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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maggie67 View Drop Down
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    Posted: 21/July/2012 at 5:20am

I have old student loans dating back to 2001 which have never been acknowledged or paid.

 
I now have a new Collection Item on both my credit reports from a Collector with the MTCU being listed as the original debtor.
 
I understand that OSAP loans held by MCTU have no SOL, however can a collection agency post a new Collection Item on my credit report if the debt is past the allowable reporting period and has never been acknowledged?
 
Thx
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 21/July/2012 at 11:37am
The credit bureau has it's own limitation period for the reporting of derrogatory items. That being 6 years.
 
In Ontario, the provincial law says 7 years. However, I do believe the 6-year reporting period is Federal law.
 
To correct you, there are limitations in repsect to much older Ontario loans, from what I have been advised.
Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote maggie67 Quote  Post ReplyReply Direct Link To This Post Posted: 15/July/2014 at 5:41am
In regards to the thread above - the Collector has posted a collection to my account for an Ontario loan (not statute barred) in which the last payment is greater than six years old.  I asked the credit reporting agencies to remove the item as it is negative and greater than six years old.  The collector  claimed I made a payment in 2012.  I received a statement of account that shows no payment in 2012 and the last payment greater than six years old.  Here's the deal - I want to settle and part of that settlement is that they remove the collection account from my credit report.  They said they won't remove it as it is not greater than seven years old and debt that is not statute barred can still be reported.  I want to settle and improve my credit, but this means I reset the clock on my credit reports for another six years and seriously downgrade my credit score.  There seems to be no short term incentive to pay.  This is not smart on their part.  Is what their saying accurate (loans not statute barred can still be reported)?  Is there any way around this?  Should I involve the Ministry?  Thanks
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