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 LockedCurious about Bankruptcy and Student Loan.

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Wayne View Drop Down
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Joined: 31/March/2012
Location: Alberta
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Wayne Quote  Post ReplyReply Direct Link To This Post Topic: Curious about Bankruptcy and Student Loan.
    Posted: 31/March/2012 at 7:13pm
Ok so heres my situation.
 
I don't remember the year I stopped being a student full time I believe it was 2007. Because of certain things that werent in my control or fully in my knowledge I didn't succeed in college. In fact in my last year my college paid to send me to a Psychologist to test for learning disabilities. Fortunately none. Unfortunately I was diagnosed with Chronic Generalized Anxiety Disorder, Depressive Disorder, and ADHD Primarily of the Inattentive Type.
 
I had never been able to hold a full time job or do anything without quitting and school was one of those. So during a period where I had no income and alot of credit debt and student debt I filed for bankruptcy, which I believe was in 2008/2009 id have to relook. Anyway during everything with the trustees I was under the impression whether I was misled or misunderstood. That after 7 years from when I was last in school that my loans would be discharged as well under my bankruptcy even though it was only a year or two after I left school. But apparently this is not the case?
 
Over the last couple of years with certain supports I have managed to maintain a stable job working in a comission sales position. So my gauranteed take home pay is only 9.40 and hour and I work full time. Sometimes my pay is more because of the nature of comission.
 
However because of the fluctuating nature of my pay and do to sometimes unforseen circumstances I hadn't been able to maintain regular payments to Federal and Provincial student loans and they defaulted. Now occasionally I would work out payment plans with them and try to maintain it but I couldn't sometimes and rather then call them id just ignore it for the sake of my stress level and try to pay when I could. Now the collections agency Metro for the Alberta Student Loan has basically said they are going to sue me unless I pay them 168 dollars a month which is even more then I had agreed to pay the Federal Student Loan people of 150 dollars a month trying to make both these payments every month just to avoid being sued and having my wages garnished really stresses me out because im trying to save money to get back into college properly, get my own vehicle, even just be able to make a decent life for myself instead of all my money going to bills every month. I cant even put any aside to save for retirement right now although I am managing 5% of my paycheque into an employee stock program at work.
 
Id like to know if there is anything I can do to keep from being sued and somehow deal with this without giving every little bit of money I make to them every month. Especially with my disability which somehow the government doesnt consider severe or prolonged despite my doctor. I never know when im going to have an attack that stresses me out so bad I up and quit my job. I just dont know how to get out of this.
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Joined: 05/November/2003
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 02/April/2012 at 3:00am

Are your student loans pre-2000 (risk-shared) or after?

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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