Looking to compare notes with others that have an AFE loan with BMO.
My GF finished school, the 6-month exemption ended, interest started accruing (prime + x%), and she wanted to pay the balance in full.(Saved and worked during school).
Problem: there's nothing on BMO's site or in online banking explaining how to make a payment on this loan. She was first told it could only be done in branch.
Went to the branch and they said in-branch payments are no longer an option and I had to email cpe@bmo.com instead.
They also said it's the government's job to tell students how to repay. Meanwhile, BMO is collecting interest runs every day the loan isn't paid off in full.
For anyone who's been through this:
How did you actually pay: branch, email to CPE, online banking transfer, pre-authorized debit, something else?
Did BMO send you a notice or repayment agreement at the 6-month mark, or did you have to chase it?
Were you charged interest during the back-and-forth, and did you get any of it reversed?
If you paid in full, did you get written confirmation of a zero balance, or did trailing interest show up later?
I'm trying to figure out whether this is a one-branch problem or a part of a bigger pattern. If you've had a similar experience, comment or DM me. I'm keeping a list of what people were told and when.
Also, why cant Quebec follow Ontario and just stop charging interest on student loans? Ugh.