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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    Posted: 13/February/2008 at 4:17am
I am seriously about to cry over my RBC loan. I just don't know what to do. I'm applying for interest relief (which I just did last year, and was approved), but the NSLSC is about to cancel my application because RBC will not respond to their notices. The NSCLC has sent out 5 (yes 5) notices to RBC for simple information about my loans there so that they can proceed with the IR application. RBC has not responded. I've called RBC three times. The first time, the lady was extremely rude and dismissive, telling me that my loan was not in IR status and that they could do nothing. The second time I got directed back to the NSCLC. The third time a newbie told me that it's "probably" that I didn't fill out a consolidation form, and that he's sending me one out. I KNOW that's not the reason because I send a consolidation form 4 years ago and the NSLCS just told me that it is unnecessary.

So my IR application gets canceled on February 16th, which means I owe 3 months back to the NSCLC ($1200). Wonderful. I don't do business wit RC, and I never will again.
 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 13/February/2008 at 7:54pm
I've sent you an email about what you can try....
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Mark OMeara
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 14/February/2008 at 12:23pm
This is really interesting to read.
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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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 15/February/2008 at 4:29am
I've contacted HRSDC and they are supposed to be looking into this...

Mark
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 15/February/2008 at 6:04am
whats really surprising about this is that Resolve Corp apparently has the contract to look after RBC's Student Loans and Resolve owns equifax, which manages the NSLSC.

So it seems that the different Resolve divisions dont talk to each other?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote db108108 Quote  Post ReplyReply Direct Link To This Post Posted: 16/February/2008 at 10:56am
It's been fixed now. After the 5th try, RBC finally responded to the NSLSC and my IR was approved. Which is good because yesterday I got a letter from the NSLSC telling me that my loan was in arrears by two months (because they put the loan on hold for that long). I have really good credit without one late payment in the past 7 years on anything so I really, really hope they did not report this "delinquency" to Equifax. If they did, there will be hell to pay.

Another matter is the $250 that RBC took from my back account over the last two months. I am going to call them on Monday - I either want the $250 back, or I want my interest relief through them extended two extra months.

Yes, we need an ombudsman.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote db108108 Quote  Post ReplyReply Direct Link To This Post Posted: 16/February/2008 at 10:56am
BTW, I've WORKED for Resolve. Terrible company. 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 17/February/2008 at 8:14am
I sent emails to HRSDC, RBC, and a contact at Edulinx. I suspect RBC got an earful.

Glad its worked out!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote holden Quote  Post ReplyReply Direct Link To This Post Posted: 08/July/2008 at 7:30pm
My daughter's issue just got posted on another web site, but I can tell you one thing 9after having had a broken 30 year relationship with RB when the father of my 3 kids died.
Get in touch with the Ombudsman. THen the banking Ombudsman. They willl play games, but keep the correspondence. 6 years ago, I wrote a letter to Paul Martin (then Fin. Minister) which my MP forwarded, about RB and Insurance. Funny, they screwed me on the insurance, but I got an answer from Paul Martin, a re-consideration, and they never did get the store front insurance they wanted!! Chin(s-in my case ) up.
Algonquin
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