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 LockedEos-Nordon student loans,DO NOT PAY OFF, 2011

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Studentdeep View Drop Down
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    Posted: 04/May/2012 at 12:47pm
Eos-Canada, formally Nor-don collection agency. I had been paying HRDSC the rest of my debt, after paying them off , their rep says " o, you might still have a ontario portion".WTF. I call the ontario people, explained that they never sent me any communication on a default. They claim, they don't have to send anything, you have to call us. Anyway, they tell me i have no choice, if i wanna pay the loan off,  the remainng $6,000, i will have to call EOS collection agency. I have a good job and was willing to pay it off in a lump sum. My goal was to pay off my student debt.  at this point my credit history shows that my student loan has been " paid as agreed" and " transfered'. My credit was very good.
 
So i contacted them in good faithCry,  said i would pay them full amount, so long as they did not report it. I did just that fooolish thing.
 
that was june 2011,  in October 2011, i get a credit alert, my credit had fallen from 700 to 550, and  they reported a paid collection account. with June 2011 as the deliquency date, not january 2008 when it actually happened according to original creditor . I had read that paying off student loan was a nightmare, but it is actually the stupidEST thing to do these days. It ruins your life.  let that be a lesson to all students, don't bother with paying off that stuff. Now, that i look at all the credit advice out there, that is what financial experts are saying to debtors. SO, DONT PAY THE COLLECTIONS, THE OUTCOME IS MUCH WORSE IF YOU PAY THEM. You will suffer more negativelyCREDIT wise if you pay off.  The government doesn't care, why should we? as for me, i paid all my debt, it will take another 10 years to fix my credit and bring it back to normal.Cry For anyone who does not have recent experience, they are all the same, Collection agencies, ontario OSL. Don't call them. Don't bother. Payoff the HRDSC portion, feel good that you did what you could do. Let them garnish taxes until it pays it self off. Best advice, i can give.
LESSON LEARNED.
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