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 LockedOveraward holding me back, how do I get rid of it?

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rraynes View Drop Down
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    Posted: 31/July/2017 at 5:04pm
Hey all, I'm a little confused and I'm hoping someone here might be able to help me out a bit.

Back in 2013 I got a Canada-New Brunswick integrated student loan and went to college for a course I thought I would enjoy. I did, though I was 17 and living by myself quite a ways from home and after a few months of not managing to keep things together, I'd dropped out and moved back home. I have about $5300 left on that loan, I've been paying minimum payments on it since then and mainly just not having a good time with moving from dumpy job to dumpy job.

This year, I decided to actually do something with my life and go back to university once I've figured out what I want to do with my life. I'm all enrolled, student loan ready to go, but I have this overaward here for $5002 and it's taking a massive chunk out of the funds I pretty much require in order to go back. Basically from what I'm understanding I've been assessed with a $15k need, but I'm only getting $10k after this overaward garbage. I have no idea what this really is or how I can get rid of it, but it mentions something about the Satisfactory Scholastic Standard and that I'm on SSS probation. Does that overaward go away? Is there something I can do about it? Obviously in my situation I'm in absolutely no way able to pay that money back, that would be ridiculous. I already owe them $5300, is that overaward an EXTRA $5k?

If there's any way to get rid of this, it would be exceptionally helpful. I won't be able to afford to go back if I have to pay that $5k back before I can get my full assessed need out of a student loan again. First disbursement is only $4k, and my tuition is $6.6k so there's kind of an issue here. So basically, what exactly is this overaward thing, how do I get rid of it, and can I even do it?
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Royal-NCO Quote  Post ReplyReply Direct Link To This Post Posted: 01/August/2017 at 5:31am
Unfortunately, because you withdrew early from your previous studies, you were not entitled to a portion of the money that you were awarded.  They therefore want that money back.  Technically, you weren't supposed to spend it because you were expected to IMMEDIATELY get a job after leaving your previous studies prematurely.  Realistic?  Not particularly, but that's how the rules work.

What they're doing now is saying, ok, you don't have to give us the money back right now, but we're reducing your entitlement for the new term by the amount you previously were over-paid.

Is there a way out?  Other than paying it?  Not likely.  Maybe Johnny has some ideas or alternatives.
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Right, and that's what I figured. I only ever cashed the first disbursement however, which is where the $5300 existing loan comes from. I guess I'm more interested in where the even $5k comes from because again I never cashed the second disbursement because I left before the term ended. It just seems like this $5k was from nothing, I don't know. I tried calling NSLSC this afternoon but their systems were down, boo.

If that is the case, would I essentially owe 10,300 and not the $5300 that shows on my existing student loan account?

Thanks for the reply.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 02/August/2017 at 6:11pm
What did you do with the second disbursement when you received 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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I dropped out well before the time came for the second disbursement, I literally never received it. The only disbursements in my disbursement history on THE NSLSC website are on September 24 2012 doe $3988, and September 25 2012 for $3039. Totals $7027, and I have $5350 remaining.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Royal-NCO Quote  Post ReplyReply Direct Link To This Post Posted: 03/August/2017 at 8:11am
Originally posted by rraynes rraynes wrote:

Right, and that's what I figured. I only ever cashed the first disbursement however, which is where the $5300 existing loan comes from. I guess I'm more interested in where the even $5k comes from because again I never cashed the second disbursement because I left before the term ended. It just seems like this $5k was from nothing, I don't know. I tried calling NSLSC this afternoon but their systems were down, boo.

If that is the case, would I essentially owe 10,300 and not the $5300 that shows on my existing student loan account?

Thanks for the reply.

Sorry, I am confused.  Did you leave before the end of the first term or the second term?

Case 1:  Term A gets a disbursement.  Term B gets a disbursement. 

You completed term A, withdrew AFTER completion of term A, and your never received Term B disbursement ( or never cashed it ). In this case, they're making a mistake if they're claiming an over-award

Case 2:  Term A gets a disbursement.  Term B gets a disbursement.

You exited before completion of term A:  you may owe money.  



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