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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thundercat View Drop Down
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Joined: 09/March/2008
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    Posted: 09/March/2008 at 8:59pm
I would love to hear peoples suggestions or feedback on my situation.  Frankly, I am not sure where to turn on this one.

I defaulted on my loan, after attempting to sign up for interest relief (7 tries)  Each time there would be a piece of information missing, even tho it was all in the same envelope. 

Anyway, this past fall I wanted to go back to school to finish my courses, I spoke to the canada student loan people, the collection agency who deals with the matter.  They both informed me of the rehab program.  Both told me if I made 6 consectutive monthly payments, they would send it back to the govt for interest relief or a possible another loan. 

I followed the payment system as I was told.  After my 6th payment I heard nothing from anyone, few months later I got calls again from the agency.  Apparently they never processed anything, never sent my file anywhere and then wanted me to restart the 6 payment process again.

I cannot find any information on what I can do..I then had to drop out of my course, I'm stuck for a semester of tuition out of my pocket because they lied.
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SolveStudentDebt View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 10/March/2008 at 12:28am

This is a serious service center trend, and it applies to call centers and other related outsourcing projects. You see, your application was probably misplaced (or lost) in the shuffle. They just can't tell you that they misplaced it because it would reverberate back to their client, so they tell you that you have not supplied sufficient information to pass the error off as your own doing. If they were to tell you that they misplaced or lost it, then they are ccountable for their error - and if you default as a result of it (which you did), they are accountable to you - and their client. The student loan administration has to start realizing tht mistakes like this affect a person's life. They are not a call center that is telemarketing communications products or credit card insurances. They are responsible to nurture and protect the Canadian economy and it's students if you look at it from the larger scope.

What you are describing is a clear image of the student finance system's failure. Unfortunately, you have to prove that they blundered. If you can do that, then they are accountable.
 
You need some help?
 
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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thundercat View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote thundercat Quote  Post ReplyReply Direct Link To This Post Posted: 10/March/2008 at 8:27am
That will be the hardest thing to do is prove they didn't come through.  I know working for a leading American cell phone company our motto is pretty much "sorry you were mis-informed".  All I pretty much have is who I spoke to, who approved the deal, when the deal was made kind of thing.  I also, spoke with my college student loan officer many times on the situation and her advice.  
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 11/March/2008 at 4:02am
Three important rules:
 
When you send something to a student loan service provider, make sure that you keep a fax transmission report. some fax machines actually scan the document that was faxed and the report is imprinted on it. THey cannot deny receiving it with this proof. also, if you mail in inportant documentation and income verifications,send this by registered mail if you can,. They have to sign for it - and they cannot say they did not recieve it if they signed for it. If you are talking with them, find a way to record conversations. They cannot say that they didn;t say this or that when you have them on the record saying this and that.
 
 
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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thundercat View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote thundercat Quote  Post ReplyReply Direct Link To This Post Posted: 11/March/2008 at 12:58pm
One thing I'm curious about actually is, at the start of my loan I owed roughly 10k, I've paid close to 4k over the last few years, and I still owe 10k.. can NCO actually add monthly interest?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 12/March/2008 at 3:57am
NCO simply calculates the interest for their client (your loan provider). This is something that your loan provider is realyl responsible for. NCO is just doing what they are told to do. That is all debt collectors do, which is what they are told to by their clients and management people.
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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