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: 20/June/2019 at 12:04am
You wrote to us earlier today I believe at www.solvestudentdebt.com ;

Based on what you are saying here there is a LOT of intel you need to know, including risks and potential opportunities. 

If you want to book a half hour for analysis and advice concerning your situation you can respond to the email that was sent to you and Lisa can book you in. 

Best! 

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 paradoxbox Quote  Post ReplyReply Direct Link To This Post Posted: 19/June/2019 at 4:24pm
Hi,

I have a loan from 2005. I did not finish school and ended up leaving Canada for over a decade.

I made a few attempts to make payments while overseas but the people I had to deal with over the phone were incredibly unhelpful and I ended up just giving up on it.

I've returned to Canada for now and would like to complete a degree while I'm here. I'm assuming the old loans are going to cause problems getting new student loans. I'm also assuming the loans are statute barred and my credit rating now is doing decently after being blank for so long.

I made a phone call last year when I returned to Canada to enquire about the balances and discuss the options and ended up speaking to what seemed to be a government debt collector in Ottawa. He was possibly the rudest, most unprofessional person I've ever had the displeasure talking to and he straight out threatened me over the phone. I told him to pound sand and haven't bothered with it since. But the lack of a degree is hampering my career and I need to do something about this. I would like to take the least painful route possible.

I would be interested in getting into the loan rehabilitation program, but from memory of the calls I had with them last year, the interest on the balances exploded the outstanding amount to something like $12,000-$13,000. If I remember correctly, any new loan would first require full repayment of the outstanding interest plus payments towards the principal. I wish I had had more financial sense when I was an 18 year old.. Coming up with $3,000 in cash for a payment is going to be a bit tight right now, but I could possibly manage it -if- I could be certain that I would be able to get another student loan and enrol in university again. I cannot afford to pay the interest, reactivate an old debt, be denied a loan and be stuck paying massive payments while also being denied a chance to get a degree. I just cannot afford that and would prefer to leave it alone if that's what's going to happen.



Currently located in Ontario and would like to apply for an OSAP loan if I can move forward with this.

CreditKarma shows both the BCSL and CSL as being closed with a 0 balance.

Canada student loan shows Highest reported balance $5,804, closed Dec 1 2005.

BCSL shows Highest reported balance $3,870, closed Jan 2005.

Last payment for both was in 2006.

Any help greatly appreciated.
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