The living conditions available to a student who has been issued a student loan from the Federal or Provincial governments; also the living conditions available once the collection agencies start looking for the loans to be paid back. Example: My OSAP squalorship was just enough to motivate me to work at the 7-11.
SQUALORSHIP
Meaning of SQUALORSHIP in English
Slang English vocab. Английский сленговый словарь. 2012