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 LockedCanada student loan stat barred??

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    Posted: 03/February/2010 at 6:16am
Does a Canada Student loan go stat barred after 7 full yrs like other debts?? I have been out of school since Oct 1998 and my last payment was made Feb20/2003. I have a collection agency telling me they want a payment no later than Feb15, is it possible they're doing that to re-start the clock, so to speak. Also I still bank at the Bank where the loan was incurred, can they debt my account and apply it to the loan to also re-start the clock?? I believe my student loan should go stat barred Feb20 this year or do Canada student loans stay for 10yrs? 
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 03/February/2010 at 6:20am

We're here to help, but s this site policy is that you should pay back loans if you can, please provide info as to why you cant pay your loan. 

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Mark OMeara
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Post Options Post Options   Thanks (0) Thanks(0)   Quote panda_todd Quote  Post ReplyReply Direct Link To This Post Posted: 03/February/2010 at 6:26am

I barely make enough to cover rent, food and utilities. They want to advise the bank to garnish my wages but then either rent, food or utilities would not be paid. Since I have to have a home and eat, I guess it would be power that I went without. I live in northern Ab and the cost of living is higher here than normal. I made payments when I was able to but in the last few years it has not been possible.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 04/February/2010 at 9:11am
If your debt is a government loan then the bank has nothing to do with it. Who is the debt owed to?
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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