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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holygeez View Drop Down
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Joined: 22/January/2007
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Post Options Post Options   Thanks (0) Thanks(0)   Quote holygeez Quote  Post ReplyReply Direct Link To This Post Topic: Bank Statements
    Posted: 06/April/2008 at 1:04am
Ouch...does anyone know how to get statements from RBC?  When I call I'm told that "they don't send statements"....I'm to take their word for it.  My total balances owing vary by thousands of dollars depending on the day and the rep I speak to.
I paid out $2400 in interest on my CSL last year (which means $250 approx. went to principal.)
I've been paying for 6 years and it will be another 94 years before I get this paid off.
*sigh*
 
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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: 06/April/2008 at 1:21pm
RBC says this, or their assigned collection agency?
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: 06/April/2008 at 8:04pm
Watch RBC they are sneaky.  I once had a credit card with them, when I missed a payment (ended up being unemployed) they took the money out of my account anyway without my approval.  When I confronted them about this, it's in their terms and conditions they can get away with it.  After I found that out, I closed both the card and bank account out.
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