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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iowestudentloans View Drop Down
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    Posted: 12/May/2017 at 7:51am
Hey there, 

I took a student loan to go to school in 2006. There was a provincial portion (Ontario) for about $3500 and a federal portion for about $5000. I have been paying the federal portion for a few years and I have about $500 left to pay. Yay! That was never reported on my credit file because I caught it before it went out to collections. Wish I could say the same about the Ontario portion. My file went to collections in 2009 I believe and CRA has been taking a cut from my tax returns and GST to pay for this. My file is currently with ARO Inc and the Ontario Student Loans office refuses to take any payments from me. They say that I need to deal with ARO. 

After calling ARO, they told me that I owe them a little over $4000 and that if I paid it in full in a lump sum, they would let OSAP know that I paid and this ding would be expunged from my Equifax report immediately. I find that hard to believe. I just was wondering if they are telling the truth or if they are pulling my leg. I can go ahead and make that lump sum payment but I am worried that if I do, my credit score will go down. I had serious debt issues back in the late 2000s and I worked really hard to get my credit back to where it is. The only blemish is ARO with this student loan and I don't want it to go back down when I am pretty much back up to 700 on Equifax including that report on my file. 

If anyone has any insight on this, it would be greatly appreciated. 

Thanks!
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SolveStudentDebt View Drop Down
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Post Options Post Options   Thanks (1) Thanks(1)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 13/May/2017 at 5:07am
If a collector with a private agency tells you that an Ontario loan remark will be removed, get it in writing, with prejudice. Collectors are in it for the money and themselves - and not your well-being. 
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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