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 LockedWhat constitutes acknowledgement of debt?

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csmith73 View Drop Down
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    Posted: 22/March/2014 at 1:30am
I have a student loan this is coming statue barred in mid April.
 
I will be sending some documents such as, student loan account history, bank statements that show monies were siezed through collection, and a cancelled check that shows my last voluntary payment of said loan to Equifax so that I can have my last activity date reflecting my last actual voluntary payment instead of involuntary payment.
 
What my question is, is if Equifax shares this information with CIBC would this be considered an acknowledgement of debt and reset my limitations?
Chris
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 22/March/2014 at 10:38am
To be safe, hold off on sending the documents.  Its only an extra three weeks.

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Mark OMeara
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Post Options Post Options   Thanks (0) Thanks(0)   Quote csmith73 Quote  Post ReplyReply Direct Link To This Post Posted: 23/March/2014 at 9:38am
Thank you Mark, I do intend to, but my concern and questions are
1) Can Equifax share this info with CIBC
2) Can CIBC use these documents as acknowledgement and rest my limitations date?
Chris
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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 23/March/2014 at 2:43pm
I don't really know the answers to those questions..... anyone?
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