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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Banjomania View Drop Down
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Joined: 29/July/2015
Location: Woodstock
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Banjomania Quote  Post ReplyReply Direct Link To This Post Topic: Seeking advice
    Posted: 29/July/2015 at 4:14pm
Thanks in advance for any advice. 
Just found out there is still a balance on the Canada Student Loan that I thought was paid off several years ago. 
Some background: Years ago, because I had defaulted, a judgment was obtained that eventually resulted in garnishment. At the time, I decided to endure the financial hardship to get this particular monkey off my back. After a few years, I finally made my final payment.
Just a little over four years later, while investigating a stalled tax refund, I discover that Canada Student Loans is claiming an outstanding debt. After requesting and receiving a statement of account, it seems that, while obtaining a judgment for what I owed, the decision didn't include any of the ensuing interest during the period I was making payments. When the amount in the judgment was settled, interest had seemingly accrued. In the intervening years, additional interest has accrued.
I'm interested in disputing some of this interest, particularly the amount that accrued over the past four-plus years. Since I thought this debt was repaid, and I had met that initial obligation, I'm wondering if I have any recourse. 
Thanks again.


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