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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almoe View Drop Down
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    Posted: 27/April/2010 at 9:12am
hi all i need help. i live in Quebec, i have some debts now and its so hard to know from where to start or where to go. i have a student loan of 20000$ plus some credit cards of 7k. i can't bankrupt since its been only 5 years from last year being a student. am in a new job but also as a contractor so it's always not a sure thing. anyone with an advice of what other ways i can deal with those debts. i need to get ride of the student loan, even though i need to go back to school now and finish a certificate. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 14/February/2010 at 9:21am
If you need to reach me you will have to email me from the site. Just go to www.cfwgroup.ca and click on the contact us tab.
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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bodaciousbrain View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote bodaciousbrain Quote  Post ReplyReply Direct Link To This Post Posted: 14/February/2010 at 4:24am
Hi there. I desperately need some help sorting/settling my student loan and a rather large creditline debt. I've left messages at CFW group, but no one has called me back. Can anyone recommend someone in Vancouver who has been helpful in resolving/settling a debt matter?
Thank you!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 10/February/2010 at 2:26am
No, you do not have to be a bankrupt. There is no set form. It is an appeal based on a number of key points and demonstrations. If yuou want help with it, give me a call. It is totally inexpensive.
 
Johnny
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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Post Options Post Options   Thanks (0) Thanks(0)   Quote ineedtheanser Quote  Post ReplyReply Direct Link To This Post Posted: 09/February/2010 at 1:38pm
Johnny:
In paragraph three, you mention making a hardship application to the government.  Do you have to be bankrupt to make such an application?  How do you get information on this program.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote kwester Quote  Post ReplyReply Direct Link To This Post Posted: 11/September/2009 at 6:02am
I think that the loans were guaranteed by the federal government but loaned by the financial institutions.  This is a great question.  Several student associations have been challenging the laws around student debt.  You may be able to find them through an internet search.  They should be able to give you an answer.  I think that this has been the problem with my student loans as well.   The Bank of Nova Scotia sent my loans back to the government, received their guaranteed re-imbursement, then forgot about them.  The gov then failed to follow the appropriate processes re: bankruptcy etc. until soemone thought that they would win Harper points by screwing me and left me in an extremely difficult situation.  I hope that you are right and that the 7 year limit applies.  Let us know please.
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I have a question regarding OSAP ... I had a collections call regarding outstanding student loan (kinda confused about that but if it's my debt then I'll deal with it somehow), and so I contacted HRDC & I have no outstanding loans with them.  I contacted my old bank (which negotiated my student loans) and there was indeed a defaulted loan that went to collections in July of 2001.   At this point I contacted OSAP, who informed me that yes indeed there was a defaulted OSAP loan that went to collections.  Are these loans one and the same or are they two separate loans?  That might be a stupid question but when I was paying off my student loans I thought they were all paid off (as per the confirmation I was given by HRDC).

Is this so-called OSAP loan really a provincial debt or is it a bank financed portion of the loan negotiated through OSAP?  Is there any way I can find this information out?  My old bank said on the phone that the only information still on file re: me is the date the loan was sent to collections & that's it.

If this is a bank risk does the statute of limitations apply to it?  I know they don't if it's OSAP but when I went to college (pre-2001) our loans were arranged through the bank.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote heather Quote  Post ReplyReply Direct Link To This Post Posted: 21/August/2009 at 12:08pm
I am hoping someone can confirm that the statute of limitations applies in BC for the bank portion of a loan taken out in the 1990s; last phone call from the bank was in 2001.  Now the bank is demanding payment plus interest for the last nine years.

I am unable to find anything definitive on the web.  I would like to take the bank to small claims court and sue for a judgment to get this over with -- is that possible?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote kwester Quote  Post ReplyReply Direct Link To This Post Posted: 21/June/2009 at 6:15am
After they took my $10,780 tax return (which I borrowed money to contribute to an RRSP to get), I went to court and got an order including my student loans in my bankruptcy.  Now, I want my return back and I am willing to go to court myself to do it.  I just need a little advice about which court and act to apply under.  Those buggers lied when I repeatedly contacted them by phone about inclusion of my student loans in my bankruptcy, filed no response with my trustee and gave me my GST and return for several years until I was expecting this massive return.  All this happened the same week that I lost my job.  I will get my money back!!!   How can they possibly support taking my money after repeatedly telling me over the phone that my loans were taken care of by my bankruptcy??  Can you help me figure out which court to appy to?  I AM GOING TO RUN THEM AROUND THE BLOCK FOR AS LONG AS IT TAKES!!    They will have to spend thousands on discoveries and disclosures and interlocutory applications, and then, if they still have my money, I will appeal and appeal and appeal.  For starters though, I'm going to try discussing this matter with a manager and see where we go.  Has anyone gone the legal route before?   Have there been any successful outcomes when CRA staff failed to advise that loans were still owing when contacted by phone and CRA filed no reply with a bankruptcy trustee?AngryAngryAngry
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 08/April/2009 at 5:23am
You are forgetting about the loans that came into repayment before the coming into force of the new legislation. so, up to a certain point there may be a limitation, depending on when the debt became due and payable upon subrogation.
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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Post Options Post Options   Thanks (0) Thanks(0)   Quote wendlyn Quote  Post ReplyReply Direct Link To This Post Posted: 08/April/2009 at 2:55am
Maybe for your Federal portion, but not for your Provincial portion there is not SOL.
good source
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 07/April/2009 at 9:16am
That is not entirely true. In some cases debt is disolved by a limitation issue. Geography and timelines determine this in certain cases.
 
