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.


  FAQ FAQ  Forum Search   Register Register  Login Login


Forum LockedRoyal Bank Frustration Stories

 New Topic Create New Topic Show Topics Page  123>
  Replies Reverse Sort Order Views Last Post
Announcements
Hot Announcement
RBC Outsources student loans!
By administrator, 15/August/2005 at 2:28pm
9 7805 By Hunter2
15/August/2005 at 5:25pmView Last Post
Forum Topics
Hot Topic
dr
By nago, 22/May/2005 at 5:35pm
0 802 By nago
22/May/2005 at 5:35pmView Last Post
Hot Topic
Royal Bank Loan
By sldrama, 04/June/2005 at 11:50am
0 2550 By sldrama
04/June/2005 at 11:50amView Last Post
Hot Topic
0 878 By kaspr79
14/July/2006 at 5:17amView Last Post
Hot Topic
RBC lost payments!
By RealBadCS, 20/July/2006 at 4:43pm
0 854 By RealBadCS
20/July/2006 at 4:43pmView Last Post
Hot Topic
Debt Reduction Question
By Chantal, 03/May/2007 at 8:49pm
0 723 By Chantal
03/May/2007 at 8:49pmView Last Post
Hot Topic
TD BANK beyond unreasonable
By freddyzappa, 04/June/2005 at 1:10am
0 2040 By freddyzappa
04/June/2005 at 1:10amView Last Post
Hot Topic
A Change in the administration....
By sharpetorium, 17/September/2005 at 6:49pm
0 1420 By sharpetorium
17/September/2005 at 6:49pmView Last Post
Hot Topic
Formal Protest
By Mayhem, 11/September/2007 at 1:40pm
0 779 By Mayhem
11/September/2007 at 1:40pmView Last Post
Hot Topic
Loans through RBC
By miscellina, 04/March/2006 at 12:14pm
0 1173 By miscellina
04/March/2006 at 12:14pmView Last Post
Hot Topic
0 3725 By RevChris
08/September/2008 at 4:22pmView Last Post
Hot Topic
Financial misrepresentation by RBC
By Smak123, 20/November/2008 at 9:24am
0 1965 By Smak123
20/November/2008 at 9:24amView Last Post
Hot Topic
two different banks
By summerthyme, 06/August/2010 at 6:22am
0 1411 By summerthyme
06/August/2010 at 6:22amView Last Post
Hot Topic
Settlement
By studentadult, 23/May/2011 at 12:31pm
1 1357 By SolveStudentDebt
01/June/2011 at 4:14amView Last Post
Hot Topic
RBC raised my monthly payments
By noel, 21/July/2010 at 2:38pm
1 1790 By SolveStudentDebt
22/July/2010 at 12:53amView Last Post
Hot Topic
RBC SL account numbers
By janna, 28/January/2009 at 4:40am
1 2290 By janna
28/January/2009 at 8:27amView Last Post
Hot Topic
Message Icon very rude collection agents
By hoop77, 13/June/2007 at 6:50am
1 1158 By SolveStudentDebt
13/June/2007 at 10:33amView Last Post
Hot Topic
Transaction Record Woes
By penniless, 18/April/2007 at 1:04pm
1 850 By takopup
19/April/2007 at 1:21amView Last Post
Hot Topic
student loan and credit report
By ozie, 11/July/2007 at 8:39am
1 1558 By Dunker
11/July/2007 at 12:27pmView Last Post
Hot Topic
1 4998 By jjbean
12/April/2006 at 7:52amView Last Post
 New Topic Create New Topic Page  123>

Forum Jump
Forum Permissions View Drop Down

Forum Software by Web Wiz Forums® version 12.07
Copyright ©2001-2024 Web Wiz Ltd.