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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    Posted: 12/April/2019 at 1:21am
OldCanadianGuy,

John is absolutely right... if you want someone to research your loan on your behalf, I suggest you contact John at solvestudentdebt.com

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Post Options Post Options   Thanks (0) Thanks(0)   Quote SolveStudentDebt Quote  Post ReplyReply Direct Link To This Post Posted: 11/April/2019 at 12:04pm
A limitation issue depends on a number of factors and not just the basic ones, such as age, last payment, prior or recent acknowledgment, etc. There are things that could disrupt a limitation issue and it's running due to a host of reasons. The law is one aspect - but there are things that fall into the categories that define acknowledgement or activities that borrowers are not aware of that cause disruptions, resetting, and even exempting from a limitation period that was once there. There is a number of circumstances. 

A credit report does not present any information that implies or even applies to a limitation issue. Credit reporting law and its limitation period applies ONLY to the time in which a debt can be reported. If a debt is "discovered" to be legally recoverable it can be implemented back onto a credit report, for instance. Federal, Provincial, even standard consumption debt if that is the case. 

People are fearful to poke around about this matter with student loan providers and rightly so. This is why it is important that it be done professionally by someone who can minimize the risk to you and ensure that safeguards are in pace. Solve Student Debt does for people who seek out and deserve the benefit. Admin, you can't assume a debt is statute barred for any reason because if it is not then there is a bigger problem to worry about. Getting into the system, loan profile, and data is what determines if there is, is not, will be or will NOT be a limitation issue. Times have changed. 

This is all about awareness right here. :) 



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

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Post Options Post Options   Thanks (0) Thanks(0)   Quote administrator Quote  Post ReplyReply Direct Link To This Post Posted: 10/April/2019 at 12:12pm
You can order your credit report from Equifax.ca    That will show if it is on your credit report. It should have dropped off by now after 6 years of inactivity.

Your loan is likely statute barred and un-collectable....  Under no circumstances should you contact Royal Bank as they will try to get you to acknowledge the debt, which would cause you to lose the "statute barred"  status.


Let sleeping dogs lie.


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Post Options Post Options   Thanks (0) Thanks(0)   Quote OldCanadianGuy Quote  Post ReplyReply Direct Link To This Post Posted: 03/April/2019 at 1:45pm
I have received an student loan from Royal Bank in British Columbia many years ago, almost 24 years ago.  I have moved probably 20 times in that time period, from countries to provinces.     I have had no contact what so ever with anyone regarding this student loan.  I am wanting to know i have not seen it show up on my credit report at all, i have not see or heard from anyone since that time.  I am curious what is the status of it, please let me know how can i verify its over with or i still have it, and what i need to do to clear it up
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