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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AngyPhD View Drop Down
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    Posted: 01/February/2009 at 1:32pm
Well, I just wrote an email to the Ombudsperson of RBC.

I've been a Phd student for 5 years without a break. I sent in my confirmation of enrollment for 2007/8 late, and thus interest started. I really hate that btw. I am so busy, it is hard to keep track of everything. I wish they'd retroactively cancel late interest payment stuff. It really burns my hide. Anyway. In May, I sent a letter to them to cap that interest onto the principle and thought it was all dealt with. Turns out, they now claim they never got the letter. I have been trying to deal wtih this since the end of July, and they have so unhelpful. Meanwhile the so-called interest keeps adding up.

I find their institutional policies to be a form of class warfare. Given all the horror stories I've read on this site and others, I just wish I could move my loans over to someone else. I want to pay them back and do everything by the books. I couldn't be doing my Phd without the help I got a few years ago. However, I refuse to just give someone thousands of dollars just because they have a lean on me. Ugh.

A-Phd
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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: 02/February/2009 at 4:27am

Escalate it to the RBC student loan finance department. The big guy's name there is Tom Lumsden.

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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heather View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote heather Quote  Post ReplyReply Direct Link To This Post Posted: 21/August/2009 at 10:52am
hi,

I am contemplating contacting the ombudsperson at RBC as well and am wondering if you had a positive outcome?  Also wondering if you had contacted the BC ombudsperson overseeing all financial institutions in the province?  Thanks!
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