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 LockedMAD AS HELL AT OUTSOURCING

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jo33bc View Drop Down
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    Posted: 28/December/2005 at 2:20pm
I am no stranger to these message boards! I'm back in SL Hell, and it is even worse this time around now that RBC has outsourced the loans to a half ass third contractor. I have had MORE SCREW ups and am fuming, this is going to kill me having to deal with them. The lost my consolidation forms, and I have been phoning them 3 times a week since the middle of November. My loan was suppose to be consolidated by December 1. Today, December 21, I get the consolidation forms in the mail, along with a letter telling me my loans are over due!!!!!! I got on the horn and because I have recorded every single freaking call that I've made to them in the last six weeks, was able to run down a list of names of people I had dealt with and the run arounds they were giving me. To make it worse, this company had only logged 1/4 of the calls I've made to them!!!!! To make it worse, somebody that I spoke to on the 24th of November, at 1:15 PM my time (yes I even record the time) told me that my December payments would "pushed forward" to the 29th of December in order for them to get their sh*t together to send me my consolidation forms. Anyhow, I was on the phone for 45 mintues today with them and still don't have this whole freaking mess sorted out. I made a payment at the RBC branch in here in Calgary but apparently it takes 5 -10 days for them to get a payment eventhough they are "suppose" to be in "theory" part of the RBC!! Who the HELL can I contact with regards to this, who is in charge here, and why was the RBC allowed to contract this out!!!! All the BS with this company is going against all the Federal laws with Canada Student loans, like, it takes 3 full working days to process any kind of request, so basically it is now our responsibility to "plan ahead" to give their inept company time to process the paper work. I've had it!!!!!!! I've just had. Can someone tell me who to contact to lodge a complaint against these idiots!!!!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote nights99 Quote  Post ReplyReply Direct Link To This Post Posted: 24/July/2006 at 11:37pm

I am a former RBC Student Loan employee - and I agree with you, outsourcing these loans was a mistake for customer service, but makes good business sense and you would think RBC would have learned from CIBC's quick jump to Edulinx. 

Now on the other side of the coin, RBC would have had no choice but to outsource.  You see, back in 2000 when the governments announced they were going to be taking back the Student Loan programs, Student Loan employee's starting jumping ship at a fast rate - jobs were becoming redundent and fast.  When I started in 1997 there were at least 100 people on my shift - when I left in 2002 there was only 20 left. Not a pretty picture. It doesn't make good business sense for the bank to fill positions on a portfolio that was loosing money and not making money.  Outsourcing in my opinion is the wrong direction because you are basically contracting somebody who has no idea what the product is about or how it operates - but in the bank's eyes - why continue to support a product you don't make a cent on?  I feel for you - it's to bad because Students today do not know where to turn for answers on their Student Loans.  What should have happened back in 2000 is the governments should have purchased back all the Student Loans instead of creating this confusing two-tier system they have got going now.  May the force be with you.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote TheSpaceLord Quote  Post ReplyReply Direct Link To This Post Posted: 10/September/2006 at 9:23am

So much for applying to CIBC for work.....

In all seriousness I've had similar problems with the RBC's customer service department myself but more in line with them giving me phone numbers to some of their main western branches whenever I'd try to see about my repayment file (I set up my student loan payment plan with RBC when I was attending university out west 6 years ago). Needless to say, all of those numbers turned out to be inoperable and when I phoned the initial office to inform them afterwards that the numbers they had given me didn't work. The caller at the other end of the line would feign a hint of surprise whenever he/she said "gee, they must've closed down operations" last week.

Seriously, even without having set up my loan with them I'd say it's obvious that the RBC are pretty shortchanged in parts of their customer service department. No offence to any past or present RBC employers here but I'm glad I no longer do business with them. It's not worth my sanity.

"I'm in hiding/Just leave me be/This is my first step to my date with poverty"
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 10/September/2006 at 11:27am
The problem with the outsourcing group that RBC contracted is that it doesn't know the product. That corporation does not realize that the personal financial and social security of a large number of Canadian citizens lies in their hands. How can it propery provide service to a population that it knows nothing about?
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 SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 10/September/2006 at 11:28am
The RBC did have a choice. RBC is as much in the dark as to how to service and help people as its third-party service center. The big problem with RBC is that it does not know how to manage its assets. These assets are students that are facing financial hurdles every day.
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 SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 10/September/2006 at 11:29am
The moment the banks became involved (1995), that is when the Canada Student Loans Program went to hell in a hand basket. Banks center around profit, and the Canada Student loans program was not built as a business of the sort, until now of course.
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 SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 10/September/2006 at 11:30am
The default rate in Canada - over 25%. This particular tragedy does not JUST happen. This is how many student loan borrowers are currently trying to cope with the fact that their financial and social lives are destroyed.  This is absolutely evil.

Johnny

www.cfwgroup.ca
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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