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 LockedA few Questions

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1996Debt View Drop Down
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Joined: 26/October/2010
Location: Ontario
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Post Options Post Options   Thanks (0) Thanks(0)   Quote 1996Debt Quote  Post ReplyReply Direct Link To This Post Topic: A few Questions
    Posted: 26/October/2010 at 7:51am
I have owed my student loan (I don't even know which part now.) apparently since 1996.  I paid my Student Loan in full after getting my education and thought I was paid off in 2000.  A few years later I got a call at my parents house and was told it was a collection agency and that I owed 6000.00 to student loans.  So I started paying sporatically.  In 2008 I got hired at CIBC and low and behold ARC ended up sueing me and sending the documents through interoffice mail! (CIBC is the original holder of my loan.)  Anyway, I went through with answering the papers and agreed to pay $50.00 bi-weekly - which really does nothing to pay the loan considering now it's well over 8000.00 because of interest.  Now I no longer work for CIBC and am not employed anywhere at the moment. 
 
My question is this - why don't collection agencies send monthly bills - especially when you are making payments?  How can I get monthly statements? 
 
My second question is - can I make larger payments sporatically without them expecting the big payments all the time? 
 
Thanks for the help. :)
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