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 Locked2001 NB Provincial Loan

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scartears View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote scartears Quote  Post ReplyReply Direct Link To This Post Topic: 2001 NB Provincial Loan
    Posted: 24/June/2012 at 1:03pm
- In 2001 I took out a NB Provincial (6k) and Federal Loan (6k).
- I never paid either due to hardship.
- In May 2006 I declared bankruptcy, was discharged in early February 2007 so at that point, I acknowledged the loans.
- I have never ever been contacted regarding my provincial loan, ever. No calls, no letters, nothing. I wasn't even sure the loan existed to be quite frank and even suspected my grandfather has paid it off before he passed. The federal Gov has always harassed me, taken my tax and gst but never the provincial.
- On Friday, I received a letter in the mail dated June 15th, 2012 from the Province of NB as a friendly reminder that I owed $6000.00 to the provincial gov and my taxes would be garnished (I guess they will need t fight with the Federal Gov?)


Questions:

1. Hasn't my 6 year mark gone by in May 2012?
2. Why are they only contacting me now after 11 years? The weird part is, in the one page friendly reminder I received, they claim I will be charged interest, well since my loan is still at 6 grand, that means they haven't charged me any interest in the last 11 years?

Did they just find this loan in an old filing cabinet recently or what??


I'm really hesitant of acknowledging this loan...

As a separate question...

Do they make arrangements for couples with student loan debts? My fiancee was served back in May 2011 and we've been paying CRA $335.00 a month since then, well now I'm scared I'll be served and we really can't afford to give them more money...can these loans be consolidated?
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scartears View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote scartears Quote  Post ReplyReply Direct Link To This Post Posted: 24/June/2012 at 2:02pm
Actually, another question because now I am freaking out! Can they now report this loan to the credit bureau 11 years later? It has never showed up on my report (the federal loan did). As I mentioned, I was discharged from bankruptcy in Feb 2007 therefore as of Feb 2013, my bankruptcy will fall off my report.

Now that this random provincial loan showed up 11 years later, I'm freaking out that all of the hard work I have done in the last 7 years to re-establish my credit will be ruined?

Is this even possible?
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