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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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 17/November/2007 at 5:36am
Yes, Bateman, I agree with you about S.7 that is our most likely situation where we qualify as a class action. Even the governments info site says that the words 'in particular' mean that they focus on those issues but it is not limited to those issues.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote christo77 Quote  Post ReplyReply Direct Link To This Post Posted: 21/November/2007 at 8:52am
I have an old loan from RBC which i could pay back,  then I began going to school again and have been a full time student since 2003.  I have 1 semester to go and I need the student loan for that semester but Allied Consultants has somehow gotten my new student loans frozen until I'm back in good standing with the old RBC loan. 
 
The thing is I tried to get back in good standing with RBC but they required that i pay the interest before i could go on interest free status. I was a student, I had no money to pay anyone anything.  RBC suggested that I write a letter asking them to capitalize the interest.  I did so and they then demanded the entire loan to be repaid.  I stopped dealing with them and they refered my case to Allied.  But now Allied is influencing my ability to finish my degree.  What do I do?  I'm a full time student and have no money to pay anyone anything and am almost done.  In 6 months I will be able to pay the entire old loan off with one paycheck.  This is rediculous. 
 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 21/November/2007 at 5:45pm

Was it Royal Bank who told you to cap the interest, or Resolve Corp (their service provider)? It is important to gather names of who you speak with, and their actual location. What did they actually tell you after your application for interest capitalization?

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 johnstr Quote  Post ReplyReply Direct Link To This Post Posted: 28/February/2008 at 11:10am
Hi,
I am seeking some answers about CSL, BcSL,  and the giant interest rates they are charging. I made a regrettable decision in 2004 to take out a student loan for a 1 year business management course at a local crook oops!I  mean community college.  I was young  and made a bad decision. I graduated the course with good grades considering the condensed courses considering its a 2 year program at the local government college/ university. basically I believe I was goated into taking out a huge and unrealistic student loan for the wage expected after graduation also at the time interest was a very unknown topic for me. I had an issue with the college and the BCSL and CSL, the college told me my repayment start date was later then it actually was so i was screwed before I even started I missed my payments without even knowing they were do. With no interest in making minimum wage i decided to go back to the job i knew would help pay the bills the best ..Roofing . Anyways i had my loan default so i was no longer able to seek any help through the student loans program. So i went back to living every day life trying to make ends meet with a baby to support i stopped thinking about my loan. i recently got in touch with both BCSL and CSL to arrange payments possible to find my loan gained $3000 in interest for BCSL and another $3000 for CSl. I think this is really a criminal thing here how the heck is anyone supposed to pay back that loan and bring down the principle when the interest is so high I should have went to be a doctor to be able to pay my monthly payments.  I have not payed them any money and was reading some posts about bankruptcy and getting to a point where they will stop charging interest. any replies with any information would be greatly appreciated and I would also like to say that I'm very pleased that this site is here to help people deal with the almost criminal practices of the governments and colleges and universities who are obviously scratching each others backs and screwing good people out of there future or giving them a future at the price of their future. thank you
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Post Options Post Options   Thanks (0) Thanks(0)   Quote krazybeaver Quote  Post ReplyReply Direct Link To This Post Posted: 28/February/2008 at 3:54pm
since nobody here was able to help me i've done a lot of research and talked to the experts. the information i aquired will not please anyone but atleast you know what will happen.... first off, there is NO statute of limitations on student loans... trust me i tried!! secondly bankruptcy will only work if you haven't been studying for 10 years and 1 month...(they are trying to change that to 7 years..) so ... if you don't pay it; it will follow you into the grave!! they put a lean on my taxes so i've stopped filing my taxes. there is a program where you can arrange to pay it off in one large sum... if you pay off like half the debt in 1 payment, they can agree to that! which is the best thing i found!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 28/February/2008 at 5:23pm
Hi Krazybeaver,
I wish we had been more helpful... just to note that there is no official program to reduce the amount if you pay a lump sum, but some lenders will accept a lump sum... I know that OSAP rarely does that and rarely do do the feds. If its with the banks there might be a greater possibility of that happening..

Make sure that if you do one of these settlements that you get it in writing before you send them the money.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote krazybeaver Quote  Post ReplyReply Direct Link To This Post Posted: 28/February/2008 at 5:28pm
it's called debt reduction repayment (DRR) and here's the link...
http://www.hrsdc.gc.ca/en/hip/cslp/debt_reduction.shtml
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 28/February/2008 at 6:22pm
Someone has given you incorrect info... the DDR program is only available if you have exhausted all interest relief, and your loans are not in default.

