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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Post Options Post Options   Thanks (0) Thanks(0)   Quote Jane50 Quote  Post ReplyReply Direct Link To This Post Posted: 03/July/2016 at 6:09am
If I was you, Royal, and if I really wanted to pay the federal part, and my conscience is bugging me about it, I would take all the money I would want to give them, put it in a high interest savings account, earmark it for the loan, and just leave it, and don't touch it.  Add to it like you are paying off the debt, but realize, too, that these buggers can't be faced.  And they are quiet right now, not bugging you, and suppose someday they will, you will have it to give it to them.  If they don't ever come after you, you will have a substantial something to leave for your family.  
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 03/July/2016 at 3:46pm
Paying interest only once it is negotiated will not put you in default. Make sure though you have paper trail of it somehow in case someone at the service center screws it up on you. 
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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Post Options Post Options   Thanks (0) Thanks(0)   Quote Jane50 Quote  Post ReplyReply Direct Link To This Post Posted: 04/July/2016 at 3:23am
Thanks John.  I was reading that it is only ok to do that for 1 year maximum, so I will have to eventually make full payments at some time.  So a year is good though, its not bad, I'm grateful.  Surely, I will have it figured out by then.  
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 06/July/2016 at 11:19am
You can negotiate it longer if you have a case for it. 
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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Post Options Post Options   Thanks (0) Thanks(0)   Quote Jane50 Quote  Post ReplyReply Direct Link To This Post Posted: 06/July/2016 at 2:39pm
Yeah, I'm having to go to credit counselling service in the city close to here.  They are free service.  They have close ties to the mental health dept.  and to the financial world, and it was recommended by my therapist.  I have lifelong crippling anxiety.  So I'm glad to know, too, that maybe I can negotiate a longer term.  Again, I thank you Johnny.  
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 08/July/2016 at 4:46am
They aren't free by any stretch, but it is the commission they earn from the creditors that pays them. They are paid a percentage that you pay, as with any collection agency or debt repayment organization. It is good to know this stuff. Basically, they are the private companies that administer a cloned likeness of the old provincial debt repayment scheme called "Orderly Payment of Debts". It was a bankruptcy program until it was no longer used, and then provinces were realizing that a lot of people were stuck in this repayment program for 20 years or more, never to get out. There is no such thing as a non-profit business. Wink

Good luck with this - and keep us posted on how things work out with your student loan matters! 
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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