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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elas-t--i-----c View Drop Down
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    Posted: 23/February/2007 at 7:44am
,,, I  had a Ontario school loan of only 3000. I was still attending school and was in a period of what is called "interest relief".   This means that no principal was to be paid and interest was NOT calculated (as long as I am registered as a student). This did not stop EDULINX from withdrawing $300 from my BANK account without my permission. I am SO mad. I did NOT sign any paperwork allowing automatic withdraw. I did NOT authorise this, and my own bank (TD) wouldnt tell me any information.  The WORST part of their action is when the money was transfered from MY account to EDULINX (I still have the cheque) there was not enough money in account to cover my RENT cheque. This made me look TERRIBLY bad( defamation of character).  But after calling EDULINX ant telling them I would call the R.C.M.P. (canadian version of police) they returned the money immediately. I have STILL not recovered from their illeagle action. My name has NOT been cleared at my bank and my landlord STILL worries I will not be able to pay in future. I wish to persue legal action against EDULINX...  So all drop a line  here to BAND TOGETHER.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 23/February/2007 at 10:57am
If you read the back of your student loan agreement, it allows them to go into your bank account.

NEVER use the bank account that you deposited your student loan into.
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elas-t--i-----c View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote elas-t--i-----c Quote  Post ReplyReply Direct Link To This Post Posted: 23/February/2007 at 3:53pm
I should add that I was not in default, but in interest relief.  I was lucky enought to hear horror storries about collection agencies before I applied for my loan. I purposefully did not give any phone number to OSAP or any institution which forced all contact from them to be through the mail. Immediately after their convenient withdrawl from my account, I closed it and opened another. I had such a bad experience, I do not feel this country SHOULD benefit from my skills, or my money. They directly represent the country which I was planning to work in but their behavior makes me want to take my recently acquired degree to a country that respects the next generation. The program I want is available everywhere.   
 
Here is a TIP,,,,,,,,,, your going to get the same treatment everywhere you go so remember...
 
1)Never give ANY phone number for ANY reason~unless they refuse service
2)If you are forced to remove yourself from a situation where you have issued post-dated cheques~there is a HUGE fee to cancel EACH cheque....Just close the account! re-open another(do not abuse this) Every time a cheque is cashed they will be returned to them with "THIS ACCOUNT IS CLOSED"
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