You wrote:
 
"When you don't pay on it for 8 years doesnt excuse your from paying it back. They have been taking your income tax so that 8 years doesnt apply as you were not fighting to get your taxes back so that means you are aware of your debt..and just not willing to make voluntary payments on it."
 
If you are implying that this is an acknowledgment, that is incorrect.
 
Johnny
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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Post Options Post Options   Thanks (0) Thanks(0)   Quote wendlyn Quote  Post ReplyReply Direct Link To This Post Posted: 07/April/2009 at 8:23am
Even if it is not on your CBR the government can still take your income tax ....after 7 years it is taken off of your CBR...but you still owe the money, your debts don't just disappear. When you don't pay on it for 8 years doesnt excuse your from paying it back. They have been taking your income tax so that 8 years doesnt apply as you were not fighting to get your taxes back so that means you are aware of your debt..and just not willing to make voluntary payments on it. What sucks is they will continue to take your income tax and gst until your debt is paid.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote JT_Toronto Quote  Post ReplyReply Direct Link To This Post Posted: 22/March/2009 at 9:35am
Originally posted by fedup1000 fedup1000 wrote:

Hi Johnny,
 
I'm a bit confused. I recently got a tax assessment saying they were transfering my refund to Canada Student loans, however, they also are taking off for Ontario Student Loan. I haven't had a OSAP loan for more than 10 years. Nordon Collection told me there is no statue of limitations for crown debt. It's not on my equifax report. Is this what you mean as above, that it is off my credit history but that the government can still collect? For how long? I am currently on EI, so can I claim financial hardship?


Federal loans have a six year SOL but for Ontario loans there is no SOL.

That being said the ability of the government to withhold your tax refund is likely not impacted by any SOL.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote JT_Toronto Quote  Post ReplyReply Direct Link To This Post Posted: 22/March/2009 at 9:33am
Originally posted by yael yael wrote:

Going to college is a dream that many parents have for their children. This dream however is an expensive one.
Borrowing money for college is a big responsibility but college remains a smart investment for obtaining a satisfying career that earns a competitive salary.
How I wish things will be easy. Cry


It might be a dream but so is playing in the NHL or being a rock star but while we have no problem telling people the latter is unrealistic we encourage too many people to go to university -- many of which have no business going.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote fedup1000 Quote  Post ReplyReply Direct Link To This Post Posted: 07/March/2009 at 8:31am
Hi Johnny,
 
I'm a bit confused. I recently got a tax assessment saying they were transfering my refund to Canada Student loans, however, they also are taking off for Ontario Student Loan. I haven't had a OSAP loan for more than 10 years. Nordon Collection told me there is no statue of limitations for crown debt. It's not on my equifax report. Is this what you mean as above, that it is off my credit history but that the government can still collect? For how long? I am currently on EI, so can I claim financial hardship?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote yael Quote  Post ReplyReply Direct Link To This Post Posted: 19/February/2009 at 4:35pm
Going to college is a dream that many parents have for their children. This dream however is an expensive one.
Borrowing money for college is a big responsibility but college remains a smart investment for obtaining a satisfying career that earns a competitive salary.
How I wish things will be easy. Cry
sucker for loan modification
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Post Options Post Options   Thanks (0) Thanks(0)   Quote misscadets Quote  Post ReplyReply Direct Link To This Post Posted: 21/January/2009 at 9:20am
Maybe someone can clarify this for me as to why this happened - cause after almost a year of trying to contact CBV regarding my Ontario Student Loan (which was paid off last year), I found out this interesting bit....
 
(background)
I have been trying for almost a year to contact CBV Collections to get a 'letter of release' or what ever it is called - as I have paid the loan out in full and definately want proof. Well, I thought I had paid it in full. Again, I send an email. I received a phone call today from CBV (excellent service by this one particular rep - amazingly enough) saying I still showed a balance of just under $60.00 on the account!!  WHAT??  I was dumfounded!!  So, to get this letter I have to pay off this pathetic little amount - which is probably the interest accrued from some $0.50 owing....to get my stupid, but much needed letter. No choice, I paid it.
 
Now someone please explain why the he!! they didn't tell me this in the first place - last year??  (I understand they want any money they can get their hands on, but come on)  So instead of me showing that the loan was paid in full as of last year, it will now show this year....I find that very unfair and unreasonable....
Miss Cadets :)
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 21/January/2009 at 6:33am
If you want help, call us. bankruptcy would certainly be far more expensiveand less effective.
 
Johnny
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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Post Options Post Options   Thanks (0) Thanks(0)   Quote esperansa1973 Quote  Post ReplyReply Direct Link To This Post Posted: 21/January/2009 at 6:32am
Hey  I am really confused now.  I had Total Credit recovery call me and now they are going to send me a questionnaire.  I have not received it yet and am confused on if I should fill it out or not.  I wrote a post on my situation but no one has answered yet.  I am a single mom. I have a debt for about 9000 from a student loan that was a bad choice.  They sent me a letter telling me they will start taking all my income tax refunds.  I don't want to go bankrupt but am scared to deal with the total recovery agents?

Please help.
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