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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schwin54 View Drop Down
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    Posted: 24/March/2008 at 10:51am
So I've heard a bunch of horror stories about different banks (ex. CIBC). I'm a second year Ontario university student and was wondering which bank was the lesser of the evils. I need between 5-10,000 for an archaeological dig this summer and was wondering which bank you would suggest I go to.
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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: 24/March/2008 at 12:19pm

Pick a bank. Just stay away from high interest lending. You might be better served building a relationship with a credit union. They tend to carry consumers much further than banks do.

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: 24/March/2008 at 2:15pm
If you havent already, I would think the best thing to do is to research for grants...   Try going to Chapters and see if there is a book on canadian grants for education and research. Or google as much as you can...

As for banks, CIBC, Scotia and Royal were the main ones that had many stories about how these banks treated borrowers (lost documentation, incompetent call centers etc...

There is a "get free money and grants" seminar out there, but as far as the one I went to, it was a high pressure sales seminar trying to sell you a 'dvd and booklet package' for $900! I saw 15 gullible people go for it cause of the pressure and that it had a money back guarantee! (but when you checked the guarantee it was 'if you got a grant, they'd refund the purchase price' so they werent expecting you to get a grant!
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