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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Forum LockedCan a collection agency take me to court

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    Posted: 20/June/2009 at 5:06am

I have two student loans from 1998. One is in good standing with the CIBC and one is in collection.  The Federal loan went to collections about 5 years ago while I was unemployed.

I pay on it every month.  I've never missed a payment in the 5 years.  However, each year the collections people call me demanding payment in full.

We generally spend days going back and forth with them threatening to take legal action if not paid in full and then they agree to payments again for another while.

This time they are demanding at least a $3000 lump sum and refuse to take payments. This amount they say is the interest owing. The loan is about 13000.

Can they take legal action if I'm paying each month?

 

I thought if I was paying it monthly then a court really had no interest in it.  They could garnish my wages but the end result would be the same. Either way they would get the money in monthly payments.

 

At the time of being unemployed I was able to keep all of my bills paid and in good standing with the exception of the one student loan.  The collection agency told me I have my priorities screwed up and I should be applying all of my money to the one in collections.  This made my head spin.... Why would I let all of my other bills go to collections to get a bad bill paid faster?

 

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