This website is a testimony to the problems Canadian Student Loan borrowers experienced from approximately 1996 to 2008 and until their loans were paid off.

The privatization of the Student Loans system by the Chretien and Martin Liberal governments broke the system and defaulted thousands of borrowers who were trying to pay their loans. There were even stories of suicide due to the harassment of borrowers.

Read the report that I prepared back in 2007 here. Canada Student Loans-The Need for Change Fortunately the new Conservative government at the time revamped the program and fixed the system for new borrowers, but borrowers under the previous program were left with ruined credit and continued harassment from debt collectors.

I call on the Canadian Government to apologize to the borrowers affected by this fiasco and make amends.

Unfortunately the Liberal government is again clobbering the Education system with their upcoming changes to International Student Visas. Yes, there's a problem, but instead of a well thought out plan, they have pulled the emergency brake on the train causing a derailment. This has introduced unprecedented instability for both private and public education institutions who serve both international and local students.

Universities can't plan. I've heard of courses being cut because the government has no process in place for universities to send the newly required acceptance letters to the government.

This means that students who have been accepted can not attend courses that start in the summer 2024 semester. With cut sections, current Canadian students will have trouble getting courses, and may have to switch to part-time which changes their enrollment status and might trigger repayment of their loans or ineligibility for funding. I've seen this before. It wreaks havoc on the student loan borrowers.

Again, the Liberal government has messed up the education environment. Will the new system needed in a rush for the acceptance letters be the new Arrivecan scandal?

I call on the government to implement a slower phased in approach and delay the requirement of the acceptance letters until a process is in place to submit these letters.


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Joined: 25/July/2006
Location: Canada
Points: 2
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    Posted: 25/July/2006 at 6:30am

Hello

   First off I want to say that im SOO glad I came across this website, if anything these forums have done for me it is give me confidence in that regardless of my situation my sanity and health come first!  Yes debt is a burden but it cannot run your life, as any of us can leave this earth at any moment.

   k enough of that lol....heres my current situation.  I just finished my honours undergrad in sociology and am enrolling into a 1 year ECE program this fall, afterward im entering into a 1.5 year child and youth counselling program.  At this point (4 years of uni) i owe 34,000, which scares me...i have taken the maximum osap for all my 4 years of university, thankfully the repayable amount is capped at 7000 a year. i STILL have 2.5 years left of school which worries me cuz that means my total student loans will be around 60,000....

  If only i did a professional progam in university, my broad sociology degree doesnt seem to useful, hence my decision to add 2 advanced diplomas to it to enter the social service field as a child welfare worker.  My per month payment im assumign will be close to 600 dollars a month, and it just hit me the other day what a disease that amount will be on my life after school.  Ill pretty much be confined to living at home and not being able to get a car or anything.  safe to say im scared...but not that scared...

  Regardless however I still dont regret getting my education, because I STILL believe that student debt isnt bad debt, compared to other types of debt (credit card, car loan etc) its good.  OSAP gives me a lot of free money every year and thats much more than a standard bank loan can offer.  The truth is that OSAP does make university/college accesible those who cant afford it upfront but will one day be able to and pay them back.  If I didnt get OSAP i would be a full time employee in some factory with a high school education.

  Money comes and money goes, i guess ill have to see my money 'go' for a while till i see any of it coming in...but if thats the price i have to pay for the education and the knowledge and the EXPERIENCE ive had with university, then ill gladly oblige.

 

Thats my experience plus a little opinion thrown in there...im glad i registered!! thannx again everyone at canadastudentdebt.ca forums!!

 

 

Absolute Power Corrupts Absolutely - Lord Acton
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