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.


  New Posts New Posts RSS Feed - 35 year old student loan any chance of forgiveness
  FAQ FAQ  Forum Search   Register Register  Login Login


Forum Locked35 year old student loan any chance of forgiveness

 Post Reply Post Reply
Author
SolveStudentDebt View Drop Down
Moderator Group
Moderator Group
Avatar

Joined: 05/November/2003
Location: Canada
Points: 5996
Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Topic: 35 year old student loan any chance of forgiveness
    Posted: 02/August/2016 at 9:35am
You make 2 payments and it is rehabilitated. If the debt is statute barred then you will reset the clock. If you are experiencing hardship with those extenuating circumstances to show that you won;t be able to pay it then it is possible to have it closed on that basis. However, very difficult and not something you should do on your own, unless you know the system through and through. 

Now, if there is a limitation issue then they have no ability to collect on it under the federal budget implementation act, or federal limitation of actions and proceedings. 

If you want to seek a limitation issue, or appeal under hardship to have the loan removed and you have a case for it, we can help you. 

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

solvestudentdebt.com
Back to Top
Sponsored Links


Back to Top
administrator View Drop Down
Admin Group
Admin Group
Avatar

Joined: 25/January/2003
Points: 1798
Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 29/July/2016 at 10:01am
IF there have been no payments in more than six years (and not an OSAP loan) the loan might be statute barred.

There is no loan forgiveness program....  however there may be some provisions under the Repayment Assistance Program but that usually involves paying off all the outstanding interest and making a number of consecutive payments.

If you make the payments you would lose your statute barred status... so be careful.
Wait for more answers in this forum before doing anything...

Read more in this forum..
http://canadastudentdebt.ca/forum_topics.asp?FID=90&title=collection-of-old-stats-barred-loans
Administrator
Mark OMeara
Author of Let Go and Heal: Recovery from Emotional Pain
https://LaughSingWrite.com - http://bit.ly/heal2024
Back to Top
SomeOldGuy View Drop Down
Newbie
Newbie
Avatar

Joined: 28/July/2016
Location: Toronto
Points: 2
Post Options Post Options   Thanks (0) Thanks(0)   Quote SomeOldGuy Quote  Post ReplyReply Direct Link To This Post Posted: 28/July/2016 at 8:24am
I am 58, disabled on ODSP. I will never again have the income again to repay my loan.
It's sitting at a whopping 67,000 dollars.
There has never been a payment made on it. Any tax refunds or reviews of my taxes with a refund have been scooped up. Never get HST cheques, etc Etc.
Been so long that I do not remember original loan info other than part was bank, part was province or federal.
At present it seems to be in the hands of "Employment and Social Develpment Canada" out of British Columbia and payment office in Quebec.
Is there any chance of debt forgiveness? Also have heard if I make 2 payments and apply for forgiveness it can be wiped this way?

Any info would be greatly appreciated.
Back to Top
 Post Reply Post Reply

Forum Jump Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 12.07
Copyright ©2001-2024 Web Wiz Ltd.