeks to my US account! Everyone should sign up who needs to transfer $$!!

Sounds good! I'll suggest that he use Customhouse. Is there a thread somewhere about it or a website?

Thanks!!!

http://www.customhouse.com/

You can sign up online, they will call you to verify info... you have to fax some ID over, it takes a bit just because it's $$ and they want to prevent money laundering and such.... but once you get all set up, it's a breeze! It's free and they have great rates, better than most banks. It does take about 5 days to get from account to account though, so you can't be in a hurry for the $$. But if your fiancee is going to be getting EI, it's a good way to transfer it over.

[Sprailenes 47]

I just keep paying them off through my CIBC account. Not a big hassle.

[Tankgurl38 0]

There are two threads permanently locked at the top of the Canada forum.

The first one is about collecting EI when you get down to the US and the second one is all about Customhouse.

Edited March 13, 2009 by Tankgurl38

[amberL 0]

There are two threads permanently locked at the top of the Canada forum.

The first one is about collecting EI when you get down to the US and the second one is all about Customhouse.

i have looked into this one personbally, he can send a money order as long as he gets it from the us post office and mails it monthly to the student loan service center.

[Flames9_RN 358]

Customhouse rocks and its FREE! and better exchange rate

[Peachey 10]

I don't have personal experience on that one, but from what I am told you can still pay them off while in the U.S. I have student loans as well, and car loan payments through GMAC and I hope as long as I keep my canadian bank account I will be okay. I will definitely be looking into using customhouse that many other members have mentioned and used to transfer money back and forth between U.S and Canadian accounts.

Good luck with your car payments. if GMAC is anything like Nissan Canada Finance you will have to pay off your car before moving. Or pay it off with them at least. Or if GMAC does what Nissan does and can allow for special conditions.

I explained to them that I will still keep my CAD bank accounts and they were still like "NOPE! Can't". The reason behind it is that if you ever default on your payments they don't have jurisdiction to seize your car if it's in the USA.

Anyway, sorry for the tangent. I plan on keeping on playing my student loans through my CAD bank account.

[minnew 4]

I don't have personal experience on that one, but from what I am told you can still pay them off while in the U.S. I have student loans as well, and car loan payments through GMAC and I hope as long as I keep my canadian bank account I will be okay. I will definitely be looking into using customhouse that many other members have mentioned and used to transfer money back and forth between U.S and Canadian accounts.

Good luck with your car payments. if GMAC is anything like Nissan Canada Finance you will have to pay off your car before moving. Or pay it off with them at least. Or if GMAC does what Nissan does and can allow for special conditions.

I explained to them that I will still keep my CAD bank accounts and they were still like "NOPE! Can't". The reason behind it is that if you ever default on your payments they don't have jurisdiction to seize your car if it's in the USA.

Anyway, sorry for the tangent. I plan on keeping on playing my student loans through my CAD bank account.

I haven't contacted GMAC directly on permanently importing, but it looks like I need to, as it may be different. When I was in the U.S, my last year under OPT(1 year of work authorization) of F-1 visa I had to import my car temporarily and was able to get a compliance letter. I had to import my car because I was no longer technically a student as I was working but still under a student visa. The only information I found under the GMAC website was that you had to give up the vechile if under a lease. It's only a year and a half old! I still owe more than I would get by trading it in or selling! Grrr!