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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studentmess View Drop Down
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    Posted: 09/November/2014 at 1:50pm
About 6 years ago as I began the process of digging myself out of my "student mess", I was approved for a credit card with Capital One.  This was one of those cards where you give a smallish deposit in exchange for a modest credit limit.  In my case, it was $150 for a $750 limit.  Because, of my financial issues this is the oldest account on my credit report.  The other older accounts have aged off of my report due to their negative content and unused state.

Because of the annual fee, and because Capital One just approved me for the Aspire Cash Platinum card, I really would rather close this old account.  However, I don't want to lose the credit history on my credit report.

Obviously, closing it will eventually after six years remove it entirely from your credit history, however is its age still calculated in your credit report's average age so long as it remains a closed trade item visible on your report? 

Not sure how best to handle this, but it just seems silly to keep an account open, pay an annual fee for the rest of my life, just so I can cling to the credit history.


By the way,  this is a great way to rebuild your credit after having it destroyed by your student related problems.  Capital One has been very kind to me only leaving a 30 day late on my credit report despite my horrible behaviour while I was struggling. 
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