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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Forum LockedTricura. Literally at my wits end

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dr.no View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote dr.no Quote  Post ReplyReply Direct Link To This Post Topic: Tricura. Literally at my wits end
    Posted: 12/May/2017 at 7:24am
I'll try to make this brief but I feel like I need to give the full story in order to get your advice. I did my undergrad from 1990-1994 in Ontario. I took out student loans every year of my degree (OSAP and NSL = about $40K in total). When I graduated I moved out to BC and foolishly forgot about dealing with repaying my student loans until they tracked me down to tell me my loans were in default. I immediately negotiated a repayment schedule and dutifully paid every month, never missing a payment. Flash forward to 2001 and I decide to go back to school and get my masters degree. I took out more student loans (BC and NSL = $22K). Again I dutifully paid the loans down without missing a payment. In 2004 I had to declare bankruptcy because of some personal hardships and the student loans weren't included so I had to continue to pay them down. About 4 years ago I spoke with a student loans rep and he tells me I could stop paying the loans because it was past the 10 yr limit. Of course I didn't believe him but he managed to convince me that "they wouldn't come after me". Sure enough last year they came after me. No big deal, after blowing a couple gaskets I started paying the loans back. I've gotten that roughly $62K down to $8K after regular payments, CRA keeping my tax refunds, etc. Last year I decided to go back to school again after losing my job. I was accepted into a PhD program. I decided to check to see if I could get student loans - just as a Plan B. I was told that because of the bankruptcy and other stuff I couldn't. I was advised to rehabilitate my loan. So i did that, paid outstanding interest, and was told the loan was rehabilitated. That's when Tricura started harassing me. They told me my loan was outstanding and I owed x amount. After jumping through their hoops - they made me ask my university to provide proof of my full-time status 3 times - and paying the outstanding interest, I thought I was in the clear. But no! Today I got a call saying all bets were off. The manager had surmised that because of the bankruptcy all bets were off and I had to repay the loan. I lost it and told the guy to eff off. I'm at the end of my rope. Aside from that initial default, I've played by their rules and in the end I'm getting screwed. I've fantasized about getting a lawyer and suing for the stress and impact to my health this is causing, writing to the Minister in charge of student loans (Minister of Finance?). I feel like giving them the middle finger just based on principle. Maybe when I calm down I'll have a better perspective but I could sure use some advice at this point. Is there a way to ask for loan forgiveness? Has some statute of limitations expired? Has anyone had any luck pursuing other avenues?
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