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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old hippy View Drop Down
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Joined: 20/August/2005
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    Posted: 18/October/2005 at 3:09am

Well, I called the #'s I was supposed to call re: my last IR application.  I asked questions about what happens next ...and thanks to this site, I have a clearer idea of that.  The schools should offer first year credit courses in student loan repayment for free.  Maybe they do by now....I've worked in enough offices to know going in, that everyone will have their own version of the rules.  I'm not panicking because I have time, athough that probably won't matter.  5 years later...I'm still a little confused.  I take out the papers every 6 mths...think I have it straight, and then it's all changed up the next time round.

I have loans prior to Aug/00 and that puppy is huge - accruing interest of $10 a day.  That much I know for certainty.  That loan seems to get tossed around a lot.  Even though one person told me 'the banks aren't involved', they seem very much involved to me.  Maybe they meant the 'after Aug/00' loan...or the Ontario loan?  But some of the Ontario loan is before Aug/00 too. 

The numbers are scary when taken seriously.  And the job title 'Debt Reduction Analyst' (this is someone I may have to talk to) makes me nervous.  Not to worry...I have 6 mth. of relief to go, but this is just the tip of the iceburg I'm sure and time flies...

 

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old hippy View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote old hippy Quote  Post ReplyReply Direct Link To This Post Posted: 18/October/2005 at 10:34am

 

My question is - I found the Ontario Debt Reduction Monthly Income Table online but there isn't one for the Canada loan portion.  How do they determine entitlement to DR on the Canada loan?  Or do they use the same table?  Or do I go straight into a conversation with the 'Debt Reduction Analyst' ? Such a busy site with so many urgent questions..if someone has the time please.  No rush....

My answer is probably buried in one of these posts somewhere.

 

 

 

 

 

 

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