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Residential School Settlement

Mark Cappel
UpdatedJan 5, 2010

Do you loan to people who are expecting a residential school settlement?

Do you loan to people who are expecting residential school settlement?

According to the Indian and Northern Affairs Canada Web site, the Indian Residential Schools Settlement Agreement provides for a "Common Experience Payment," which is a lump sum payment paid to former students who lived at Canadian residential schools for aboriginal people. Payments are $10,000 for the first school year plus $3,000 for each school year after that. The settlement agreement also includes an assessment process that will allow those former students who suffered sexual or serious physical abuses, or other abuses that caused serious psychological effects, to apply for compensation.

The loans savings center is designed for people in the US, and connects borrowers to pre-screened lenders. Therefore, cannot help people expecting residential school settlements.

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