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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Aurelius View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Aurelius Quote  Post ReplyReply Direct Link To This Post Topic: Depression
    Posted: 03/September/2005 at 4:48pm
It's the long-term, debilitating depression that's the worst. I've had ups and downs most of my life but the worst have been since my higher education. I wasn't able to complete my degree because I could no longer afford to continue even though I was working two part-time jobs. Once the collection calls began is when things became very, very bad. I lost a job because the collection company kept calling me at work. It wasn't much of a job but it at least paid my rent.

A large part of my depression was caused by the public humiliation. Everyone at work now knew that I was in financial trouble. All my friends and family were aware of it too. I had to return home to stay with my parents because I couldn't afford to pay rent and pay on my debts. On the day of my mother's funeral, the debt collector called and harassed me for money twice. The next day he called and spoke to my father, my 81 year old father, and revealed all my financial woes to him. As if he did not have enough worries at the time.

I'm now 44 years old. I'm a single female. The future doesn't look too good for me. My debt is more than it's ever been. I also wish I had never pursued a higher education. It's not worth it. I would certainly never, ever recommend anyone taking out a student loan.

I'm worried about my future. At this rate I'll never have my own home. I don't know what kind of retirement I will have, if I will have any at all.

The good news is that I'm not depressed anymore. I gave that up about a year ago when I no longer let fear grip me. I'm able to sleep at night again, and the suicidal thoughts that plagued my mind every day are gone. I had to change or I was going to die.

Take care everyone. This is a good site. I'm glad you all are here.
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SolveStudentDebt View Drop Down
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Joined: 05/November/2003
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 04/September/2005 at 2:00am

Courage is mastery of fear, resistence to fear - but not absence of fear.

Your words are empowering:

"The good news is that I'm not depressed anymore. I gave that up about a year ago when I no longer let fear grip me. I'm able to sleep at night again, and the suicidal thoughts that plagued my mind every day are gone. I had to change or I was going to die."

You have just revealed to everyone that stress and fear are "optional", and you do not have to allow debt crisis to run your life. These psychotoxic effects of debt crisis can be harnessed - and controlled.  You are living proof of this, and although your future outlook may still seem bleak to you, your GREAT effort, faith, and positive approach to dealing with it all will bring you the success you seek in your future endeavors - financially, socially, and spiritually. 

Take courage. Fiancial problems (especially student debt issues) can be worked out no matter how bad they may seem.

Johnny

www.cfwgroup.ca

www.cfwgroup.ca/forum

 

 

 

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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kwelmm View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote kwelmm Quote  Post ReplyReply Direct Link To This Post Posted: 06/September/2005 at 4:01am
  Amen and Amen!!! Johnny !! 

Good for you, Aurelius!!  You are a story of hope for so many!!
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