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 LockedHubby's old loans - gone???

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mermaid54 View Drop Down
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    Posted: 27/December/2009 at 9:26am
I have a couple student loans which I have made all payments on with the exception of during Grad School when they were in forgiveness as I was a full time student.
 
I have been married 8 years. I look after the finances. The bank account is in my name with my spouse signing over cheques. Some of the services are in his name, phone etc but I have all the credit with him having a card as well (under me).
 
About 5 years ago after we did our income tax my spouse got a letter and calls because he owed for past stuednt loans. They also took his income tax cheque.
 
No biggy, we paid off the Ontario loan over a year as it was only 1000 but there was also a federal loan. The federal people never came after us. We called them. They said the loan was frozen because it had been in default for so long. We sent some post dated cheques for a year and paid off about 1000 of a 11,000 loan. No one called and eventually we stopped paying because it was frozen with no incurring interest and we had other expenses - plus they were not calling.
 
We need to buy a house. All credit is pretty much in my name as indicated. I also make $65,000 and he makes significantly less.. I have good credit so I never much thought about how this would impact us.
The loans are about 15 years old now. Can I assume the federal loan will show up when applying for a mortgage?
The payments we made were a couple years ago.
They were in default since about 2002.
 
Lisa
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Post Options Post Options   Thanks (0) Thanks(0)   Quote mermaid54 Quote  Post ReplyReply Direct Link To This Post Posted: 28/December/2009 at 3:53am
I have been finding this site really helpful.
I have read alot on here and elsewhere over the last 24 hours.
 
Just trying to decide if I should apply for the mortgage alone or include him... I can not afford the house I want alone but if I include him it may get ugly. He is in default for a 1994 CSL.
 
Any thoughts?
I am fairly sure his provincial loan will be the only thing that shows up on a credit report as that was finished payment last year.
He has no credit cards, no bank account, just income and the phone bill.
everything is in my name. I have too much credit card debt to get the mortgage amount I want but I do not have any bad credit that i am aware of.
 
Hmmm
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Madmorrigan Quote  Post ReplyReply Direct Link To This Post Posted: 28/December/2009 at 10:05am
Mermaid...just pull his credit repor to see what's there. You should be doing that before applying for a mortgage ahead of time, anyway--often there are surprises! 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Madmorrigan Quote  Post ReplyReply Direct Link To This Post Posted: 28/December/2009 at 10:05am
that's credit "report". ;)
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Post Options Post Options   Thanks (0) Thanks(0)   Quote mermaid54 Quote  Post ReplyReply Direct Link To This Post Posted: 28/December/2009 at 2:39pm

Thanks,

The big issue appears to be his lack of credit. As I noted everything is in my name. I don't think he really has credit.

I tried to do both Transunion and Equinox online but they could not find him so I am sending in the snail mail requests.

After some thought, I think his provincial loan will show as we paid that off last year. We were making payments on the federal without them requesting that we do so.

We called and they said the loan was very old and was no longer accuring interest. They did not pressure us at all. We sent a years post dated cheques and never heard another work. This was to the Receiver General.

Not sure if that will show or not.

Not sure it really matters. I think his lack of credit is almost as bad as his bad credit.

I have very good credit and have never missed a student loan payment but would like to have his income as part of the application...

Guess I buy a clunker house :)

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Post Options Post Options   Thanks (0) Thanks(0)   Quote mermaid54 Quote  Post ReplyReply Direct Link To This Post Posted: 28/December/2009 at 4:36pm

Ok so I did the Transunion one for me as you suggested just to see if I have any demons I did not think of. The Equifax did not let me do it - something about the hyphen in my name.

Transunion said I had a 783 credit score which I am pleased with but said I have a credit card I dont. It appears to be a duplicate of my CIBC VISA. - Says I have two.

Weirdly it reports that the last activity was in 2005 but it is open and I have been paying it.

Should I call them or CIBC VISA?

Lisa

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Madmorrigan Quote  Post ReplyReply Direct Link To This Post Posted: 29/December/2009 at 1:38am
More than 40% of consumers find an error on their credit reports, even if they have "perfect" credit, so it's always a good idea to pull your report and check to see what **ckery has gone on (I pull mine once yearly). At this point, you have two options--call CIBC directly, or have Transunion investigate on your behalf. If you have T/U investigate, they have about 30 days (or a 'reasonable' amount of time) to verify it or remove it. If you call CIBC, it might take longer. However, if you go through T/U and they say everything looks status quo, you'll end up having to go through CIBC anyway.  Oh, btw....with credit cards, sometimes the Credit Bureaus will list multiple cards when, in effect, it's just one card with a new expiry date (i.e. first card expired in 03/2007 so a replacement card is sent with an expiry of 03/2011--it's just one card, but will sometimes be listed as a separate card, hence the reason why the 'first' card has no activity--it was replaced with the second card!).

Good luck, and keep at it!
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