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 LockedCSL from 1995

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angelad View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote angelad Quote  Post ReplyReply Direct Link To This Post Topic: CSL from 1995
    Posted: 10/March/2011 at 8:07am
I have a CSL that was originally with CIBC from 1995 that hasn't had a payment made on it in over 9 years.  About two years ago I started receiving a monthly statement from HRDC regarding the student loan.  I'd get one for four or five months, and then nothing for six months, and then I'd start getting them again.  Each time there is a phrase on the statement saying that Revenue Canada has been given the endorsement to take any tax refund that I may be entitled to, but each year I still receive my tax refund with nothing taken out of it.  Other than the moral obligation to repay this loan, am I now legally obliged to repay the loan?  If not, and it does appear on my credit report, how do I get it removed?  The last I attended a class in university would have been the spring of 1995.  I attended school, and received the loan in Ontario.  Thank you for any direction you can provide.
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