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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Alamode View Drop Down
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    Posted: 08/December/2014 at 11:37am
Hi! I'm wondering if anyone can give some advice on an issue with the Canada Student Loans program.

I had a loan in default and had to pay $2700 to get off of Revenue Canada's hands. In June I called the Canada Student Loans Program to be brought back into the Rehabilitation Program, due to financial difficulty. I was told it takes up to 8 weeks to process my request and that they would send paper work to fill out. If I was not approved, I could appeal or negotiate a smaller monthly payment.

I expected to hear from them in early October, but never heard from them. Mid-November I call and find out they do have a record of my request, but had a *clerical error * and never processed it - my loan was still in default and collecting interest. Despite their admission of wrong-doing, Canada Student Loans is refusing to be accountable and claims its my responsibility to pay the $700.00 interest charge (and counting) that accumulated while I awaited their paperwork. I asked to talk to a supervisor and was assured they would give me a call to discuss. Guess what, haven't heard from them! 

This interest is collecting aprox $4.00 a day. My loan is my debt, but the interest is astronomical and I cannot afford it - especially seeing as just a few months ago I paid $2700.00 and am now living in my overdraft. I'm not sure what to do at this point. Please help!
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 12/December/2014 at 3:22am

They are not accountable to anyone based on the past number of years. Davis and Henderson is like a secret government.

 

Solve Student Debt specializes in solutions for students and graduates in student loan default, and those at risk of defaulting.

solvestudentdebt.com
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