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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linnief View Drop Down
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Joined: 16/March/2005
Location: Canada
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Post Options Post Options   Thanks (0) Thanks(0)   Quote linnief Quote  Post ReplyReply Direct Link To This Post Topic: I need help now
    Posted: 16/March/2005 at 12:35pm

For the past 8 years I have been making payments on a CSL to one credit company. Two weeks ago I received a phone call from a BC company called ARC. This company first started their conversation stating that the scotiabank lost my file and this showed up on their desk after 8 years. Then the woman wanted me to make a good faith payment to secure my file. She then proceeded to ask how I would pay back my CSL. I told her I am making payment on my CSL and I am not sure what she is talking about. She explained to me that she is collecting the unsecured portion of the student loan. I didn't even know there was a difference between secured and unsecured. Tonight, I was speaking to her again and she did not like the fact that I was questionning why her principal and the principal I am paying on my current CSL does not add up to the original principal I borrowed. She passed me along to her manager who asked how I would pay. His tone of voice was raised, and quite harsh. I told him I did not like the way he was speaking to me and I requested all further communication be via mail. (tips i learned on this site) Well, he got very angry and demanded that I pay the full amount by Monday 2PM or have my lawyer contact him. He said that he was going to call my employment to confirm my employment status and a whole bunch of other things that I can hardly remember. I am very upset and I don't know what to do. Does anybody know my options from here? Does anybody out there actually understand how one file can end up in two different credit company? My most confused aspect of this, is how can borrowing nearly 19 thousand in principal end up nearly 30 thousand in principal then interest on top of that? Any help and suggestion would be appreciated!

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momof2 View Drop Down
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Joined: 15/August/2004
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Post Options Post Options   Thanks (0) Thanks(0)   Quote momof2 Quote  Post ReplyReply Direct Link To This Post Posted: 17/March/2005 at 1:55am
umm....8 years...this would sound like its stats barred to me.  they are fishing, most likely.  johnny ?
professionals built the titanic but amateurs built the ark...
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s_n_warren View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote s_n_warren Quote  Post ReplyReply Direct Link To This Post Posted: 05/April/2005 at 10:01am
My Scotiabank CSL was sent to ARC (Accounts Recovery Corporation of British Columbia) about a year ago. I noticed that when I checked my principle via online banking it appeared that Scotiabank still held the loan. I would call Scotiabank but they gave me NO information on this at all, telling me that they did not hold my loan any longer and that I had to speak to the collection agency. Two principles in my case? I'm not really sure.

Eventually, I got ARC off my back an got Scotiabank to take back the loan but took me MONTHS to prove wrongful default.

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WantOut View Drop Down
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Joined: 26/November/2004
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Post Options Post Options   Thanks (0) Thanks(0)   Quote WantOut Quote  Post ReplyReply Direct Link To This Post Posted: 09/April/2005 at 3:59pm

Linnief:  tell them you will only respond to queries in writing.  Tell them you want some proof of what they are claiming you owe.  Be careful, don't acknowledge owing anything --- somebody just calls you up and you're supposed to hand over some cash?

Regarding the "pay in two days or have your lawyer call me" .... a very common tactic used by collectors.  Don't give that another thought.

If/when they do send you something in writing, your best option is to call John LeBlanc at Canadian Financial Wellness Group.  He will get it sorted out for you --- whether it's stats barred, how much you owe, how much you can afford to pay, etc.

Also, keep hunting around on this site!  Lots of good advice and commiseration going on here ....

In order to discover new lands, one must be willing to lose sight of the shore for a very long time.
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nago View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote nago Quote  Post ReplyReply Direct Link To This Post Posted: 24/May/2005 at 3:36pm
Dont worry about arc--i made a interest payment and arc called me to say my loan is in default and this and that --they are suing me for 11k--

i just explained that i made a payment and they should recheck

couple hours later they phoned to say there was a mistake--and error

Ye right, more like they are fishing--they are getting desperate

Your loan probably isnt stat barred

contact john cfw
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