Student loan dilemma

Are rules always justified in every situation
or sometimes it is important to change them……………

After working full-time for last two years I have decided that I will go for further study. I have applied for student loan as I can’t work full-time while taking a full-time intense course. I was hopeful that student loan would support me a little so I can complete this course without financial stress. After applying for the student loan, my loan got declined because when you apply for a student loan if you have any vehicle that is worth more than 5k then that is considered as an asset.  In order get the loan, student need to sell that vehicle.

I am not sure how that is justified. For a regular family one vehicle is necessary. The question is the value, can you really rely on a car worth less than 5k for your regular life. I have checked the market for purchasing a car. I couldn’t find any reliable vehicle that is worth less than 5k. I am not sure what is the measurement for granting the student loan. My understanding about student loan is very simple. Loan is just like any other loan that means we have to pay that back and students should get that support when they need. When I was looking for a vehicle I looked up all options. To buy a car privately I have to pay the full cash amount, which I didn’t have. The only option I had was to go for financing then at least I don’t have to come up with a large cash amount. With minimum installments through financing I can have a vehicle. That’s why I ended up signed a contract for my vehicle which is basically a five years loan.

Now to get the student loan I need to sell the vehicle. That doesn’t make any sense as it was purchased through five years contract. If I want to break the contract I will lose more money and car.  Well I tried to explain this to the BC financial aid.  So far no help. I have requested for appeal 3^rd time. Right now my 3^rd appeal is under process. I have give up my hope for the loan; I will survive with bank loan.

I am just upset about the whole process. To be honest every time I receive a letter from the BC Student loan I have to write an essay to explain my situation over and over again. Now it seems like a formality nothing else. I wanted to drop this appeal process. Unfortunately my school’s financial aid office advised me that if I don’t continue my appeal request then student loan would assume that I have enough money to continue my study.  In that case I would not be even qualified to apply for any other bursary assistance. So here I am stuck with this whole process. I was stressed at the beginning now it seems to me just an obligation.

I am just wondering how this all process is justified, how this rule works. Don’t we deserve little better.