It is important to note what form of security you are giving, and what will happen if payments are not made on time. For example, a wage assignment or garnish allows the finance company to take all or part of one's salary or wages without taking the matter to court. All parties who co-sign or endorse a loan on another's behalf render themselves responsible should that person fail to meet the payments. Before proceeding to make loan applications or helping someone else acquire a loan, you should consult the International Student Advisor. Budgeting Establishing an estimate of expected income and expenses for a given period in the future, often referred to as a budget, can be very helpful in the first few months of your stay.
Students often realize too late that Canada is a relatively expensive country in which to live.
Simply recording your predicted living expenses such as rent, food, clothing, and entertainment will inhibit you from spending more money than you actually have. We encourage you to fill out the following cost-estimate sheet. If you need assistance in setting up a budget, please come to the ISO for help. If you are interested in obtaining either of these types of insurance, consult the Yellow Pages of the telephone directory under Insurance Agents and Brokers. It is best to shop around to get the best rates, since these vary from company to company.