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.


  New Posts New Posts RSS Feed - Interest Relief and Interest-Free Status
  FAQ FAQ  Forum Search   Register Register  Login Login


Forum LockedInterest Relief and Interest-Free Status

 Post Reply Post Reply
Author
noodles View Drop Down
Newbie
Newbie


Joined: 18/October/2011
Points: 2
Post Options Post Options   Thanks (0) Thanks(0)   Quote noodles Quote  Post ReplyReply Direct Link To This Post Topic: Interest Relief and Interest-Free Status
    Posted: 18/October/2011 at 6:15pm
Greetings,
 
I convocated in 2004 with a BA and have an existing student loan. I have paid back half of what I owe since then but have also used some 30 months of Interest Relief/ RAP.
 
I am considering a return to school and, unfortunately, amassing more student loans. However, I discovered this in the loan application handbook:
 
"You must not exceed the lifetime maximum of 340 weeks to receive assistance. The lifetime maximum may be extended up to an additional 60 weeks (to a maximum of 400 weeks) for full-time students enrolled in doctoral studies. Students with permanent disabilities or those who received assistance prior to August 1, 1995, may receive assistance for up to 520 weeks...The lifetime maximum for assistance includes the weeks you received student loans and any weeks you did not receive student loans but were in interest-free status."
 
Do periods of Interest Relief/ RAP count toward these weeks of interest-free status? Or, does interest-free status only apply to the time you are attending school, whether or not you receive loans?  
 
Thanks for the help.
Back to Top
Sponsored Links


Back to Top
noodles View Drop Down
Newbie
Newbie


Joined: 18/October/2011
Points: 2
Post Options Post Options   Thanks (0) Thanks(0)   Quote noodles Quote  Post ReplyReply Direct Link To This Post Posted: 20/October/2011 at 1:03pm
Before my original post, I had contacted my provincial student loans office. Without a definite answer to this question, I posted it here. I have since contacted the NSLSC and was told that after using 30 months of Interest Relief no new loans are issued until existing loans are cleared.
Back to Top
MrBee View Drop Down
Newbie
Newbie


Joined: 20/November/2011
Location: Manitoba
Points: 4
Post Options Post Options   Thanks (0) Thanks(0)   Quote MrBee Quote  Post ReplyReply Direct Link To This Post Posted: 21/November/2011 at 3:20am
That's interesting. They should be more up-front about these details. 
Back to Top
 Post Reply Post Reply

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 12.07
Copyright ©2001-2024 Web Wiz Ltd.