It does not involve making a lump sum payment.
If you qualify for DDR, the government will reduce your loans...but few people ever qualify...
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Madmorrigan Quote  Post ReplyReply Direct Link To This Post Posted: 29/February/2008 at 2:47am
Originally posted by administrator administrator wrote:

Someone has given you incorrect info... the DDR program is only available if you have exhausted all interest relief, and your loans are not in default.

 
Incorrect info from the people involved with student loan debt?? Scandalous.
 
Sarcasm, obvs.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote vanbcguy Quote  Post ReplyReply Direct Link To This Post Posted: 18/March/2008 at 7:38am
I have a Student Loan debt from 1996 and a small EI overpayment debt (~$2k)..  Canada Revenue has garnished my wages @30% without making any contact (in regards to the EI debt).  Is this legit?  Do they need a judgement, etc for other than Income Tax debt?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 19/March/2008 at 1:00am
CRA (Canada REvenue) is power. They can do that if they want to. EI overpayments are treated rather aggressively, just like tax debt.
 
what are the numbers?
 
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 vanbcguy Quote  Post ReplyReply Direct Link To This Post Posted: 19/March/2008 at 1:25am
Originally posted by Johnny Johnny wrote:

CRA (Canada REvenue) is power. They can do that if they want to. EI overpayments are treated rather aggressively, just like tax debt.
 
what are the numbers?
 
 
The EI overpayment was $2400... they've since garnished close to $1k (3 pay periods).  The CSL amount is ~$12k.
 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 19/March/2008 at 1:49am

What are your approximate yearly earnings, and what is your family situation?

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 vanbcguy Quote  Post ReplyReply Direct Link To This Post Posted: 19/March/2008 at 5:03am
Originally posted by Johnny Johnny wrote:

What are your approximate yearly earnings, and what is your family situation?



$35k.. single.  Spoke with the guy yesterday re the garnishment on the EI debt..  says he sent me a form to list my expenses/income..  to determine if 30% is really too much.  He mentioned that after the EI debt is dealt with he would deal with the CSL.. I suggested that it's been 12 years, and mentioned statute limits.. he said no such thing.. they can collect anytime.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 19/March/2008 at 5:30am
No such thing, uh? Well, that is certainly deceptive.
 
Do you need some help with this? '
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 vanbcguy Quote  Post ReplyReply Direct Link To This Post Posted: 20/March/2008 at 2:00am
Yeah.. that's what I thought.  He advised me to contact a lawyer re any statutes, etc..
 
What's a good way/time to contact you?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 20/March/2008 at 10:42am
You can contact me on Saturday or Monday. Call me @ 866-239-7889.
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 cayt Quote  Post ReplyReply Direct Link To This Post Posted: 28/March/2008 at 4:02pm
Johnny;
 
When in default of student loans,  can they take property,  homes,  vehicles etc?  I know that if I declare bankruptcy,  the first 20000 in my home is exempt and my vehicle if owned outright.  The reason I am asking is that I am contemplating bankruptcy,  I just can't see any other way.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 30/March/2008 at 9:24am
It is not possessions tht you should be concerned with. It is whether or not you will be percieved as someone who can contribute towards your student loan. If they do perceive you as someone who can pay, you will be forced to repay. It is that simple. The government(s) will oppose your discharge. This is something that people need to think about when entering or contemplating insolvency proceedings.
 
If you cannot pay them - demonstrate that to them. If you are not bankrupt then you can't go bankrupt (unless a trustee wants to be creative and make it appear that you are bankrupt).
 
Johnny  
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote johnjohn13 Quote  Post ReplyReply Direct Link To This Post Posted: 06/April/2008 at 12:29pm

CBCL   was handling my OSL part of my osap but they aren't handling it any more.  i was in alberta for the last six months.  got back -Ontario- not long ago.   no one has called or mailed me anything. so WHO HAS MY LOAN(OSL) ?    Can't understand why they haven't written me yet.

I do  have good news though i have a good job now so i look forward to paying this crap off- if i can find out who the hell has it.
 
 
to all those who are still fighting-  stay strong.  i hope to see you on the other side-that's the side were we finally pay off are loans and tell the agencies to kiss are...
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