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 LockedNegotiating Student Loan Debt?

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SolveStudentDebt View Drop Down
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    Posted: 16/June/2017 at 7:20am
Your loan is not "sold" to the service provider. It is a Crown debt and it will always be a Crown debt. The government of Canada doesn't sell it's accounts to debt buyers, or anyone.  

If you want to make an offer to settle the student loan then you have first have to give them (Social Development Canada, and it's Ministry) a really good reason to do it. If the loan was in default, and your circumstances warranted a settlement, then it would a lot easier. However, they may just say no because you are on RAP, and there is no reason to settle. If you are experiencing hardship with extenuating circumstances and can give them that "reason" to settle while the loan is active and in good standing, then you can certainly approach the government. 



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

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angelarose View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote angelarose Quote  Post ReplyReply Direct Link To This Post Posted: 16/June/2017 at 2:14am
I graduated 6 years ago, and have been on the RAP program and have made 0 payments to my student loan. I have someone who is willing to pay off my student loan in one lump sum payment, but wants to negotiate it down. I've called NSLC, to gather information and they said that Resolve Corp only processes the applications, but the goverment sourced and owns my debt. 

But from my research Resolve Corp/DH purchases loans, and I believe they own my loans? I've made some calls but haven't gotten anywhere.

Anyone know anything about negotiating a student loan? I figured to them I'm giving them nothing, the government is current paying on my behalf so I feel like I might have some leeway?

Thanks!
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