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: 24/May/2009 at 6:34am
I have on occaision recieved a US cheque... they convert it and deposit it on the spot. Make sure the cheque clearly says US funds...
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Mark OMeara
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sharpetorium View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote sharpetorium Quote  Post ReplyReply Direct Link To This Post Posted: 20/May/2009 at 4:04pm
Wow, complicated!  This is over a year late and more than a dollar short, but I'm also in the US and pay from here.  I send them a two cheques every month -one for each loan- drawn from my account here.  On each, I write "US FUNDS" on each and I've never had a problem.

No charges from either them or from my US account, other than that the mail system sucks and they sometimes are a few days late, so extra interest.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote gonkgrad01 Quote  Post ReplyReply Direct Link To This Post Posted: 31/March/2008 at 8:25am
My student loan (Canada/Ontario) are in good standing and I have been paying off.  I created an issue for myself that keeps getting muddier though.  I moved to the USA in Jan 2006 - and have been here since.  In order to continue paying my student loan - I had to maintain my RBC Canada bank account (fees included), then open an RBC Centura (Essentially RBC usa) account (fees also included), so I can then transfer money from my local USA bank account to the RBC Centura one, then online - transfger the money into my Canadian account so that the automated monthly payment comes out and I remain in good standing.
 
If you have followed that - then I thank you for listening.  If your saying (WTF) with me now..thanks as well.  I essentially - to make my regular payment on my student loan, maintain 2 banks account - seperate from my main bank account and cover the fees (roughly $6 a month).  I'd really like to shutdwon my RBC canada account - as why do I need it now being here..and the Centura one..however, they keep telling me I have to make that automated payment from my RBC Canada account..and now, RBC Canada as of May 1, 2008 is telling me my pay-as-you-go account where it is .50 a transaction..essentially my 1 stud loan payment out of there...will be eliminated as an account option and ill  be forced to pay a $4 monthly account fee..there are no other options that are cheaper or pay as you go...does this make any sense..2 accounts, 2 bank fees per month to pay 1 loan payment?  obviosuly i am not in the positon to pay it off entirely or get a loan to do so and pay the loan off here...help!!
 
agghhh..someone please help!!!
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