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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paulaffleck View Drop Down
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Joined: 26/September/2007
Location: Canada
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Post Options Post Options   Thanks (0) Thanks(0)   Quote paulaffleck Quote  Post ReplyReply Direct Link To This Post Topic: Multiple loan entries
    Posted: 24/March/2008 at 4:29pm
Johnny might take a crack at this issue...
 
I've analyzed my Transunion and Equifax credit reports.  Interestingly, I have FOURTEEN Royal Bank Student Loan accounts.  The four last digits on each account entry range from between 5001 - 5018.  My RBC loan is now paid in full. I have an RBC letter to prove it. 
 
 
What is additionally irritating is that thirteen of the fourteen RBC account entries appear in the section of the Transunion credit report entitled "Other:  Accounts in which the exact category is unknown".   I also have noted that my transunion report says that there are two "delinquent" accounts.  However, all my accounts are in fact up-to-date.
 
I have written a three-page letter to Transunion detailing my concerns with respect to each and every account entry on the report.  My question is:  Is this a common scenario?  Should my dispute resolve the matter?
 
Of course, what should happen and what WILL happen might be very different...
 
Thanks,
 
Paul
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