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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Royal-NCO View Drop Down
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Joined: 17/March/2010
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    Posted: 18/April/2016 at 4:09am
This post may seem unrelated to student loans, but actually for many of us who have been through this, its VERY related.

After my issues with my student loans, my whole life fell apart.  The only credit card I could qualify for was a secured card with Capital One with a $300 limit.  As a result, when I found myself desperate for cash I would go running for a payday loan.  This became a vicious cycle for me, and I found myself in a very abusive relationship with one pay day loan provider, Instaloans which is connected with Cash Store.

I'm sure many students with destroyed credit reports from student loan issues have found themselves in the same position.  You may have been screwed by these payday loan places.  Cash Store lost their license, went bankrupt, and also lost a class action lawsuit against them.

Please, read here:  You may be entitled to a share of the settlement.

This four year old payday loan just appeared as a collection item on my credit report yesterday.  4 years ago they refused a payment arrangement when I attempted to escape a cycle of ever-repeating pay-day loans with three different payday providers.  They were the only company that didn't cooperate with me and the only company I didn't pay as a result.  I've ignored it because the interest is HUGE and it is now statute barred.  4 years later I am getting bitten for it.  I suffered through several bounced check fees.  Paid multiple additional illegal fees through their pre-paid credit card arrangement etc.  I suffered abuse and insults from them.  They absolutely refused to cooperate with me so that I could gradually pay this off and clear the debt once and for all.

Anyhow, yet another issue that stems from a destroyed credit rating thanks to the errors caused by Royal Bank with my student loan.











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