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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Forum LockedGood website

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    Posted: 24/August/2003 at 6:29am
Anyone frustrated with banks in general should have a look at this website. Turn up your volume a bit and sit back. Clever and clean. Wish there were simiple solutions like the website gives you for dealing with &*&*& studentloans.

http://www.xdude.com/flashed-mar2001.htm
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Pixxa Quote  Post ReplyReply Direct Link To This Post Posted: 26/August/2003 at 8:04am
what can I say but...

WOW

and of course, Thanks!
Somtimes I feel like I'm diagonally parked in a parallel universe. anonymous
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Guests Quote  Post ReplyReply Direct Link To This Post Posted: 13/February/2004 at 6:16pm

Because CIBC is a part owner in Edulinx, and they are the only sevice provider for Canada Student Loans, I think we should be urging the Government to legislate banks back into the Student Loan Program.

How can it be good for a profit driven business to manage government guaranteed student loans (all loans negotiated at Edulinx are guaranteed)?

Edulinx would not try very hard to work with a student in setting up alternative repayment options when they can just let the loan go into default for 90 days and return it to the government for full payout! Why waste their profits on paying staff to do collecting? They have already made a profit off your loan through the monthly interest the government paid them while you were attending school.

Edulinx is in a win-win situation, and we're getting screwed because nobody there gives a sh*t about Customer Service. At least the banks might offer Customer Service because there is a chance we might become successful after we graduate and they would like to retain our business.

 

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