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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georgejp View Drop Down
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Joined: 17/November/2005
Location: Canada
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Post Options Post Options   Thanks (0) Thanks(0)   Quote georgejp Quote  Post ReplyReply Direct Link To This Post Topic: catch22
    Posted: 18/April/2006 at 3:52pm
my problems with the financial lending institutions and their
collection arms,contract players or assignees are probably going to
become much more prevalent. when in my mid-fifties i was unemployed,
had little prospects and was facing a future of income assisstance
and/or low government pensions. i attended government sponsored 'job
find' clubs and was told to get educational upgrades and skills
training. the govenment, in this case BC, would pay little toward any
schooling and offered only indefinite and vague programs. in
retrospect they offered nothing !
i was living on pennies and unable to assist my children in any
fashion. i was encouraged by 'job club' counsellors to apply for
student loans and seek 'job creation' courses over
'self-fullfillment' courses. in the reception area or on the wall of
every 'job find' classroom that i saw was a large copy of the
Canadian Charter of Rights and Freedoms. Freedom from discrimination
in Canada.
i have had extensive experience in several fields, but entry level
positions at my age were not a reasonable solution. i chose to take
courses in a field that i enjoy and have considerable hands-on
experience. hospitality and food and beverage management.
needless to say that even after graduating near the top of my classes
and spending countless hours studying i was unable to obtain work in
this so-called growth industry. this despite numerous pleas from the
industry leaders that there is a terrible shortage of trained staff.
i reluctantly had to settle for minumum wage security guard positions
which did permit a degree of financial independence.
i graduated in 2000 and was employed fairly regularly after. each 6
month period the nice people at Scotiabank student loan center
contacted me and told me that my low income qualified me for
government paid interest relief. this went on for 5 years. every 6
months i asked the 'Nancy Morrison' clone what was to happen when i
retired ? no-one knew and many times i was told that 'someone' would
get back to me. no-one ever did.......
i was physically unable to continue working and retire in March 2005.
      GUESS WHAT !   now the not-so-nice people at scotiabank want
full payments and my financial status is of no interest to them
whatsoever ! i have managed to make most payments, but due to some
arrears i now have NCO financial on the phone as well !
The Canadian banking system needs a serious overhaul and some very
onerous FAIR LENDING PRACTICE legislation. the the traditional 'moral
'suation' that our politicians use to hide behind is no longer an
option.   GP

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old hippy View Drop Down
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Joined: 20/August/2005
Location: Canada
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Post Options Post Options   Thanks (0) Thanks(0)   Quote old hippy Quote  Post ReplyReply Direct Link To This Post Posted: 19/April/2006 at 2:05am

Hi George,

I'm so sorry this is happening to you - it's shameful, low down and dirty for the banks to come after someone in their retirement years.  No, the banks couldn't care less about any one of us.  But maybe they need to have a line drawn for them when it comes to bullying senior citizens.  All you were doing was trying to improve your life by going back to school.  Something is very wrong somewhere and I think it should be fixed...

 

 

 

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